Page 85 - Midas Touch

entrepreneur knows how to turn a product idea into a great
product by focusing on building a great B-I Triangle. The
B-I Triangle isn’t just a concept. It is a tool that many
successful entrepreneurs have modeled their companies

around.

Again, notice the importance of the word “focus” and what
people focus on.
Legal

Robert learned early that a product without legal protection
is everyone’s product, not yours. His Velcro-wallet idea was

copied over and over. Legal agreements are important
because they create property. In the case of the wallet
business, legal agreements would have created intellectual
property. In the case of Donald’s world of real estate, legal
agreements define real property ownership, rights and
limitations.

In business, you can’t operate without legal agreements,
which are essential to defining and creating products.
Through patents, trademarks, licenses, and service
agreements for services, a company builds its own property,
which adds value and protection to the company. Without a
strong legal team and sound legal agreements, you will

always have confusion, chaos, even crime—all of which
costs money and weakens the business.
Systems

A business is a system of systems. It has to be, or no
business would ever grow beyond the capabilities of its
founder and maybe a few key people. The bigger it gets
without systems in place, the more fragile it becomes. Our

physical bodies, and even a car, are both systems of
systems. Our bodies are made up of systems like the
skeletal system, the nervous system, the digestive system,
and the endocrine system. A car has a brake system, fuel
system, electrical system, exhaust system, and so on. They