Years ago we were returning home from a vacation in the mountains and I decided to surprise Meg and the kids by taking them to a Braves game at Turner Field. One of the cool things about Turner Field was that they had preserved the spot from the old Fulton County Stadium where Henry Aaron’s 715th home run had cleared the outfield fence. That home run broke Babe Ruth’s long-standing record. They left the fence there, noted the spot where Tom House, a relief pitcher for the Braves, caught the ball in the bullpen. It was out in the parking lot.
That had been a big, big deal for me. I was 12 when it happened. I’ve seen the footage so many times that I cannot recall whether or not I saw it live, but they were broadcasting every Braves game at the time so I think so. It was a big deal.
Read MoreI’ve had occasion over the years to talk with a number of entrepreneurs, people who built a business of some sort which over time took off and in some cases changed as circumstances changed. As one of them noted, “Once you recognize the business principles, it almost doesn’t matter what your business does. You apply the same principles.”
Some of those principles are:
1. You recognize some need or a niche in the market that isn’t being met, or that at least there’s some room in it and you could do as well as the others providing that good or service.
2. You start off small, with a few clients or customers and you serve them well.
3. Others learn about you by reputation or advertising and you grow to where things get way more complex.
4. You have to take time to step back, analyze your challenges and move forward.
5. If you’re going to grow, you’ve got to expand into new markets or products and continue to build a team that can run with it, hopefully smarter, faster and better than you can.
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