Gap Selling Quotes

When you start seeing your product as your customer’s product and not as your product, you will start seeing all the missing gaps.

Listen to people from your heart, as if your life depended on it, and you will find that in turn people will listen to you with all of theirs.

The choices you make from this day forward will lead you, step by step, to the future you deserve.

Whilst people have answered questions, I have only heard my own voice thinking of the next question.

Spend your time designing the greatest reputation a man could possess.

I was so sure that I knew what they needed and what I wanted to sell them that I never stopped long enough to find out what it was they wanted to buy.

Most men have professions, yet few act like professionals.

Investing isn’t a game - It has a substantive impact on the living of life and the development of civilization. It’s not just about stock tickers and opening bells and timing buys and sells to get a quick profit in the gap…. It effects when and where houses are built, the quality of schools, the accessibility of organic food, the price of solar relative to gasoline…. Investments direct the development of civilization.

Speaking from the heart is simple. Listening wholeheartedly, however, is much, much more difficult and most rare.

What you deserve will be down to you, and you alone.

Destiny and fate are of one’s own making, and riches and happiness are rarely found at the end of an easily-traversed path.

Everything would have been for nothing just because I simply didn’t listen.

I should become happier at what I do and leave others happier than before they’d met me.

Finding happiness by delivering it.

In this world of half-jobs and liars, I will prevail.

It's simple,' Kat told them. 'You bombard them with images of what they ought to be, and you make them feel grotty for being the way they are. You're working with the gap between reality and perception. That's why you have to hit them with something new, something they've never seen before, something they aren't. Nothing sells like anxiety.

If you woke before dawn one morning with the formula for a vaccine, which would cure the most ghastly disease currently known to man, releasing millions from an agonising death, would you roll over and resume sleeping until daylight?

I have discovered fallen trees across my path and have possessed neither the strength to move them nor the patience or tenacity to find an alternative way round. I have simply returned to where I came from, and told myself there had been no other choice.

You’ve got to be driven to become successful.

The only time you have is the where and when of right now. There will always be good times, bad times, hard times, and complete disasters. However, there is no other option but to be where you are, when you are. That is a universal truth for everyone. The important thing is how you respond, what you decide to do, and when you decide to do it.

You're working with the gap between reality and perception. That's why you have to hit them with something new, something they've never seen before, something they aren't. Nothing sells like anxiety.

War thoughts again. I think back to the business cards from that health shop earlier on. I think about miniature wars that individuals fight all the time. They fight against cellulite, or negative emotions, or addictions, or stress. I think about how we can now hire all different sorts of mercenaries to help us fight against ourselves…Therapists, manicurists, hairdressers, personal trainers, life coaches. But what’s it all for? What do all these little wars achieve? Although it is a part of my life too, and I want to be thin and pretty and not laughed at in the street and not so stressed and mad that I start screaming on the tube, it suddenly seems a little bit ridiculous. All the time we do these things we are trying to enlist ourselves into a bigger war. We are trying to join up, constantly, with the enemy. - Hitler tried to impose his shiny, blonde, neat, sparkling world on us all and we resisted. So how is it that when McDonald’s and Disney and The Gap and L’Oreal and all the others try to do the same thing we all just say, ‘OK’? Hitler needed marketing, that’s all. His propaganda was, of course, brilliant for its time, everyone knows that. What a great idea, to make people feel that they belong to something, that their identity makes them special. If Hilter had bee able to enlist a twenty-first-century marketing department, would he have been able to sell Nazism to everyone? Why not? You can just see a beautiful, thin woman with her long blonde hair moving softly in the breezes, and the tagline ‘Because I’m worth it’.

No problem, no sale In every sale there’s a gap All sales are about change Customers don’t like change Sales are emotional Customers do like change when they feel it’s worth the cost Asking “Why?” gets customers to “Yes” Sales happen when the future state is a better state No one gives a shit about you

It's simple," Kat told them. "You bombard them with images of what they ought to be, and you make them feel grotty for being the way they are. You're working with the gap between reality and perception. That's why you have to hit them with something new, something they've never seen before, something they aren't. Nothing sells like anxiety.

Trumpeting feature benefits that may or may not be of value to your customer will not get you closer to the sale. Mentioning your place on the Fortune 500 will not get you any closer to the sale. In fact, every time you talk about yourself, you risk triggering those change-resistant, emotionally fraught thoughts and feelings in your customers.

They think giving people longer prison sentences is going to teach people a lesson. Well that is just fantasy, as we just take our drugs and violence in to the prison. Our brothers and sisters, pals or rivals outside plug the gap that has been left by the dealer that was selling the crack or smack in the first place. Just like kamikazes, when one is dead, fifty queue up to take their place.

