Personal MBA: Distribution Channel

How you choose to get your product or service into the hands of your customers is an important decision, and affects multiple aspects of your business. According to Kaufman, your distribution channel “describes how your form of value is actually delivered to the end user.”

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Personal MBA: Trust

Kaufman proposes a hypothetical deal between the reader and a contractor. He explains that you would never pay the full sum of money needed to build a lavish villa without some sort of guarantee that you would receive what you’re paying for. He goes on to state that, “Without a certain amount of trust between parties, a transaction will not take place.”

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Personal MBA: Reputation

I think reputation is one of the most significant factors of success for small businesses. Because small companies don’t have the marketing budget to continually inundate the public with positive messaging and millions of customer reviews or testimonials to draw from, they must rely on other methods for maintaining a good reputation.

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