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Three Crucial Concepts in Business

Risk 

“The only strategy that is guaranteed to fail is not taking risks.” 

  • Mark Zuckerberg, founder, Facebook 

Risk can be seen as the true currency of business today. Work is only rewarded as much as it has the risk to go with it. Jack Pritchett, CBI Business Broker of Memphis has become well acquainted with this principle as he continues to establish himself in our newest location in Memphis. Jack highlighted the importance of three things he learned in his first year being a business broker.  Accepting risk and using his life situation to his advantage, networking, and discipline. 

Networking 

Jack noted that “finding a mentor that helps me with referrals has been crucial to building my network” when asked about the key lessons he has learned in the past months. He stressed the importance of engaging in local networking groups and face-to-face networking. “If you’re not meeting face-to-face, it’s a lot harder to make a good impression, so you should be really polished when you present yourself to others.” 

Discipline 

“Discipline equals freedom” 

  • Jocko Willink, Business Consultancy CEO, Navy Seal 

Staying ahead of common work duties in business allows someone to focus on the issues that pertain to his or her role instead of reacting to inevitable, daily distractions. In the case of Jack, he shared that keeping the momentum going with leads frees his time so he can effectively respond to prospects and handle interactions that require a nuanced approach.   

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