It was at that moment that Markisha decided to apply for CalWORKs. She’d rented a room in an apartment she shared with a barber in her neighborhood, and she needed some help paying for it. CalWORKs meant three hundred dollars a month, plus food stamps. So she went to the local welfare office—a “Family Resource Center,” known as an FRC—and walked inside. She was barely sober, emotionally a wreck, literally penniless, and her entire ambition in life was to keep and maintain a room and a half in a rundown section of west San Diego without having to sell her body to pay the rent. This is the kind of person at whom the weight of the state’s financial fraud prosecution apparatus tends to be trained in America. Markisha entered the financial fraud patrol zone when she walked through those doors at the FRC. For three hundred dollars a month, she was about to become more heavily scrutinized by the state than any twelve Wall Street bankers put together. The amounts of money spent in these kinds of welfare programs are very small, but the levels of political capital involved are mountainous. You can always score political points banging on black welfare moms on meth. And the bureaucracy she was about to enter reflects that intense, bitterly contemptuous interest.

The sudden introduction of these magic mortgage bonds into the marketplace pushed most every major institutional investor in the world to suddenly become consumed with the desire to lend money to American home borrowers, even if they didn’t know to whom exactly they were lending or how exactly these borrowers were qualifying for their home loans. As a result of this lunatic process, houses in middle- and lower-income neighborhoods from Fresno to the Jersey Shore became jammed full of new home borrowers, millions and millions of them, who in many cases were not equal to the task of making their monthly payments. The situation was tenable so long as housing prices kept rising and these teeming new populations of home borrowers could keep their heads above water, selling or refinancing their way out of trouble if need be. But the instant the arrow began tilting downward, this rapidly expanding death-balloon of phony real estate value inevitably had to—and did—explode.

I imagine a hierarchy of happiness; first purchased in the 1970s, a couple would sit here, dining on meals cooked from brand-new recipe books, eating and drinking from wedding china like proper grown-ups. They’d move to the suburbs after a couple of years; the table, too small to accommodate their growing family, passes on to a cousin newly graduated and furnishing his first flat on a budget. After a few years, he moves in with his partner and rents the place out. For a decade, tenants eat here, a whole procession of them, young people mainly, sad and happy, sometimes alone, sometimes with friends, lovers. They’d serve fast food here to fill a gap, or five stylish courses to seduce, carbohydrates before a run and chocolate pudding for broken hearts. Eventually, the cousin sells up and the house clearance people take the table away. It languishes in a warehouse, spiders spinning silk inside its unfashionable rounded corners, bluebottles laying eggs in the rough splinters. It’s given to another charity. They gave it to me, unloved, unwanted, irreparably damaged. Also the table.

Bookshops are oceans and sections are like tides, they grow and they shrink, they grow and the shrink. It depends on the season and what's selling and what new trends are emerging. Scandi Noir, Dystopian YA, Adult Coloring In, Hygge. It only takes one bestseller to start a tsunami of copycats. Just as you think the swell is here to stay, sales start to taper off and the bookshop breathes and contracts and swallows whatever stock didn't sell, reabsorbs it back into the master section, back into crime or YA or crafts and we rearrange everything to fill the gap until the next trend gains momentum. A good bookseller can sense when the tides are turning, when sales are starting to wane. A bad bookseller doesn't adapt to change, will cling to those declining sales instead of embracing the next big thing. A really bad bookseller will favor their personal taste over customer interest.

Hong Kong became a British colony after the Treaty of Nanking in 1842, the result of the Opium War. This was a particularly shameful episode, even by the standards of 19th-century imperialism. The growing British taste for tea had created a huge trade deficit with China. In a desperate attempt to plug the gap, Britain started exporting opium produced in India to China. The mere detail that selling opium was illegal in China could not possibly be allowed to obstruct the noble cause of balancing the books. When a Chinese official seized an illicit cargo of opium in 1841, the British government used it as an excuse to fix the problem once and for all by declaring war. China was heavily defeated in the war and forced to sign the Treaty of Nanking, which made China 'lease' Hong Kong to Britain and give up its right to set its own tariffs. So there it was-the self-proclaimed leader of the 'liberal' world declaring war on another country because the latter was getting in the way of its illegal trade in narcotics. The truth is that the free movement of goods, people, and money that developed under British hegemony between 1870 and 1913-the first episode of globalization-was made possible, in large part, by military might, rather than market forces. Apart from Britain itself, the practitioners of free trade during this period were mostly weaker countries that had been forced into, rather than had voluntarily adopted, it as a result of colonial rule or 'unequal treaties' (like the Nanking Treaty), which, among other things, deprived them of the right to set tariffs and imposed externally determined low, flat-rate tariffs (3-5%) on them.

