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Louis Pasteur gives strategy advise to business owners

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Louis Pasteur was one of history’s greatest chemists and microbiologists. His list of discoveries impact us to this day as we drink milk or take medicines. The business of inventing is a challenging profession for someone that needs to put food in the cupboard as a husband and father of five.

Business strategy is no different for an inventor. Pasteur needed to find needs that he could fulfill the same as today’s entrepreneurs need to find underserved markets.

Although Pasteur believed in chance he felt that chance alone was not a business strategy.

“Chance favors the prepared mind,” said Pasteur.

Many companies have found Pasteur’s words to be success paths for them. In the late 1920s the Kresge variety store chain saw a nation was falling in love with automobiles. The Detroit chain was primarily located in the downtown chopping district. They helped develop the theory of strip shopping centers and opened one near St. Louis. Soon suburban communities around the country were developing their own strip shopping centers and Kresge was the best equipped chain at understanding this new type of American shopper.

This is another installment of a series of motivational quotes providing information about the persons being quoted and the application to our daily life. It is based on material prepared by getmaximpact.com of Rochester Hills, Mich., and is intended as a tool for building the success of today’s business professionals. It is a ©2014 copyright by getmaximpact.com and used with their permission.

©2014 Max Impact, used with permission.

Business resources:

Small Business Administration in Detroit.

Detroit chapter of SCORE, pro bono business advisors.

Max Impact offers free business strategy and leadership development materials.

Life’s Leadership Lessons”: 53 anecdotal leadership lessons, most from people in the Detroit area.

Books about developing your business.

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