Thursday, June 7, 2007

10 Lessons From Don Corleone

If you've ever seen the Godfather, I'm sure you remember the phrase, "Make them an offer they can't refuse."
In the movie it often meant an offer backed by force. In real life the situation is often more complex. The modern day Godfathers seldom need violence. They know the wants, needs and desires of their target market.

There's a lot we can learn from the modern day Don Corleones.

  1. There's more money to be made tapping into a hot target market, than there is trying to create one.
  2. They've often replaced force by giving more at a better price than their competition.
  3. They understand the value of a consumable product that has to be continually reordered.
  4. They understand the power of branding. They let others spread their name for them.
  5. They understand the value of rewarding their top earners.
  6. They are always looking for ways to diversify
    • By expanding their marketplace.
    • By searching for other hot products.
  7. They make it easy to buy.
  8. They reward themselves with their profits.
  9. They're flexible. They don't stick with a product or service that isn't profitable.
  10. They know that enjoying their profits gives them an incentive to earn more.

So, if you're interested in building your business, take a lesson from Don Corleone. You don't have to be a gangster to make more money.

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