To summarize the strategy: An Angel is a low float Stock in Play which is gapping with heavy volume in the pre-market. At the market Open, our Angel makes a new high of the day but sells off quickly. You do not want to jump into the trade yet, not until it consolidates around an important trading level such as the low of the pre-market, or moving averages on your daily or 5-minute chart. This is where our Angel will have fallen to. As soon as the stock is coming back up with heavy volume, that is the place you take the trade to the long side. The entry signal is to see a new 1-minute or 5-minute high after the consolidation with MASSIVE volume only. You must remember that the volume on the way up needs to be significantly higher than previous candlesticks. The stop loss is below the consolidation period. The profit target can be (1) VWAP, (2) the then high of the day, (3) the high of the pre-market, and (4) any other important level nearby such as Y High or Y Low. If you don’t see an obvious support level and consolidation, do not trade the stock. If you see a breakout but it does not have strong volume, do not trade the stock. Fallen Angel is generally a difficult strategy to trade, especially since it is difficult to manage the risk in. You will have seen in the above examples that most of the drops are sharp, and if you are not quick in getting out of a losing trade, you may get stuck in a very bad position and be forced to accept a heavy loss. Remember, these stocks often gapped up significantly and can lose the majority of their gap during the day, so holding them during the day may not be a good idea, especially if volume is dropping during the day. I recommend trading this strategy in the simulator for some period of time before trading it live. When you go live, make sure to take small size. I know, it is easy to take a 10,000 share on a $1 stock, but remember, every cent up and down in a $1 stock is the equivalent of a 1% swing in your position. I usually take 4,000 shares for low float stocks below $10.

Once trade connects two areas, the forces of supply and demand tend to equalise the prices of transportable goods. In order to understand why, consider a hypothetical case. Assume that when regular trade opened between India and the Mediterranean, Indians were uninterested in gold, so it was almost worthless. But in the Mediterranean, gold was a coveted status symbol, hence its value was high. What would happen next? Merchants travelling between India and the Mediterranean would notice the difference in the value of gold. In order to make a profit, they would buy gold cheaply in India and sell it dearly in the Mediterranean. Consequently, the demand for gold in India would skyrocket, as would its value. At the same time the Mediterranean would experience an influx of gold, whose value would consequently drop. Within a short time the value of gold in India and the Mediterranean would be quite similar. The mere fact that Mediterranean people believed in gold would cause Indians to start believing in it as well. Even if Indians still had no real use for gold, the fact that Mediterranean people wanted it would be enough to make the Indians value it. Similarly, the fact that another person believes in cowry shells, or dollars, or electronic data, is enough to strengthen our own belief in them, even if that person is otherwise hated, despised or ridiculed by us. Christians and Muslims who could not agree on religious beliefs could nevertheless agree on a monetary belief, because whereas religion asks us to believe in something, money asks us to believe that other people believe in something. For thousands of years, philosophers, thinkers and prophets have besmirched money and called it the root of all evil. Be that as it may, money is also the apogee of human tolerance. Money is more open-minded than language, state laws, cultural codes, religious beliefs and social habits. Money is the only trust system created by humans that can bridge almost any cultural gap, and that does not discriminate on the basis of religion, gender, race, age or sexual orientation. Thanks to money, even people who don’t know each other and don’t trust each other can nevertheless cooperate effectively.

Yet why should Chinese, Indians, Muslims and Spaniards – who belonged to very different cultures that failed to agree about much of anything – nevertheless share the belief in gold? Why didn’t it happen that Spaniards believed in gold, while Muslims believed in barley, Indians in cowry shells, and Chinese in rolls of silk? Economists have a ready answer. Once trade connects two areas, the forces of supply and demand tend to equalise the prices of transportable goods. In order to understand why, consider a hypothetical case. Assume that when regular trade opened between India and the Mediterranean, Indians were uninterested in gold, so it was almost worthless. But in the Mediterranean, gold was a coveted status symbol, hence its value was high. What would happen next? Merchants travelling between India and the Mediterranean would notice the difference in the value of gold. In order to make a profit, they would buy gold cheaply in India and sell it dearly in the Mediterranean. Consequently, the demand for gold in India would skyrocket, as would its value. At the same time the Mediterranean would experience an influx of gold, whose value would consequently drop. Within a short time the value of gold in India and the Mediterranean would be quite similar. The mere fact that Mediterranean people believed in gold would cause Indians to start believing in it as well. Even if Indians still had no real use for gold, the fact that Mediterranean people wanted it would be enough to make the Indians value it. Similarly, the fact that another person believes in cowry shells, or dollars, or electronic data, is enough to strengthen our own belief in them, even if that person is otherwise hated, despised or ridiculed by us. Christians and Muslims who could not agree on religious beliefs could nevertheless agree on a monetary belief, because whereas religion asks us to believe in something, money asks us to believe that other people believe in something. For thousands of years, philosophers, thinkers and prophets have besmirched money and called it the root of all evil. Be that as it may, money is also the apogee of human tolerance. Money is more open-minded than language, state laws, cultural codes, religious beliefs and social habits. Money is the only trust system created by humans that can bridge almost any cultural gap, and that does not discriminate on the basis of religion, gender, race, age or sexual orientation. Thanks to money, even people who don’t know each other and don’t trust each other can nevertheless cooperate effectively.

