Mother Teresa's numerical results were not her greatest contribution. Instead, she made the world-and especially India-conscious of compassion.
I'm a writer. I could not or would not ever run a business. I don't even have a secretary. And contrary to some of the stereotypes, entrepreneurs are not loners. I am.
There are companies that are good at improving what they're already doing. There are companies that are good at extending what they're doing. And finally there are companies that are good at innovation. Every large company has to be able to do all three - improve, extend, and innovate - simultaneously.
They wrongly believe that good intentions move mountains. Bulldozers move mountains. But there are exceptions.
The more successful the unit, the more difficult it is to make sure that the large company doesn't put the same expectations on it as it does for the rest of the company. When it's a new venture, whether it's outside or inside the business, it's a child. And you don't put a 40-pound pack on a 6-year-old's back when you take her hiking.
Education gives you neither experience nor wisdom.
The large organization has to learn to innovate, or it won't survive.
When the business grows, the person who founded it is incredibly busy. Rapid growth puts an enormous strain on a business. You outgrow your production facilities. You outgrow your management capabilities.
Entrepreneurs believe that profit is what matters most in a new enterprise. But profit is secondary. Cash flow matters most.
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