Multiplication
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In The Personal MBA a multiplication is defined to be Duplication for a whole process or System. Multiplication is what separates small business from large business. Successful companies for multiplication are Ikea, McDonalds and Walmart.
Key Points:
- Multiplication is duplication for an entire process or system.
- There’s an upper limit on what a single business can produce. By creating identical business systems based on a proven model, a business can deliver value to more customers.
- Multiplication is what separates small businesses from huge businesses.
Questions for Consideration:
- Can your business multiply as well as duplicate?
- How could you take advantage of multiplication to serve more customers?