Because longevity promotes favorability, it may confer legitimacy.

Before we dive into specific examples, let’s first look at a simple, four-step, codified breakdown for a typical infomercial pitch: 1. The Problem: Here’s the problem you’re experiencing today, based on your status quo state or the solution you’re already using. This is where the tension is created. Where they “cut you” and get you to see you are bleeding (as we discussed in chapter 4)! In some cases, this pain might be top of mind, or it might be hidden, latent, or even something you may not think about all that often. This is also a perfect place to call out the enemy you identified earlier in this chapter. For example, if this were an infomercial for a set of space-aged kitchen knives that never need sharpening, the narrative might begin with a poor fool trying to cut a red, ripe tomato with an old, dull knife. As the grainy black-and-white footage rolls, the unsuspecting subject squashes the tomato with their sub-par knife, sending seeds and tomato flesh flying in all directions (and ruining the white suit they were wearing for some reason). Tension is created as the viewer starts to see themselves as the subject or hero of this story. 2. The Ideal Solution: Here’s the ideal solution to the problem. While not always top of mind, people often know the solutions to problems but see them as requiring too much effort and cost. In other words, spending money or investing time doing something our hero doesn’t want to do can usually solve the problem. This is where that solution is positioned. For example, the ideal solution to our dull knife problem is to go to a fancy kitchen store and purchase some top-of-the-line Japanese hand-forged steel knives. In a business context, many problems can be solved by throwing tons of time, money, and both human and technical resources at a them. 3. The Problem with That Ideal Solution: This is what makes that ideal solution difficult or less desirable. Here, you are creating contrast between where your hero is today and where they need to get to—a large gap they need to overcome. In doing this you are positioning the ideal solution as something they don’t want to or can’t make happen. For example, you could go to the kitchen store and buy those fancy knives, but they cost hundreds of dollars that you would rather not spend. The same goes for the massive business resource splurge suggested in the previous step. 4. Enter Our Solution: The stunning climax! Here’s how investing in our product, service, or solution can help you overcome the problem and pain you’re experiencing, while at the same time circumventing the challenges associated with the ideal solution.

1. Don’t buy stocks that are hitting 52-week lows. We have already discussed this point, but it bears repeating, simply because so many new traders lose a lot of money trying to catch the proverbial “falling knife.” In spite of what everyone will tell you, you are almost always much better off buying a stock that is hitting 52-week highs than one hitting 52-week lows. Has a company that you own just reported some really bad news? If so, remember that there is never just one cockroach. Bad news comes in clusters. Many investors recently learned this the hard way with General Electric, which just kept reporting one bad thing after another, causing the stock to crash from 30 to 7. There is no such thing as a “safe stock.” Even a blue chip stock can go down a lot if it loses its competitive advantage or the company makes bad decisions. A cascade of bad news can often cause a stock to trend down or gap down repeatedly. If you own a stock that does this, it is often better to get out and wait a few months (or years) to reenter. Again, there is never just one cockroach. Never buy a stock after you have seen the first cockroach. When a stock goes down a lot, it can affect the company's fundamentals as well. Employee and management morale will deteriorate, the best employees may leave the company, and it may become more difficult for the company to raise money by selling shares or issuing debt. Conversely, when a stock goes up a lot, it can improve the company's fundamentals. Employee and management morale will be high, everyone at the company will want to work harder, it will be easier to recruit new talent, and it will become easier for the company to raise money by issuing stock or debt. If you stick to stocks that are trading above their 200-day moving averages, or that are hitting 52-week highs, you will do much better than trying to catch falling knives.

