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Monday, March 06, 2006
I've Always Done it This Way

Good article in Fortune this month about Sheldon Adelson. He is the other casino tycoon in the world (other than Steve Wynn). Turns out, he is alot more successful, with a net worth of 5x Mr. Wynn.

One part of the article stuck out for me:

Adelson says" For me, businesses are like buses. You stand on a corner and you don't like where the first bus is going? Wait ten minutes and take another. Don't like that one? They'll just keep coming. There's no end to buses or businesses."

He then talks about how to spot business opportunities:

"It isn't enough to have a good product. The most important thing is to understand the direction of the industry. Study any industry, and you inevitably hear two things: 'I've always done it this way', or 'Everybody does it this way.' When you hear that, know there's an opportunity to do something different and add value."

posted by Rob @ 5:41 AM  
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