For the math-phobic, this is a godsend. Kaufman explains the Income Statement , Balance Sheet , and Cash Flow Statement using lemonade stands and garage startups. The new edition adds a chapter on Unit Economics —a concept that killed more startups in the 2020s than anything else (i.e., knowing exactly how much profit you make per single item sold after customer acquisition costs).
The book is organized around five core processes of every business: The Personal MBA- 10th Anniversary Edition By J...
According to Kaufman, every successful business—from a lemonade stand to a Fortune 500 company—consists of five interdependent processes: The Personal MBA 10th Anniversary Edition - Amazon.ca For the math-phobic, this is a godsend
The 10th Anniversary Edition doubles down on this by introducing the concept of If you master these 50 concepts (e.g., the Pareto Principle, Sunk Cost Fallacy, Comparative Advantage, The Lindy Effect), you understand 95% of what a mid-level manager at a Fortune 500 company understands. The book is organized around five core processes
It won’t give you a network of alumni connections, but it will give you the vocabulary to have intelligent conversations with those alumni. It won’t give you a summer internship at Goldman Sachs, but it will teach you why Goldman Sachs makes money (arbitrage and spread) in the first ten pages.
However, for the freelance designer, the small business owner, the product manager, or the aspiring founder bootstrapping a startup—this book is a cheat code.