Hayek was too polite to say so, but part of the problem was that Wick- sell wrote in German.6 In the Treatise Keynes had mentioned in passing his awareness of a “neo-Wicksell” school whose writings on savings, invest- ment, and the credit cycle (he identifies works by Mises and Neisser, as well as Hayek’s Geldtheorie und Konjunkturtheorie) were similar to his own. But he went on to add, fatefully, in a footnote, “In German I can only clearly understand what I know already!” (J. M. Keynes 1971c [1930], 178). This led the Swedish economist Gunnar Myrdal (1939 [1933]) to offer his well-known observation about “the attractive Anglo-Saxon kind of unnecessary originality, which has its roots in certain systematic gaps in the knowledge of the German language on the part of the majority of English economists

While great negotiators can sometimes turn situations where there is a gap between buyer and seller MAOs, in many cases, the price gap is impossible to overcome and the likelihood of a deal is small. For that reason, we typically like to take one of two approaches to these types of negotiations: Go in with a very low offer (typically at or below your target price) in hopes of shocking the seller into realizing that his property is worth much less than he had thought. If he doesn’t walk away and is still willing to negotiate, there is a chance that he is more highly motivated than you had anticipated, and he may reduce his MAO. If we wanted to go this route for the example above, we’d likely pick an opening price bid somewhere in the $140,000 to $150,000 range. Communicate to the seller that you don’t want to insult him with a low price and that you don’t plan to make an offer. The seller will either thank you for your honesty (in which case there was no deal to be made), or the seller will ask you what your price would have been. If the seller is interested in what you would have offered, that’s an indication that he may be more motivated than we suspected, and again, may be willing to move off his MAO. If the seller asks you what your offer would have been, we typically will present the offer exactly as we did in the first example above, but indicate that we might have a bit of flexibility in that price.

Because prospecting is everything. If

But that doesn’t mean the plan is as stable as the plan to build a house. In middle development, teams still have learning to do, but the team’s focus is more on producing the deliverables that their partners need to produce the product at scale, sell it and support it in the field. While the team still has some Key Decisions to make and Knowledge Gaps to close, their focus turns more towards executing decisions that have already been made.

Well, where does that leave us with regard to social action and practice? The answer is very far away. There still remains an enormous gap between what we have to grasp in order to ground moral action, to choose a course of action on moral grounds. An enormous gap between that and what we, in fact, understand about human nature and the human needs that derive from it, and the human rights that derive from it. Big gap. So, we are left where we were, with the need to make an intuitive leap and to posit some judgment about what real, intrinsic human nature is. In a sense, you're staking your faith in what you think or hope human beings may be. Now, if you take as your faith that of, say, the classical liberal doctrine, you will conclude that there is no justification, there's no moral justification for the commissar, the central committee, or the cultural or corporate manager, or any of the others who control and coerce us on species grounds. The actual classical liberal view, which is very different from what is known with its deep innatist roots, is very subversive and radical because it challenges the existence of any form of authority and requires that it be justified, which can rarely be done. It's not too surprising, I think, that the actual ideas of the Enlightenment have been subjected to such a broad-ranging attack. They are radical and subversive because of the faith that they express in human capacity, and human rights, and human needs, and their richness. And that's a deeply upsetting view from the point of view of any institutional structure which is concerned with control and manipulation, or any of the people who operate within those institutional structures. Well, if one takes this position, the next thing to do is to make the intuitive leap and turn to the concrete substantive questions of acting as a moral agent, choosing a course of action. And here what you do is seek out structures of authority and domination. Often we don't see them, so you have to try to find them even though they're there. Once you notice them, you see them and seek them out. Ask the question as to whether they, in fact, are legitimate for some contingent reason, say, self-defense or whatever argument is put forth. And if they fail that test, as they almost invariably do, to move forward to dismantle them, which means solidarity, organization, and so on. That's a hard task. But there are achievements. There are real achievements. For most of human history, for example, literal human slavery was considered legitimate. In fact, considered quite praiseworthy. It was for the benefit of these depraved creatures who shouldn't be left on their own. It's only a little tiny period of human history where this is considered a total obscenity. And the fact that it is considered a total obscenity is an achievement. In the 18th century, it was pointed out that wage slavery is fundamentally not very different from slavery. If people are compelled to rent themselves in order to survive, it's not very different than selling yourself in order to survive. That's an insight that has yet to be recovered, but it's a valid one. And, in fact, notice that it grows from these same conceptions of human nature. But, at least, literal human slavery would no longer be justified by, I suppose, almost anyone. That's an achievement. It's a moral achievement. It's a moral advance. Just in our own lifetimes, the questions of the legitimacy of sexist oppression have come to the fore. It's not like anybody noticed before, but there's been a sustained and committed effort to bring them to consciousness. And it's not long ago, anybody my age will know, that it's not long ago they just didn't see it, notice it. It was just part of the background. Now, at least you see it. The problems are there, but it's a moral advance that the problems are recognized to be there. There's some effort to come to terms with them.

