And even though his example of people scouring for discounts is a bit over the edge, I became acutely aware of the times that I tried to save money by doing something on my own. It made me realize how often I was doing tasks on my own rather than delegating them because I thought I could do them better. When I first read the book, this was a wake-up call for me. There's a hilarious part in the book where the author makes fun of people who drive across town and stand in line for an hour to get a $5 discount on chicken. De Marco puts to rest silly advice, like start a blog and expect to get rich from Adsense ads.ĭeMarco reminds us that time is an entrepreneur's most valuable asset. The writing in this book can come across as brash and quite combative. Most importantly, I do not need to worry about someone undercutting me. However, if you invest in developing advanced and more complex products, you can charge more and have a larger market share.

I could launch new products that seem easy to make, but I would end up competing with hundreds of other companies. But the easier it is to enter, the easier it is for a competitor to enter and undercut you.ĭe Marco emphasizes the importance of entering an industry that may seem more challenging to enter, but it is harder for a competitor to unseat you once you are in. They assume because the cost of entry is low, that they can build their business quickly. It is relatively easy to start, and there are not many barriers to enter the market. Most people start businesses that have a low barrier to entry-for example, opening a coffee shop or an online blog. De Marco points out something interesting that I hadn't heard since taking a microeconomics class in university (20 years ago!). Distribution is different from sales and marketing, and De Marco is one of the few business authors that gets it.Īnother essential concept developed in this book is the command of entry. These stores were asking for high discounts and unfavorable payment terms, so eventually, I opted to build my distribution through a Shopify store and heavy online marketing. For example, I could not get my products placed in large stores. Everyone preaches sales and marketing, but what most companies are missing is distribution. I operate a construction goods company, so the above idea immediately clicked.

This idea stood out for me as I consider it a fundamental concept, and few business experts really ever talk about having a solid distribution network. De Marco’s Rules for a Successful Businessĭe Marco emphasizes the importance of having a solid distribution network if you want to succeed in business.

The millionaire fastlane audiobook