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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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The Worst Business Model in the World summary
Danny Schuman
A New Kind of Guide for a New Kind of Entrepreneur
16 mins
Brief summary
'The Worst Business Model in the World' by Danny Schuman is a guide for entrepreneurs to reflect on their business model and develop strategies to shift towards a more customer-focused approach. It encourages business owners to prioritize their customers' needs over their own.
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The Worst Business Model in the World
Summary of 6 key ideas
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Key idea 1 of 6
Using the Us Doing Our Thing model makes entrepreneurship human and approachable.
If you’ve ever spent a day in the office staring at the clock and just waiting for the day to be over, then you’ll know the value of earning money doing something you love.
That’s where Us Doing Our Thing – UDOT, for short – comes in. It’s an entrepreneurship model that adds a little process to doing what you love and figuring out the rest along the way.
UDOT entrepreneurs, or UDOTs, work for themselves rather than a boss. They focus on what they’re good at and what gets them excited.
Sounds great, right? But there’s a catch: UDOTs aren’t very good at the logistical and technical side of things.
That’s a problem, because success is partly built on these foundations. After all, no business is going to make it if it can’t get a website up and running or comply with existing laws and regulations.
But UDOTs either don’t care or aren’t very good at that stuff. They like working things out on the fly.
If that sounds familiar, these blinks are for you. Think of it as the business part of your business – the essentials that support the fun stuff.
It may make the UDOT style of entrepreneurship sound like the worst business model possible. It might be chaotic, but it’s also rewarding.
Granted, it doesn’t fit the common sense idea of what a business is – it’s not about planning and minimizing risk at every turn. Nor is it about making as much money as possible. What it is about is living in the moment, being flexible and experiencing your version of success.
You have to make enough money to live well, of course, but as your parents probably taught you, money can’t buy happiness.
Few things nurture the soul like freedom. That’s what UDOTs cherish above all else – the chance to seek out exciting new opportunities and never be bored.
It may go hand-in-hand with project-based work and a degree of financial insecurity. But it’s worth it.
The upsides? Well, they include working when and where you like, seeing more of your family and friends, pursuing your interests and turning down work you don’t care for.
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What is The Worst Business Model in the World about?
The Worst Business Model in the World (2018) takes a look at a business model that seems like a nightmare on paper but works like a dream in the real world. Traditionalists might call it anarchic but, as the go-getters putting it into practice know, there’s nothing wrong with a bit of creative chaos, especially if it helps you do more of what you love and less of what you hate.
The Worst Business Model in the World Review
The Worst Business Model in the World (2021) by Danny Schuman offers an intriguing exploration of unconventional business practices and why they often lead to success. Here's why this book is definitely worth reading:
- By challenging traditional business models, the book presents fresh and innovative perspectives that can inspire entrepreneurs to think outside the box.
- Through a mix of case studies and expert analysis, the book demonstrates how seemingly counterintuitive strategies can yield remarkable results.
- With its engaging anecdotes and thought-provoking insights, this book is a refreshing departure from typical business literature, proving that learning about business can be anything but boring.
Best quote from The Worst Business Model in the World
A positive story on its own may not win business, but it will win people.
—Danny Schuman
Who should read The Worst Business Model in the World?
- Entrepreneurs or people thinking about becoming one
- Start-up enthusiasts
- Freelancers
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The Worst Business Model in the World FAQs
What is the main message of The Worst Business Model in the World?
The main message of The Worst Business Model in the World is to challenge traditional business practices and embrace creativity and innovation.
How long does it take to read The Worst Business Model in the World?
The reading time for The Worst Business Model in the World varies based on individual reading speed. However, the Blinkist summary can be read in just 15 minutes.
Is The Worst Business Model in the World a good book? Is it worth reading?
The Worst Business Model in the World is a thought-provoking read that challenges conventional thinking. It provides valuable insights into unorthodox business practices.
Who is the author of The Worst Business Model in the World?
The author of The Worst Business Model in the World is Danny Schuman.
What to read after The Worst Business Model in the World?
If you're wondering what to read next after The Worst Business Model in the World, here are some recommendations we suggest:
- Digital Darwinism by Tom Goodwin
- Either/Or by Soren Kierkegaard
- Business Model Generation by Alexander Osterwalder and Yves Pigneur
- Reinventing the Product by Eric Schaeffer and David Sovie
- The Startup Lifecycle by Gregory Shepard
- The Book on Rental Property Investing by Brandon Turner
- The 5 AM Club by Robin Sharma
- The Art of Reading Minds by Henrik Fexeus
- Artificial Intelligence & Generative AI for Beginners by David M. Patel
- Anarchism by Colin Ward
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