Learn From Your Competitors Quotes

The crucial part of running any kind of successful business is to keep an eye on your competitors, watch what they’re doing right and what they’re doing wrong.

Learning about any kind of changes on time gives you a head start over your competitors which helps you not just in surviving the changes but also emerging as a leader in the end.

Market research gives you enough time to learn from your competitors’ mistakes, take inspiration from their strengths, and exploit their weaknesses.

So you got rid of your astonishment that someone could write so much more dynamically than you. You stopped cherishing your aloneness and poetic differentness to your delicately flat little bosom. You said: she's to good to forget. How about making her a friend and competitor — you could learn alot from her. So you'll try. So maybe she'll laugh in your face. So maybe she'll beat you hollow in the end. So anyhow, you'll try, and maybe, possibly, she can stand you. Here's hoping!

Big business learned that if you stopped fighting big government, you could profit from it by killing your smaller competitors.

The ability to learn faster than your competitors may be the only sustainable competitive advantage.

Who really is your best competitor? More importantly, what are they doing strategically and operationally that is better than you? Where and how do they outperform you? What could you learn from them and do differently?” Looking at the best competitor, no matter which company it might be, provides helpful insights into the multiple ways to win.

Selling ice cream on the beach in the summer is easy. Raising people’s expectations, engaging in their hopes and dreams, helping them see further—that’s the difficult work we signed up for. From now on, your customers know more than you do about your competitors. And so your commodity work, no matter how much effort you put into it, is not enough.

What happened? Many things. But the overriding problem was this: The auto industry got too comfortable. As Intel cofounder Andy Grove once famously proclaimed, “Only the paranoid survive.” Success, he meant, is fragile—and perfection, fleeting. The moment you begin to take success for granted is the moment a competitor lunges for your jugular. Auto industry executives, to say the least, were not paranoid. Instead of listening to a customer base that wanted smaller, more fuel-efficient cars, the auto executives built bigger and bigger. Instead of taking seriously new competition from Japan, they staunchly insisted (both to themselves and to their customers) that MADE IN THE USA automatically meant “best in the world.” Instead of trying to learn from their competitors’ new methods of “lean manufacturing,” they clung stubbornly to their decades-old practices. Instead of rewarding the best people in the organization and firing the worst, they promoted on the basis of longevity and nepotism. Instead of moving quickly to keep up with the changing market, executives willingly embraced “death by committee.” Ross Perot once quipped that if a man saw a snake on the factory floor at GM, they’d form a committee to analyze whether they should kill it. Easy success had transformed the American auto

To make good choices, you need to make sense of the complexity of your environment. The strategy logic flow can point you to the key areas of analysis necessary to generate sustainable competitive advantage. First, look to understand the industry in which you play (or will play), its distinct segments and their relative attractiveness. Without this step, it is all too easy to assume that your map of the world is the only possible map, that the world is unchanging, and that no better possibilities exist. Next, turn to customers. What do channel and end consumers truly want, need, and value-and how do those needs fit with your current or potential offerings? To answer this question, you will have to dig deep-engaging in joint value creation with channel partners and seeking a new understanding of end consumers. After customers, the lens turns inward: what are your capabilities and costs relative to the competition? Can you be a differentiator or a cost leader? If not, you will need to rethink your choices. Finally, consider competition; what will your competitors do in the face of your actions? Throughout the thinking process, be open to recasting previous analyses in light of what you learn in a subsequent box. The basic direction of the process is from left to right, but it also has interdependencies that require a more flexible path through it.

