When the business grows, the person who founded it is incredibly busy. Rapid growth puts an enormous strain on a business. You outgrow your production facilities. You outgrow your management capabilities.

Managing innovation will increasingly become a challenge to management, and especially to top management, and a touchstone of its competence.

People alone of all the resources can grow and develop.

Entrepreneurs believe that profit is what matters most in a new enterprise. But profit is secondary. Cash flow matters most.

Only three things happen naturally in organizations: friction, confusion, and underperformance. Everything else requires leadership.

No financial man will ever understand business because financial people think a company makes money. A company makes shoes, and no financial man understands that. They think money is real. Shoes are real.

Look at government programs for the past fifty years. Every single one - except warfare - achieved the exact opposite of its announced goal.