Delegate after establishing profitability
ManagementA founder should stay hands-on during the initial setup of a new location but hand it over to a manager once it is running profitably.
Hall of Masters
P. T. Barnum
P. T. 바넘
Marketing, brand and copywriting1810-1891
American showman, author of The Art of Money Getting
884 records in all
- Principles 299
- Episodes 371
- Quotes 214
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Photo: Brady-Handy Photograph Collection (Library of Congress) Public domain Original cropped
Principles
45 basic records of 299
Principles are our summary of their public statements.
Target the Appreciative Middle Class
CustomersInitial success and massive scale can be achieved by appealing to the intelligent middle class before the elite society follows.
Authenticity as a Competitive Edge
BrandA performer's success is sustained when their art feels like a spontaneous and integral part of their character rather than a practiced feat.
Call the bluff in negotiations
NegotiationWhen a partner threatens to cancel a contract through an intermediary, stay calm and offer to settle immediately on the agreed terms to reveal if they are bluffing.
Use Novelty for Free Publicity
MarketingPerforming mundane tasks with extraordinary tools, like using an elephant for farming, creates public curiosity and free word-of-mouth advertising.
Turn Risk into Marketing Narrative
BrandBe transparent about the difficulty and high cost of a project to build value and justify the price in the customer's mind.
Legacy Through Infrastructure
StrategyHe invests in long-term community assets like hospitals, parks, and transportation companies to ensure a lasting impact beyond his primary business.
Maintain integrity against monopolies
IntegrityBarnum advocates for the rights of the common consumer against large corporations, such as railroads, to ensure fair treatment and long-term business growth.
Leverage Collective Buying Power
StrategySmall business owners can combine their orders with competitors to bid on large lots, securing lower rates than they could achieve individually.
3 more supporting quotes are in the member records.
Identify and Fill Human Needs
StrategySuccess comes from recognizing that people have an insatiable need for amusement and sensation that is as real as their need for physical goods.
3 more supporting quotes are in the member records.
Maintain Presence of Mind
ResilienceIn moments of extreme danger or conflict, quick thinking and immediate action can resolve a crisis that seems insurmountable.
2 more supporting quotes are in the member records.
Control your distribution channels
ManagementHigh sales volume can still lead to bankruptcy if the agents or intermediaries are irresponsible and consume all the margins.
3 more supporting quotes are in the member records.
The Value of Indirect Advertising
BrandInvest in exhibitions or events that might not turn a direct profit but generate newspaper mentions and public conversation to build brand fame.
3 more supporting quotes are in the member records.
Strategic Generosity
NegotiationUse low-cost, high-perceived-value items as gifts to smooth over bureaucratic hurdles and build rapport with officials.
Supporting quotes
I laughingly replied, "Why, I consider you the eminent Professor Pinte, preceptor to General Tom Thumb; but, after all, we are all showmen."
Source P. T. Barnum Struggles and Triumphs: or, Forty Years' Recollections of P. T. Barnum (opens in a new tab)
1 more supporting quote is in the member records.
Arbitrage of Jurisdiction
StrategyLook for legal loopholes or independent jurisdictions within a city to avoid heavy taxes and fees imposed by mainstream venues.
Supporting quotes
I laughingly replied, "Why, I consider you the eminent Professor Pinte, preceptor to General Tom Thumb; but, after all, we are all showmen."
Source P. T. Barnum Struggles and Triumphs: or, Forty Years' Recollections of P. T. Barnum (opens in a new tab)
1 more supporting quote is in the member records.
Verify the local customs
RiskBusiness owners should be aware that 'the custom of the country' can be used to justify poor service or dishonesty, requiring extra vigilance.
1 more supporting quote is in the member records.
Match the tool to the task
StrategyOne should recognize that different problems require different approaches or personalities to solve them effectively.
Supporting quotes
I hold that every faith has somewhat of truth; and that each sect, in its way, does a work which perhaps no one of the other sects can do as well.
Source P. T. Barnum Struggles and Triumphs: or, Forty Years' Recollections of P. T. Barnum (opens in a new tab)
1 more supporting quote is in the member records.
Defuse tension with grace
NegotiationHandling provocations with quiet wit and grace is more effective than engaging in a direct conflict or losing one's temper.
Supporting quotes
I hold that every faith has somewhat of truth; and that each sect, in its way, does a work which perhaps no one of the other sects can do as well.
Source P. T. Barnum Struggles and Triumphs: or, Forty Years' Recollections of P. T. Barnum (opens in a new tab)
1 more supporting quote is in the member records.
Adapt content to local values
MarketingA business owner should tailor their product or entertainment to align with the moral and cultural standards of the local community to ensure patronage.
3 more supporting quotes are in the member records.
Refuse to be demoted
LeadershipIf you are the one taking the risk and hiring talent, do not allow yourself to be repositioned as a mere employee or manager of that talent.
1 more supporting quote is in the member records.
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