Specialisation, accompanied by exchange, is the source of economic prosperity. Here, in my own words, is what a modern version of Smithism claims. First, the spontaneous and voluntary exchange of goods and services leads to a division of labour in which people specialise in what they are good at doing. Second, this in turn leads to gains from trade for each party to a transaction, because everybody is doing what he is most productive at and has the chance to learn, practise and even mechanise his chosen task. Individuals can thus use and improve their own tacit and local knowledge in a way that no expert or ruler could. Third, gains from trade encourage more specialisation, which encourages more trade, in a virtuous circle. The greater the specialisation among producers, the greater is the diversification of consumption: in moving away from self-sufficiency people get to produce fewer things, but to consume more. Fourth, specialisation inevitably incentivises innovation, which is also a collaborative process driven by the exchange and combination of ideas. Indeed, most innovation comes about through the recombination of existing ideas for how to make or organise things. The more people trade and the more they divide labour, the more they are working for each other. The more they work for each other, the higher their living standards. The consequence of the division of labour is an immense web of cooperation among strangers: it turns potential enemies into honorary friends. A woollen coat, worn by a day labourer, was (said Smith) ‘the produce of a great multitude of workmen. The shepherd, the sorter of the wool, the wool-comber or carder, the dyer, the scribbler, the spinner, the weaver, the fuller, the dresser . . .’ In parting with money to buy a coat, the labourer was not reducing his wealth. Gains from trade are mutual; if they were not, people would not voluntarily engage in trade. The more open and free the market, the less opportunity there is for exploitation and predation, because the easier it is for consumers to boycott the predators and for competitors to whittle away their excess profits. In its ideal form, therefore, the free market is a device for creating networks of collaboration among people to raise each other’s living standards, a device for coordinating production and a device for communicating information about needs through the price mechanism. Also a device for encouraging innovation. It is the very opposite of the rampant and selfish individualism that so many churchmen and others seem to think it is. The market is a system of mass cooperation. You compete with rival producers, sure, but you cooperate with your customers, your suppliers and your colleagues. Commerce both needs and breeds trust.

THE 12 COMMANDMENTS OF BOSSES’ DIRTY WORK How to Implement Tough Decisions in Effective and Humane Ways Do not delay painful decisions and actions; hoping the problem will go away or that someone else will do your dirty work rarely is an effective path. Assume that you are clueless, or at least have only a dim understanding, of how people judge you and the dirty work that you do. Implement tough decisions as well as you can – even if they strike you as wrong or misguided. Or get out of the way and let someone else do it. Do everything possible to communicate to all who will be affected how distressing events will unfold, so they can predict when bad things will (and will not) happen to them. Explain early and often why the dirty work is necessary. Look for ways to give employees influence over how painful changes happen to them, even when it is impossible to change what will happen to them. Never humiliate, belittle, or bad-mouth people who are the targets of your dirty work. Ask yourself and fellow bosses to seriously consider if the dirty work is really necessary before implementing it. Just because all your competitors do it, or you have always done it in the past, does not mean it is wise right now. Do not bullshit or lie to employees, as doing so can destroy their loyalty and confidence, along with your reputation. Keep your big mouth shut. Divulging sensitive or confidential information can harm employees, your organization, and you, too. Refrain from doing mean-spirited things to exact personal revenge against employees who resist or object to your dirty work. Do not attempt dirty work if you lack the power to do it right, no matter how necessary it may seem.

The twentieth-century mystic Thomas Merton wrote, “There can be an intense egoism in following everybody else. People are in a hurry to magnify themselves by imitating what is popular—and too lazy to think of anything better. Hurry ruins saints as well as artists. They want quick success, and they are in such a haste to get it that they cannot take time to be true to themselves. And when the madness is upon them, they argue that their very haste is a species of integrity.”20 Merton elegantly articulates how the pressure of the create-on-demand world can cause us to look sideways at our peers and competitors instead of looking ahead. The process of discovering and refining your voice takes time. Unnecessary Creation grants you the space to discover your unique aptitudes and passions through a process of trial, error, and play that won’t often be afforded to you otherwise. Initiating a project with no parameters and no expectations from others also forces you to stay self-aware while learning to listen to and follow your intuition. Both of these are crucial skills for discovering your voice. It’s completely understandable if you’re thinking, “But wait—I hardly have time to breathe, and now you want me to cram something else into my schedule, just for my own enjoyment?” It’s true that every decision about where we spend our time has an opportunity cost, and dedicating time to Unnecessary Creation seems like a remarkably inefficient choice. In truth, it is inefficient. Consider, however, the opportunity cost of spending your life only on pragmatics. You dedicate your time to pleasing everyone else and delivering on their expectations, but you never get around to discovering your deeper aptitudes and creative capacities. Nothing is worth that.

