P1: OTA/XYZ P2: ABC
c11 JWBT144/Gordon September 25, 2009 19:28 Printer Name: Courier Westford, Westford, MA
11
Design Your
Money Machine
E
very entrepreneur makes mistakes, and I am no exception. Some of my
false starts can be traced to my lack of focus on all aspects of the Money
Machine that I was creating. In retrospect, I would have done well to ask,
“What is my best approach to delivering unique value to customers and mak-
ing the most sustainable profits?” I’ve learned my lesson; those unsuccessful
attempts were costly and time-consuming. Now I put great emphasis on the
total system—from idea generation to opportunity screening, to business de-
sign to exuberant customers, and to money. And that sometimes includes the
decision, on careful consideration, not to pursue what at first appeared to be
a compelling opportunity. This chapter shares lessons I have learned about
Money Machines and business design from the vantage point of my involve-
ment in different companies.
Business design options are the different paths you might
choose in converting your opportunity into customer
satisfaction and sustained profitability.
Figure 11.1, Gordon’s Money Machine, is a visual representation of the
entrepreneurial process. The metaphor of the machine implies that there is
continuous circulation in the process. Ideas and opportunities churn; business
design elements are constantly refined; positive cash flow from exuberant cus-
tomers is fed back into the machine (not squandered on executive perks). The
machine thrives on entrepreneurial evolution, energy, and enthusiasm. It is
101
P1: OTA/XYZ P2: ABC
c11 JWBT144/Gordon September 25, 2009 19:28 Printer Name: Courier Westford, Westford, MA
TRUMP UNIVERSITY ENTREPRENEURSHIP 101
Figure 11.1 Gordon’s Money Machine in Its Context
Source: The Center for Competitive Success, www.CompetitiveSuccess.com, “Gordon’s Money
Machine in Its Context.” Copyright
C
2000 by Michael E. Gordon. Used with permission.
102

Get Trump University Entrepreneurship 101: How to Turn Your Idea into a Money Machine, Second Edition now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.