13 Lucky Business Lessons Learned from Fried & Hansson

ReWork by Jason Fried & David Heinemeier Hansson: book summary and the best nuggets about the main business lessons learned by the founders of 37 Signals/Basecamp.

In order to make space for the new, you need to get rid of the old. So, the first step is to take down those common misconceptions that are usually the reason people decide not to try.


RE-THINK / REWORK

In order to make space for the new, you need to get rid of the old.


Take a journey through some of the best nuggets (visual quotes from books) and the main summary of ReWork.

ReWork is a must-read for anyone who wants to start a business. This book is a package of invaluable knowledge about the best business lessons learned by Jason Fried & David Heinemeier Hansson. The business world has changed; the old, traditional notions related to work no longer apply. So this new approach offers all the insight and advice you need to successfully run a business.

Each chapter will bring new and helpful information on the best way to follow your dream of starting a business – and daring to expect more.

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I’ll reveal below some valuable business lessons learned from ReWork, together with some of the best nuggets (visual quotes from books) as a handful of aces. But I also warn you: this is merely the beginning. To find out more you should read it all!

Lesson #1 – As strange as it may sound, it turns out that learning from mistakes is overrated and that long term planning is not useful.

Lesson #2 – Instead of listening to those who think your idea could not be successful, try believing that the world is always ready for a change and in need of fresh new ideas just like yours.

“Don’t sit around and wait for someone else to make the change you want to see.”

Lesson #3 – The most important thing anyone can do for their own business is to start something. It really helps if it’s something you believe in and which truly matters. Some of the greatest businesses were developed by people who started something in order to scratch their own itch.

“Until you actually start making something, your brilliant idea is just that, an idea.”

ReWork business lessons

The 2 authors started working on something they cared about and needed. You will learn how to find time to work on your business. Why you should not take outside money. Why you should focus on creating a business instead of a startup – and why you should not build to flip.

Lesson #4 – One of the most useful advice is to focus on the most important part of your business, the epicenter. When you start something new, there are forces pulling you in different directions – the stuff you could do, the stuff you want to do and the stuff you have to do.

Lesson #5 – The stuff you have to do is where you should begin. That is the epicenter. To figure out your epicenter, think about which part of your equation cannot be removed. After finding it, focus all your energy on making it the best it can be, as everything else will depend on that foundation.

You will learn not to be afraid of making decisions, and why it’s always best to make small decisions that are temporarily efficient.

“When you get in that flow of making decision after decision, you build momentum and boost morale.”

Lesson #6 – You will also find out why sometimes the best decision is to quit. Why estimations are not accurate and how to efficiently make them; which is the best way to prioritise and why long to-do lists are not the best approach to getting things done.

Lesson #7 – When it comes to competition, you should not focus so much on what they are doing, but on how to make your product unique and how to succeed by doing less. You should not focus on competition as this is something you cannot control; and it’s a waste of the time you could otherwise use on improving your product or service.

“Decommoditize your product. Make it something no one else can offer.”

Lesson #8 – Trying to one-up competitors will transform you into a defensive company. And defensive companies cannot think ahead, they can only think behind. They do not lead, they follow. Instead, try doing less than your competitors in order to beat them. By solving the simple problem, you leave them with the difficult one.

Lesson #9 – The best way to promote your service or product is building an audience. Share information that is valuable (speak, write, blog, tweet, make videos) and you will slowly but surely build an audience. Then, when you need to get the word out, the right people will already be listening.

“Share information that’s valuable and you’ll slowly but surely build a loyal audience.”

Lesson #10 – Teaching is another great way to grow your audience and to get what none of the other traditional marketing tactics can get – your audience’s loyalty.

“Teaching is something individuals and small companies can do that bigger competitors can’t.”

business lessons learned. ReWork

The final chapters focus on some very important aspects of running a business – damage control, hiring and developing a culture.

In the damage control chapter you will receive good advice on how to own your bad news, how to efficiently deal with a crisis and how to responsibly admit you made a mistake.

Lesson #11 – When it comes to hiring, there are a few rules you should always stick to, starting with when – and how to hire, to what you should be looking for in the people you hire.

Lesson #12 – You will find out what managers of one are and why you definitely need them, why you should always hire the best writer and why you only need people that leave at five and not workaholics. Another thing you will learn is that you cannot just create a culture overnight, you have to give it time to develop.

Lesson #13 – Last but not least, you will understand that inspiration does not last forever and that if you want to do something, you have got do it now.


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