a young Goldman Sachs banker named Joseph Park was sitting in his apartment, frustrated at the effort required to get access to entertainment. Why should he trek all the way to Blockbuster to rent a movie? He should just be able to open a website, pick out a movie, and have it delivered to his door. Despite raising around $250 million, Kozmo, the company Park founded, went bankrupt in 2001. His biggest mistake was making a brash promise for one-hour delivery of virtually anything, and investing in building national operations to support growth that never happened. One study of over three thousand startups indicates that roughly three out of every four fail because of premature scaling—making investments that the market isn’t yet ready to support. Had Park proceeded more slowly, he might have noticed that with the current technology available, one-hour delivery was an impractical and low-margin business. There was, however, a tremendous demand for online movie rentals. Netflix was just then getting off the ground, and Kozmo might have been able to compete in the area of mail-order rentals and then online movie streaming. Later, he might have been able to capitalize on technological changes that made it possible for Instacart to build a logistics operation that made one-hour grocery delivery scalable and profitable. Since the market is more defined when settlers enter, they can focus on providing superior quality instead of deliberating about what to offer in the first place. “Wouldn’t you rather be second or third and see how the guy in first did, and then . . . improve it?” Malcolm Gladwell asked in an interview. “When ideas get really complicated, and when the world gets complicated, it’s foolish to think the person who’s first can work it all out,” Gladwell remarked. “Most good things, it takes a long time to figure them out.”* Second, there’s reason to believe that the kinds of people who choose to be late movers may be better suited to succeed. Risk seekers are drawn to being first, and they’re prone to making impulsive decisions. Meanwhile, more risk-averse entrepreneurs watch from the sidelines, waiting for the right opportunity and balancing their risk portfolios before entering. In a study of software startups, strategy researchers Elizabeth Pontikes and William Barnett find that when entrepreneurs rush to follow the crowd into hyped markets, their startups are less likely to survive and grow. When entrepreneurs wait for the market to cool down, they have higher odds of success: “Nonconformists . . . that buck the trend are most likely to stay in the market, receive funding, and ultimately go public.” Third, along with being less recklessly ambitious, settlers can improve upon competitors’ technology to make products better. When you’re the first to market, you have to make all the mistakes yourself. Meanwhile, settlers can watch and learn from your errors. “Moving first is a tactic, not a goal,” Peter Thiel writes in Zero to One; “being the first mover doesn’t do you any good if someone else comes along and unseats you.” Fourth, whereas pioneers tend to get stuck in their early offerings, settlers can observe market changes and shifting consumer tastes and adjust accordingly. In a study of the U.S. automobile industry over nearly a century, pioneers had lower survival rates because they struggled to establish legitimacy, developed routines that didn’t fit the market, and became obsolete as consumer needs clarified. Settlers also have the luxury of waiting for the market to be ready. When Warby Parker launched, e-commerce companies had been thriving for more than a decade, though other companies had tried selling glasses online with little success. “There’s no way it would have worked before,” Neil Blumenthal tells me. “We had to wait for Amazon, Zappos, and Blue Nile to get people comfortable buying products they typically wouldn’t order online.

