For those who aren’t familiar with Derek he is the founder of CDBaby.com. He started his business in 1998 with $500 and sold it for $22 million in 2008 when he realized that it had demands that he was no longer willing to do. Prior to the sale he set up a charitable trust for music education… which was the beneficiary of the sale. How appropriate since from day one… his mission… his focus… his passion… was to help musicians distribute their music.
He tells an incredible story of his many unconventional business philosophies. As you read them I’m sure many will resonate as they did with me.
Stay true to your passion. We can always use a reminder that our passion is what we are born to do… so DO IT!
Be lean and mean. Bigger isn’t always better as the past few years have taught us. When you’re lean you are more agile and like a palm tree… able to bend with the wind… and stay focused. Derek refused investors because as he writes "none of your customers will ask you to turn your attention to expanding. They want you to keep your attention focused on them". Duh!
Delegating is a must. It’s easier said then done, right? Derek’s method? When people had questions he didn’t simply answer the question, he explained the thought process behind the answer. He had them write it down and put it in a manual. Clever!
Derek’s book is a fast read… less than an hour (like all three of my books… shameless plug!) And it’s full of fresh perspectives to common business issues and YES they are applicable to law firms… you just have to think outside the box.