As Amelia explained it to me, because the landlords knew that the coloured folk couldn’t get lodgings in the white neighbourhoods, they could charge more than twice the normal rent. Since coloured folk mostly got paid half of what a white worker got, people in Harlem were nearly always short on the rent. To bridge the gap, the good citizens of Harlem had taken to holding rent parties in which private homes were turned into temporary nightclubs, at 25 cents per guest. Cram enough people in, sell enough hooch and enough food and, even after expenses and paying the entertainment, you could clear a month’s rent, maybe two.

I heard business guru and best-selling author Seth Godin address this in a conference. Someone asked him how many subscribers he had to his blog. He told them he didn’t know. Because if he knew, he’d be tempted to make that number grow and he’d start to create content just to make the number grow. Then he said something that I think is so applicable to closing the gap between a day job and a dream job. “You can’t use analytics to figure out the message.” In other words, you can’t allow your results or the measurement of your progress to control your dream. What you do, the message, so to speak, has to be true and honest and come from the core of what you care about, not be a whim in the whirling winds of analytics. You

Maybe you need an adult gap year. Sell up, travel, write … see what the world offers you.” I can’t deny even the idea of it stirs something new in me. I need adventure. New horizons. Different challenges that don’t revolve around watching a husband die.

Tope Awotona, founder of Calendly, started three very different companies for three completely different communities before eventually building the scheduling software business in 2013. In 2020, Calendly posted nearly $70 million in annual recurring revenue, more than double its 2019 figure. But Awotona’s first company was a dating app that never really got off the ground. The second was projectorspot.com, which sold (obviously) projectors, but sales were poor and margins small. He tried again with a third startup, selling grills, but as he says, “I didn’t know anything about grills and I didn’t want to! I lived in an apartment, and never even grilled.” Not only was he not part of the grilling community, but he didn’t even want to be! He took a different approach to building Calendly. He had been a sales rep earlier in his career, and he knew the hassle of sending multiple emails to schedule meetings. He had even run into the scheduling problem while trying to sell his own products as an entrepreneur. As time went on and his other ideas failed to gain traction, he saw a gap in the marketplace and resolved to address it for the community of sales reps he cared about and understood. He says that “the journey to creating something that’s impactful, something that serves people, something that you know people are willing to open up their wallets and pay for—is not something that you can do just for money.” While lots of people have scheduling fatigue, Awotona focused on problems specific to sales reps, which helped him define a problem he could both solve and monetize. What does that mean for you? First, get involved in those communities wherever they are, offline and online. Then, contribute, teach, and, most important, listen. Finally, use the filters above to make sure you are picking the right community to serve. Then, your problem becomes: Which problem should I pick?

This is the world of “peer production,” the extraordinary Internet-enabled phenomenon of mass volunteerism and amateurism. We are at the dawn of an age where most producers in any domain are unpaid, and the main difference between them and their professional counterparts is simply the (shrinking) gap in the resources available to them to extend the ambition of their work. When the tools of production are available to everyone, everyone becomes a producer.

It’s difficult for outsiders to even understand the nature of a contango market. In essence, the price of oil in spot markets, which reflect the price of oil today, tends to be lower than the price of oil to be delivered in the future. This is attributable to a host of complex reasons.I In the relatively rare scenario when oil today is cheaper than oil in the future, the markets are said to be in contango, and it doesn’t tend to last very long. Usually the market reverts to its normal state of cheaper oil in the future. When the market goes into contango, it presents a whole host of ways for Koch’s traders to profit. In late 2008, the potential profits were extraordinary. The size of the contango became enormous—the gap between oil sold today and oil sold for delivery a few months out became roughly $8 a barrel. A more common level of contango would be in the range of $2 or $4 a barrel. And the gap wasn’t just wide, it was long-lasting. The markets remained in contango for several months. Koch Industries, and a handful of other giant oil producers, were able to exploit this gap in a special way. Because Koch Industries traded in both the futures markets and the physical markets, it could execute something called the “contango storage play.” One former senior trader within Koch Supply & Trading called the contango storage play a “bread-and-butter” strategy for Koch’s crude oil department. The mechanics of the contango storage play seem deceptively simple. A trader at Koch Industries buys oil in the spot markets, where it is cheap. Then, the trader sells oil for delivery in the futures markets, where oil is more expensive. When the contango gap is $8, it is easy to picture how quickly the profits pile up. The trader can buy oil for $35 and sell it for $43, almost instantly. There is a catch, however. To execute the contango storage play, the trader must be able to do something that most traders can’t do—they must be able to deliver the actual, physical oil in that future month. If a typical oil speculator—who did not own an oil refinery, storage tanks, or an oil tanker ship—tried to execute the contango storage trade, they could find themselves shut out. Executing the contango storage trade didn’t just require deep knowledge of arcane shipping markets and transportation law; it also required deep relationships in the private world of oil production.