How Google Works (Schmidt, Eric) - Your Highlight on Location 3124-3150 | Added on Sunday, April 5, 2015 10:35:40 AM In late 1999, John Doerr gave a presentation at Google that changed the company, because it created a simple tool that let the founders institutionalize their “think big” ethos. John sat on our board, and his firm, Kleiner Perkins, had recently invested in the company. The topic was a form of management by objectives called OKRs (to which we referred in the previous chapter), which John had learned from former Intel CEO Andy Grove.173 There are several characteristics that set OKRs apart from their typical underpromise-and-overdeliver corporate-objective brethren. First, a good OKR marries the big-picture objective with a highly measurable key result. It’s easy to set some amorphous strategic goal (make usability better … improve team morale … get in better shape) as an objective and then, at quarter end, declare victory. But when the strategic goal is measured against a concrete goal (increase usage of features by X percent … raise employee satisfaction scores by Y percent … run a half marathon in under two hours), then things get interesting. For example, one of our platform team’s recent OKRs was to have “new WW systems serving significant traffic for XX large services with latency < YY microseconds @ ZZ% on Jupiter.”174 (Jupiter is a code name, not the location of Google’s newest data center.) There is no ambiguity with this OKR; it is very easy to measure whether or not it is accomplished. Other OKRs will call for rolling out a product across a specific number of countries, or set objectives for usage (e.g., one of the Google+ team’s recent OKRs was about the daily number of messages users would post in hangouts) or performance (e.g., median watch latency on YouTube videos). Second—and here is where thinking big comes in—a good OKR should be a stretch to achieve, and hitting 100 percent on all OKRs should be practically unattainable. If your OKRs are all green, you aren’t setting them high enough. The best OKRs are aggressive, but realistic. Under this strange arithmetic, a score of 70 percent on a well-constructed OKR is often better than 100 percent on a lesser one. Third, most everyone does them. Remember, you need everyone thinking in your venture, regardless of their position. Fourth, they are scored, but this scoring isn’t used for anything and isn’t even tracked. This lets people judge their performance honestly. Fifth, OKRs are not comprehensive; they are reserved for areas that need special focus and objectives that won’t be reached without some extra oomph. Business-as-usual stuff doesn’t need OKRs. As your venture grows, the most important OKRs shift from individuals to teams. In a small company, an individual can achieve incredible things on her own, but as the company grows it becomes harder to accomplish stretch goals without teammates. This doesn’t mean that individuals should stop doing OKRs, but rather that team OKRs become the more important means to maintain focus on the big tasks. And there’s one final benefit of an OKR-driven culture: It helps keep people from chasing competitors. Competitors are everywhere in the Internet Century, and chasing them (as we noted earlier) is the fastest path to mediocrity. If employees are focused on a well-conceived set of OKRs, then this isn’t a problem. They know where they need to go and don’t have time to worry about the competition. ==========

MT: Mimetic desire can only produce evil? RG: No, it can become bad if it stirs up rivalries but it isn't bad in itself, in fact it's very good, and, fortunately, people can no more give it up than they can give up food or sleep. It is to imitation that we owe not only our traditions, without which we would be helpless, but also, paradoxically, all the innovations about which so much is made today. Modern technology and science show this admirably. Study the history of the world economy and you'll see that since the nineteenth century all the countries that, at a given moment, seemed destined never to play anything but a subordinate role, for lack of “creativity,” because of their imitative or, as Montaigne would have said, their “apish” nature, always turned out later on to be more creative than their models. It began with Germany, which, in the nineteenth century, was thought to be at most capable of imitating the English, and this at the precise moment it surpassed them. It continued with the Americans in whom, for a long time, the Europeans saw mediocre gadget-makers who weren't theoretical or cerebral enough to take on a world leadership role. And it happened once more with the Japanese who, after World War II, were still seen as pathetic imitators of Western superiority. It's starting up again, it seems, with Korea, and soon, perhaps, it'll be the Chinese. All of these consecutive mistakes about the creative potential of imitation cannot be due to chance. To make an effective imitator, you have to openly admire the model you're imitating, you have to acknowledge your imitation. You have to explicitly recognize the superiority of those who succeed better than you and set about learning from them. If a businessman sees his competitor making money while he's losing money, he doesn't have time to reinvent his whole production process. He imitates his more fortunate rivals. In business, imitation remains possible today because mimetic vanity is less involved than in the arts, in literature, and in philosophy. In the most spiritual domains, the modern world rejects imitation in favor of originality at all costs. You should never say what others are saying, never paint what others are painting, never think what others are thinking, and so on. Since this is absolutely impossible, there soon emerges a negative imitation that sterilizes everything. Mimetic rivalry cannot flare up without becoming destructive in a great many ways. We can see it today in the so-called soft sciences (which fully deserve the name). More and more often they're obliged to turn their coats inside out and, with great fanfare, announce some new “epistemological rupture” that is supposed to revolutionize the field from top to bottom. This rage for originality has produced a few rare masterpieces and quite a few rather bizarre things in the style of Jacques Lacan's Écrits. Just a few years ago the mimetic escalation had become so insane that it drove everyone to make himself more incomprehensible than his peers. In American universities the imitation of those models has since produced some pretty comical results. But today that lemon has been squeezed completely dry. The principle of originality at all costs leads to paralysis. The more we celebrate “creative and enriching” innovations, the fewer of them there are. So-called postmodernism is even more sterile than modernism, and, as its name suggests, also totally dependent on it. For two thousand years the arts have been imitative, and it's only in the nineteenth and twentieth centuries that people started refusing to be mimetic. Why? Because we're more mimetic than ever. Rivalry plays a role such that we strive vainly to exorcise imitation. MT

