What is business? Business is understanding what people want and supplying it in exchange for what you want. What you want does not have to be money; it could be in the form of social or cultural currency. If we are depending on others to survive or thrive, we are conducting business.
If you don’t understand what people want, you would fail even if you are able to supply goods and services.
If you can’t supply goods and services, you would fail even if you understand what people want.
Business requires balancing the two sides of the equation.
