Summary of Hoover's Vision

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In this intriguing volume, entrepreneur Gary Hoover, founder of Hoovers Inc., the corporate data Web site, lets readers tap into his lifetime of business experience. Much of his advice is intriguingly simple. To be a successful entrepreneur, Hoover says, figure out what people want, then find a way to give it to them. Hoover’s instructions on thinking creatively are particularly useful. His observations about the state of global trade are, perhaps, less useful. Readers won’t learn much from his pronouncements that China is poised to become the world’s largest economy, or that India and Brazil have risky economies with great potential. Still, Hoover offers readers plenty of rewarding material about how to build their entrepreneurial curiosity and mental scope. getAbstract recommends this resource to entrepreneurs who want to hone their analytical skills.

About the Author

Gary Hoover, a strategic planner who advises entrepreneurs, began his career as a Wall Street analyst. He founded one of the first book superstores and launched Hoovers, Inc., a Web site that provides information about corporations.



The Importance of Vision

To do well in business, take three surefire steps: 1) Study consumers and the evolution of their wants, needs and preferences; 2) Improve the lives of others; and 3) Create a personal way of working that enables you to meet your customers’ requirements while satisfying your passions and talents.

Turning passion into profit requires more thought than implementing most general business rules. Every successful business starts as an idea, but evolves into “an articulate and well-defined vision.” Too many businesspeople overlook the importance of vision, or pooh-pooh it as a wishy-washy concept. In truth, vision is easy to quantify: If you were run over by a bus today, would your employees know your goals and values, and be able to execute your plans in your absence? If the answer is no, then you haven’t communicated a strong vision. A vision has many roles: It brings people together, motivates them and provides them with a navigational goal during difficult times. A useful vision has four characteristics:

  1. Clarity – Southwest Airlines is a model of clarity. Its mission always has been to provide a low-cost, no-frills trip. To implement...

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