Look around your competitors and learn from them. Look within for your talents and exploit them. Look back at your failures and learn from them. Look forward to your successes and reach for them.

The entrepreneurs who stuck with Silicon Valley learned four big lessons from the dot-com crash that still guide business thinking today: 1. Make incremental advances Grand visions inflated the bubble, so they should not be indulged. Anyone who claims to be able to do something great is suspect, and anyone who wants to change the world should be more humble. Small, incremental steps are the only safe path forward. 2. Stay lean and flexible All companies must be “lean,” which is code for “unplanned.” You should not know what your business will do; planning is arrogant and inflexible. Instead you should try things out, “iterate,” and treat entrepreneurship as agnostic experimentation. 3. Improve on the competition Don’t try to create a new market prematurely. The only way to know you have a real business is to start with an already existing customer, so you should build your company by improving on recognizable products already offered by successful competitors. 4. Focus on product, not sales If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution. Bubble-era advertising was obviously wasteful, so the only sustainable growth is viral growth.

The entrepreneurs who stuck with Silicon Valley learned four big lessons from the dot-com crash that still guide business thinking today: 1. Make incremental advances Grand visions inflated the bubble, so they should not be indulged. Anyone who claims to be able to do something great is suspect, and anyone who wants to change the world should be more humble. Small, incremental steps are the only safe path forward. 2. Stay lean and flexible All companies must be “lean,” which is code for “unplanned.” You should not know what your business will do; planning is arrogant and inflexible. Instead you should try things out, “iterate,” and treat entrepreneurship as agnostic experimentation. 3. Improve on the competition Don’t try to create a new market prematurely. The only way to know you have a real business is to start with an already existing customer, so you should build your company by improving on recognizable products already offered by successful competitors. 4. Focus on product, not sales If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution. Bubble-era advertising was obviously wasteful, so the only sustainable growth is viral growth. These lessons have become dogma in the startup world; those who would ignore them are presumed to invite the justified doom visited upon technology in the great crash of 2000. And yet the opposite principles are probably more correct: 1. It is better to risk boldness than triviality. 2. A bad plan is better than no plan. 3. Competitive markets destroy profits. 4. Sales matters just as much as product.

Legal risks may be daunting, but you may be surprised to learn that the most common objection I have heard over the years to building an MVP is fear of competitors—especially large established companies—stealing a startup’s ideas. If only it were so easy to have a good idea stolen! Part of the special challenge of being a startup is the near impossibility of having your idea, company, or product be noticed by anyone, let alone a competitor. In fact, I have often given entrepreneurs fearful of this issue the following assignment: take one of your ideas (one of your lesser insights, perhaps), find the name of the relevant product manager at an established company who has responsibility for that area, and try to get that company to steal your idea. Call them up, write them a memo, send them a press release—go ahead, try it. The truth is that most managers in most companies are already overwhelmed with good ideas. Their challenge lies in prioritization and execution, and it is those challenges that give a startup hope of surviving.10 If a competitor can outexecute a startup once the idea is known, the startup is doomed anyway. The reason to build a new team to pursue an idea is that you believe you can accelerate through the Build-Measure-Learn feedback loop faster than anyone else can. If that’s true, it makes no difference what the competition knows. If it’s not true, a startup has much bigger problems, and secrecy won’t fix them. Sooner or later, a successful startup will face competition from fast followers. A head start is rarely large enough to matter, and time spent in stealth mode—away from customers—is unlikely to provide a head start. The only way to win is to learn faster than anyone else. Many startups plan to invest