He’s bald, bellowing, and has a belly. He sort of looks like Don Rickles. I could deal with everything but the bald part. I start googling “Is hair hereditary? HAIReditary?” Maybe Baby Gap sells toupees?

Now, there is a way for you to get the best of both worlds, and that’s by using niche topics to answer universal questions. For example, an article titled, “How To Be A Better Writer” answers two of our three questions. You know who this article is going to be for, and you know what it’s going to be about. Unfortunately, the PROMISE is a little weak. What does being a “better writer” really mean? What benefits do you receive by becoming a better writer? Why should someone want to become a “better writer” in the first place? Here is where you have a decision to make. You can either make your PROMISE answer a niche question or a broad question—and depending on which you pick will dramatically change the size of your potential Audience. (It will also change the content of the piece.) For example: “How To Be A Better Writer Today, So You Can Start Writing Best-Selling Books Tomorrow” would be a title with a big PROMISE for aspiring authors. If you have no interest in becoming a best-selling author, you probably won’t want to read this piece of writing. It’s more specific, and will resonate more clearly with your target reader, but it won’t reach as many different types of readers. This is the pro/con. “How To Become A Better Writer, Journal More Often, And Live A More Present Life,” on the other hand, has a completely different PROMISE. The question it’s answering is dramatically bigger (“How can I live a more present life?”). The Curiosity Gap here is saying that by becoming a better writer, and using writing as a habit, you can live a more present life. This technique of tying niche topics to universal questions is a powerful way of tapping into new audiences and expanding your reach outside of your particular industry or category. Here are a few more examples: “The Future Of The Biotechnology Industry” is niche (and vague), and can be expanded by changing it to “How The Future Of Biotechnology Is Going To Make All Of Us Happier, Healthier, And Live Longer.” “The Girl Who Ran Away” is good, but it can be clarified and expanded by changing it to, “The Girl Who Ran Away: Family, Loss, And The Power Of Forgiving Those Who Hurt You Most.” “7 Tips For Becoming Smarter” is clear, but a bigger PROMISE can help it reach more people. “7 Tips For Becoming Smarter, Achieving Chess-Master Memory, And Becoming The Most Interesting Person In The Room” To recap: Bigger Questions attract Bigger Audiences Niche Questions attract Niche Audiences Wider Audiences benefit from simple, universal language Niche Audiences benefit from ultra-specific, niche language Titles that only answer 1 of the 3 questions are weak. Titles that answer 2 of the 3 questions are good. Titles that answer all 3 of the questions are exceptional

Education-based marketing is our No. 1 marketing rule: It wins, time after time, and always will. Focus your attention on adding tremendous value to your network, not on trying to “sell them.” Be 100 percent focused on solving problems for your prospective clients. Lead with the problem, meet your prospect in their hurt, and showcase your solutions to bridge the gap between where they are today and where they want to be tomorrow.

Seeing what your Dream 100 is promising and trying to sell to your dream customers, what hooks they are putting out, what offers they are making, and what beliefs your market has, will become the best market research you could ever do to figure out what the gaps are in the market and what offers you need to create.

Of all the twenty-eight EU states, Britain is by far the hardest hit by the Common Commercial Policy. Twenty-six of the other twenty-seven members sell the majority of their exports to the rest of the EU. Britain and Greece are the only two EU nations that trade more overseas than in Europe and, in Britain’s case, the gap is starting to widen seriously.

