This book is written by Richard Koch , the author of "The 80/20 principle". The subtitle of this book is "How to make you rich". The author starts this book by introducing a short history from his own experience and then makes 2 promises : that the book is easy to read and assumes no special knowledge about business, and if the reader acts on what he says, the magical mystery tour of the star world will make the reader more confident, more useful and a lot wealthier. So, the author introduces a guide how everyone should try and manage to be richer.
The book is organised in three parts 1. the idea of a star 2. how to find a star 3. how to nurture a star. I found in this book some special definitions regarding success, and the way each company acheives success. So, for example, he explains the impact of the right "mix of people"- the right balance of he optimist( the one who has vision and puts the foot on the accelerator) and the pessimist( the one who has the feet on the ground). Also he replaces the wellknown reason of success"people, people,people" with "positioning, positioning, positioning".
What exacltly is a star business?- A star business has two attributes :1. is a leader in its market niche and 2. the market niche is growing fast, at least 10% a year.
Afterwords he explains how to recognise a -star venture- by using many examples from bussiness life such as Coca Cola, Dr Pepper, Google, Amazon, Skype, McDonalds, Encyclopedia Britannica and also the city of Dubai.
And, the main idea of the book is how one can be rich by means of star bussiness. And the answer provided is to create one, of not to invest in one , and if not to work in a bussiness like this one, and possibly to be one of the first emploee.
He generated this idea by the BCG matrix, and also gives many personal examples , how he invested in several businesses, and also how was fruitful for him to leave BCG to join Bain & Company. He got promoted twice in two years and became a star, even he did the same work as in his previous job. And, the only difference was the company and the rate of growing.
So, in this book everyone may find an advice how to invest, where to work, and how to act.
Koch stated that STARS are the source of wealth, are the place to invest, the place to work.Referring to the book the answer is not to work or invest in the great majority of ventures, the useful answer is not human resources like‘people, people, people’ but consistently successful answer is ‘positioning, positioning, positioning. Also i think that to be ranked in a star business the most important is positioning in a niche which differs much from main businesses or other niche ones.
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