December 30, 2016

Coke and 3D Printing

I was just reading Ben Thompson’s excellent article about Aggregation Theory. In the article he says that when it comes to competitive differentiators: “If that differentiator is digitized, competition shifts to the user experience, which gives a significant advantage to new entrants built around the proper incentives” So for example, we used to have to […]

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December 29, 2016

A Powerful Question to Ask About Your Business

Would you be missed if you were gone? (I can’t recall where I first read this, so apologies for not citing the source) Companies that would be missed, are ones that have no clear substitutes. Hence their products have price inelasticity. They can raise their prices as Warren Buffett says without having a prayer session […]

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December 28, 2016

A Great Quote on Pricing

From this article: “An optimal price is one that is accepted but not without some initial resistance.” The corollary of this is that if people are accepting your prices without any hesitation (or you’re fully booked), your price is too low. (Of course this isn’t always true, but worth considering)

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December 27, 2016

Warren Buffett on Reading

I’m not sure if this is apocryphal, but a story I read online was of an exchange Warren Buffett had with a group of students he had just given a talk to. He told them the secret to success was reading 500 pages a day (of industry related reading). He then said “That’s how knowledge […]

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December 26, 2016

Everything That Can Be Invented…

In this article on the excellent 25iq blog, Tren Griffin addresses the claims by the economist Robert Gordon that innovation peaked in 1971. The claim itself reminds me of the quote attributed to Charles Duell (the Commissioner of the US Patent Office) in 1899: “Everything that can be invented has been invented.” It turns out […]

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December 25, 2016

Can You Outwork Your Competition?

Merry Christmas! For a bit of a motivation boost, watch this: In the opening credits of the show, Fredrik Eklund, by far the most successful of the three brokers, says “I’m the cloaser and a listing machine. What makes me better is that I work harder than anyone else.” Can you outwork your competition? In […]

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December 24, 2016

No, Not Product First.

“I have a great idea for a product, and I’m going to convince people to buy it” Although that seems to make sense, it’s doing things the wrong way around. Instead it should be: “I’ve noticed an unfulfilled need, and I’m going to create a product that solves that need” One starts with your product. […]

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December 23, 2016

Where Do You Come Up With Ideas?

As James Altucher says, being able to come up with ideas can be a huge advantage in life. But what’s often not mentioned is how your environment affects it. For instance, I find it easier to come up with ideas in a cafe, than sitting alone at my desk. Certain environments make certain activities easier. […]

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December 22, 2016

A New Way to Approach Networking

Jay Abraham’s writings are a treasure trove of information for someone wishing to improve their business. I recently read this line in his classic book “Getting Everything You Can Out of All You’ve Got”: “Breakthroughs increase in direct proportion to the amount of networking, brainstorming and masterminding you do with like-minded, success-driven people outside your […]

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