Watching the traders buy big blocks of shares, Bamberger observed that prices often moved higher, as might be expected. Prices headed lower when Morgan Stanley’s traders sold blocks of shares. Each time, the trading activity altered the gap, or spread, between the stock in question and the other company in the pair, even when there was no news in the market. An order to sell a chunk of Coke shares, for instance, might send that stock down a percentage point or even two, even as Pepsi barely moved. Once the effect of their Coke stock selling wore off, the spread between the shares reverted to the norm,

a human app store could theoretically materialize where brands could build implants that give people new skills – such as additional memory, more acute hearing or even a higher willingness to exercise or eat the right foods. Could tech companies sell you more short-term memory, much like they do with cloud space today? Or could Skype create a translation prosthetic that automatically deciphers different languages? The company has already built a tool (Skype

Despite all the chaos, and the inefficiency of manufacturing and shipping in small batches, Zara’s gross margins continue to exceed those of its competitors H&M (55 percent) and Gap (29 percent). That’s because all that inefficiency incurred in the pursuit of speed allows Zara to avoid one of the biggest drags on gross margin for almost any apparel company—overstock of designs that failed to sell. Ortega devised this model when he was sixteen years old—don’t order inventory and hope it sells; instead, figure out what people want, and then make it.

This is going to be a very bad film. It will teach you nothing. You’ll wonder at the end where those few minutes of your life have gone. You’ll feel bitter, resentful and increasingly furious. Now, that’s a tiny example of what pessimism can do for you. It prepares you for the worst, reduces the tension of expectations, protects you from disappointment and might even make you laugh a bit. It should be a recipe for life. We live in an absurdly and painfully optimistic world. Mostly that’s the result of all the business out there trying to sell us things. And understandably, using cheerfulness to do it. And partly, it’s influence of technology, which is always getting better, colouring our view of life as a whole, which often isn’t improving. In the process we’ve lost sight of the wisdom of seeing the glass half empty. For centuries religions peddled dark messages. Buddhism told its followers that life was suffering. Christianity spoke of the fallen state of mankind and of the inevitability of earthly imperfection. It was helpful: it kept our expectations in check. The psychologist, William James, came up with an equation: Happiness equals expectations over reality. So, there are two ways to ensure contentment. Change reality or change expectations. Pessimists know to reduce the expectations. Good pessimists rehearse some key lessons to themselves every day. Life generally goes wrong. Everyone is worried and sad most of the time. It’s normal to have big regrets around careers. The only people we can think of as „normal” are people we don’t yet know very well. It’s hard to be happy for more than 15 minutes. Almost all your hopes are going to be dashed. Mediocrity is the norm. Today, however grim, will probably be one of those days you end up looking back on and wondering why you didn’t appreciate more fully. That’s how much worse it will eventually get. Don’t think of us pessimists as grim; the gap between what should be and what is can be filled with laughter, a generous laughter, but one of certainty that today will go wrong, tomorrow will probably be even worse, until the worst of all happens. But that’s ok.

But bridging the gap isn’t as simple as coming down or coming up in price. You have to play to the fears. Remember how we discussed having Walls? And the Wall being our motivation to succeed? Buyers and sellers have the same thing. The seller’s biggest wall is a future in which they have Not Sold. The buyer’s biggest wall is a future in which they have Not Bought. Seems simple, right? I play to those fears in every negotiation. With my seller on 12th Street, I reminded him that the risk of not countering was going on the market and not selling at all.

Yes! I reminded my buyer this was an off-market deal. She was getting in early, and P.S. her daughter had been searching for an apartment for four years! Wouldn’t she like to see her happily settled? She agreed to come up $250,000 for “a quick sale.” Just like that, the million-mile distance was slashed in half. I know I’m talking about big numbers here, but what you should understand is that I’m making the gap relative. Whether you’re trying to close a million-dollar gap or a $10 one, break it down. I basically asked each side to come up, relatively speaking, $2.50. That doesn’t sound nearly as bad as bridging a million-dollar gap, now does it?

increasing your buyers’ customer base, augmenting their revenue, streamlining their processes, or making their life or work more productive and enjoyable.

But if her brother were now to be imprisoned for years, she herself, being the eldest, would have to find a way of providing for the family. Living was hard even with her brother working so diligently. Though they ate only the bare minimum, they could not even keep up with rent payments, and debts kept piling up. In autumn when various grains ripened, prices fell, and just when tenant farmers absolutely had to sell, they hit rock bottom. Then it would be winter, and by the time spring came, prices always began to rise. That was the time when landowners and urban wholesale merchants who had taken and stored the tenant farmers’ grain would begin to sell. People like Okei stood no chance at all. To make up for the “gap,” they took up day labor, piled up gravel, cut timber, and dug irrigation ditches. Now her brother would be gone. Okei felt she could see what kind of life lay ahead of her. The Yamagami girl’s cries now pierced Okei’s body like shards of broken glass, one by one. “You got your money, you had your fun—what in the world are you still bawling about?!” Okei heard the words but could not bear to listen to them. Agitated, she stood up and then promptly sat down. In a short while, her mother returned.