26 November, 2013

1-3-1 sales: Transaction

It means: "The exchange of VALUES between two parties"
-         Transactions are one of the Critically Important Assumptions to call something "A business". If there is no transaction, it is a project or a start-up but not a business
-         Startup projects usually build something with no profit at the start hoping that it will get enough attention to turn it into a business
-         Pay attention to the word "VALUES" in the definition; you can only trade things that are economically viable

And the other good thing about making transactions (apart from getting paid of course :)  )  is that you get to have reliable feedbacks quickly to start or speed up your iteration cycles