Master the long game: 13 lessons for building a business that lasts 💪

Lead, grow, and succeed with the strategies from Know What Matters by Ron Shaich

Nov 20, 2024

Daniel’s verdict ✅

Ron Shaich doesn’t just talk about building a business — he’s lived it. Know What Matters skips the fluff and goes straight to what actually works. This book isn’t about shortcuts; it’s a blueprint for real, long-lasting success. Shaich’s advice is brutally practical, whether you’re reinventing your company, making smart moves, or knowing when to walk away. If you’re serious about playing the long game and building something that lasts, this book belongs on your desk, not just your bookshelf.

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Here are 13 key takeaways from Ron Shaich to help you build a business that matters and live a life you respect:

1️⃣ Start with the future and work backwards

Don’t just react to what’s happening now. Think about where things are heading and work backwards to make it happen. That’s how you stay ahead instead of playing catch-up.

2️⃣ Stand out or get stuck in the grind

If you’re not standing out, you’ll end up in a race to the bottom. Find what makes your business different, whether it’s great customer service, top quality, or innovation — and own it.

3️⃣ Profit follows value creation

Forget chasing quick wins. Real success comes from creating value people care about. Solve real problems, and the profits will follow. Play the long game.

4️⃣ Reinvent, rinse, repeat

What worked yesterday might not work tomorrow. Keep evolving. Reinvent yourself when the market shifts, or new opportunities pop up. Don’t stick to the same playbook forever.

5️⃣ Smart bets, big payoffs

Take calculated risks. The big wins come when you bet smart and play the long game. Spot where the market’s going and invest in the future, even if others don’t see it yet.

6️⃣ Be patient, real growth takes time

Overnight success is a myth. Real growth takes time, so focus on building something sustainable. Quick wins are great, but lasting businesses play the long game.

7️⃣ Never settle — challenge everything

Comfort kills progress. Don’t get too cosy with what’s working. Always ask if it’s still the right move, and don’t be afraid to scrap what isn’t. Reality checks keep you from getting stuck in old habits.

8️⃣ Hold onto your vision

Bringing in investors is part of the game, but don’t give away control. Stay true to your vision and keep steering your own ship.

9️⃣ Empathy is your leadership superpower

Great leaders aren’t just bosses — they’re empathetic. Understand what your customers and team need, and you’ll solve problems faster. Empathy isn’t weak; it’s how you win.

🔟 Cut your losses, don’t cling to mistakes

Not every project will be a success, and that’s okay. Know when to walk away. Don’t waste time holding onto things that aren’t working. Be bold and pivot when you need to — your next big thing is probably waiting.

1️⃣1️⃣ Execution beats ideas, every time

Ideas are great, but execution is what makes them real. Follow through, stay consistent, and get it done. Consistency will always beat flashes of inspiration.

1️⃣2️⃣ Hire for the mission, not just the skills

Your team is everything. Find people who believe in your mission, not just those with fancy qualifications. Skills can be taught, but passion can’t.

1️⃣3️⃣ Curiosity is your secret weapon

Stay curious and keep learning. The world changes fast, and curiosity keeps you ahead of the game. Explore new ideas, learn from different industries, and stay sharp.

👤 About the author

Ron Shaich is the founder and former CEO of Panera Bread. He’s known for revolutionising the American restaurant industry with the fast-casual dining concept, which became a $100 billion market. Over his career, Shaich built three iconic brands |(Au Bon Pain, Panera Bread, and Cava) turning a tiny cookie shop into an empire with 2,400 restaurants and $5 billion in revenue. He’s famous for thinking long-term and outpacing competitors like Starbucks and Chipotle by staying bold and ahead of the curve.

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