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Ready to learn the most important takeaways from ReWork in less than two minutes? Keep reading!
Why This Book Matters:
A refreshing alternative to traditional top-heavy business approaches, ReWork shows how a less-is-more outlook will enable you to launch a successful company in less time with less money.
- Build a business on something you care about and can be proud of
- Identify a need you have and then formulate the solution based on your firsthand experience with that need.
- Example: The author created Basecamp, a highly successful project management product, on a shoestring budget because he and his team were lacking a good solution.
- Launch your company as soon as you’ve got the core of the business worked out and wing the rest of the details
- Launching your business as soon as possible allows you to get rolling towards a profit while working on the remaining details as you go.
- Example: Start selling hot dogs as soon as the cart and dogs are ready. All the other details can be worked out as you proceed.
- Filter out what you “need to have” for your business from what you’d “like to have”
- You don’t actually need so much of what you think you might need such as a business plan, investors, or your own dedicated office space.
- Example: Basecamp began on a shoestring budget using shared office space.
- To stand out in the market, pick a fight with a competitor
- Become the anti-example to your competitor to give you instant positioning and get people talking.
- Example: Dunkin’ Donuts markets itself as the Anti-Starbucks: simple instead of complicated and down to earth instead of stuck-up.
- Do one thing amazingly well and make it unique
- Companies that focus on one product or service with perfection find more success than companies that are going in too many different directions.
- Example: Vinnie’s Sub Shop in Chicago is so devoted to freshness that they stop selling sandwiches in the afternoon when the bread is no longer as fresh as they want it.
- Bigger isn’t always better, but don’t forget you are aiming for profitability
- A smaller business footprint means more obscurity, and thus flexibility for experimentation and real interaction with your customer base.
- Example: Broadway shows usually are tested in other cities where they are off the media radar before going to New York.
- Don’t copy big business marketing; go small and direct
- Smaller means being more personal, direct, and honest with your customer base, which strengthens the relationship between your product and your customers.
- Example: Instead of striving to be featured in a big newspaper, find a small publication that addresses a particular niche.
- Create a culture of open communication and trust
- The most successful teams are trusted to make their own decisions, voice their opinions, work to produce and not to fulfill certain hours, and do not over plan.
- Example: Let employees manage themselves and focus on what matters, and encourage their thoughts about improving the company.