Technological advancements will eventually make older business models obsolete. You can either bemoan that and try with all your might to protect the status quo, or you can work hard to understand and embrace it with more enthusiasm and creativity than your competitors.

Finding the Competitive Levers When there’s a battle between two networks, there are competitive levers that shift users from one into the other—what are they? The best place to focus in the rideshare market was the hard side of the network: drivers. More drivers meant that prices would be lower, attracting valuable high-frequency riders that often comparison shop for fares. Attract more riders, and it more efficiently fills the time of drivers, and vice versa. There was a double benefit to moving drivers from a competitor’s network to yours—it would push their network into surging prices while yours would lower in price. Uber’s competitive levers would combine financial incentives—paying up for more sign-ups, more hours—with product improvements to improve Acquisition, Engagement, and Economic forces. Drawing in more drivers through product improvements is straightforward—the better the experience of picking up riders and routing the car to their destination, the more the app would be used. Building a better product is one of the classic levers in the tech industry, but Uber focused much of its effort on targeted bonuses for drivers. Why bonuses? Because for drivers, that was their primary motivation for using the app, and improving their earnings would make them sticky. But these bonuses weren’t just any bonuses—they were targeted at quickly flipping over the most valuable drivers in the networks of Uber’s rivals, targeting so-called dual apping drivers that were active on multiple networks. They were given large, special bonuses that compelled them to stick to Uber, and every hour they drove was an hour that the other networks couldn’t utilize. There was a sophisticated effort to tag drivers as dual appers. Some of these efforts were just manual—Uber employees who took trips would just ask if the drivers drove for other services, and they could mark them manually in a special UI within the app. There were also behavioral signals when drivers were running two apps—they would often pause their Uber session for a few minutes while they drove for another company, then unpause it. On Android, there were direct APIs that could tell if someone was running Uber and Lyft at the same time. Eventually a large number of these signals were fed into a machine learning model where each driver would receive a score based on how likely they were to be a dual apper. It didn’t have to be perfect, just good enough to aid the targeting.

Mobile phone apps – 2012 Before building a QuickBooks app, I decided to try iPhone and Android apps. This my first experience entering an app store. Unfortunately, the apps failed for many reasons: User base too small: There are millions of mobile phone users, but that does not translate to millions of users for your software. There is a subsection of a user base that matters most. Too many competitors: The app stores were oversaturated. There were over a million apps, literally. There was no way to stand out from the rest. My apps became me-too apps. The Intuit app stores were just getting started at the time and there were far fewer apps. Difficult to gain entry: I tried game development, and good games are expensive to produce. You need a soundtrack and graphic designers. The cost of making an exceptional game is outrageous. There was no way I could afford it. Failed to show value: Since most apps were free, users refused to pay me. I tried in-app purchases, but most users were uninterested. I learned that businesses were a better target because I could show them how to save time. Failed to solve a problem: In my eyes, app stores were the only way to advertise my game. I failed to tap into my potential user base. Businesses have a clear data entry problem that I can fix, but consumers were too difficult to sell to. Technical issues: I submitted one app to the Windows Marketplace, and it failed 15 times. I had to wait for Apple to publish updates to my app weekly. I learned that my next plugin must receive updates in a few hours, instead of a few days. Users simply cannot wait this long for an issue to get fixed. This was the most important lesson that I learned, and it inspired me to make a cloud-based system. Different devices:

In 2015, scientists from the Center for Space Medicine and Extreme Environments in Berlin followed athletes competing in the Yukon Arctic Ultra. They wanted to know: How does the human body cope in such a brutal context? When the researchers analyzed the hormones in the bloodstreams of the athletes, one hormone, irisin, was wildly elevated. Irisin is best known for its role in metabolism—it helps the body burn fat as fuel. But irisin also has powerful effects on the brain. Irisin stimulates the brain’s reward system, and the hormone may be a natural antidepressant. Lower levels are associated with an increased risk of depression, and elevated levels can boost motivation and enhance learning. Injecting the protein directly into the brains of mice—not something scientists are ready to try with humans—reduces behaviors associated with depression, including learned helplessness and immobility in the face of threats. Higher blood levels of irisin are also associated with superior cognitive functioning, and may even prevent neurodegenerative diseases such as Alzheimer’s. The Yukon Arctic Ultra athletes entered the event with extraordinarily high blood levels of this hormone, far beyond levels seen in most humans. Over the course of the event, their irisin levels climbed higher. Even as their bodies fell victim to hypothermia and exhaustion, the athletes were bathing their brains in a chemical that preserves brain health and prevents depression. Why were their blood levels of irisin so elevated? The answer lies in both the nature of the event and what the athletes had to do to get there. Irisin has been dubbed the “exercise hormone,” and it is the best-known example of a myokine, a protein that is manufactured in your muscles and released into your bloodstream during physical activity. (Myo means muscle, and kine means “set into motion by.”) One of the greatest recent scientific breakthroughs in human biology is the realization that skeletal muscles act as an endocrine organ. Your muscles, like your adrenal and pituitary glands, secrete proteins that affect every system of your body. One of these proteins is irisin. Following a single treadmill workout, blood levels of irisin increase by 35 percent. The Yukon Arctic Ultra required up to fifteen hours a day of exercise. Muscle shivering—a form of muscle contraction—also triggers the release of irisin into the bloodstream. For the Yukon Arctic Ultra competitors, the combination of extreme environment and extreme exertion led to exceptionally high levels of this myokine.

Amazon Leadership Principles “We use our Leadership Principles every day, whether we’re discussing ideas for new projects or deciding on the best approach to solving a problem. It is just one of the things that makes Amazon peculiar [a word used by Bezos and most Amazonians].”30 Customer Obsession: Leaders start with the customer and work backwards. They work vigorously to earn and keep customer trust. Although leaders pay attention to competitors, they obsess over customers. Ownership: Leaders are owners. They think long term and don’t sacrifice long-term value for short-term results. They act on behalf of the entire company, beyond just their own team. They never say “that’s not my job.” Invent and Simplify: Leaders expect and require innovation and invention from their teams and always find ways to simplify. They are externally aware, look for new ideas from everywhere, and are not limited by “not invented here.” As we do new things, we accept that we may be misunderstood for long periods of time. Are Right, A Lot: Leaders are right a lot. They have strong judgment and good instincts. They seek diverse perspectives and work to disconfirm their beliefs. Learn and Be Curious: Leaders are never done learning and always seek to improve themselves. They are curious about new possibilities and act to explore them.

I still want the normal guy to be able to purchase our equipment. It shouldn’t be a $1,000 bar no one can afford. You should be able to buy it for your garage and have it last forever,” Henniger says. He lines up a series of what he calls “bad bars”—ranging from $200 to $1,200—alongside Rogue’s standard $290 barbell, and points out every flaw or evidence of sloppy construction in his competitors’ products. “If you put our bar against a $1,000 bar, our specs are as high as a $1,200 bar. It debunks the myth that you need to charge $1,200. I want a lot of people to have them.

Here’s the trick to significantly improving your SaaS email marketing skills—you have to become a student of it. This means you should: Start collecting great email copy, CTAs, and designs. Understand the objective behind each and every email that businesses send. Try to understand the rationale behind copy, link, and design decisions. There are great websites like Really Good Emails11, Good Email Copy12, and Good Sales Emails.com13 that you can use for your research. These sites categorize email copy and designs by types. As well as this, you should sign up to receive emails from some of the leading SaaS brands. Those include, among others: Drift MailChimp Pipedrive Shopify SurveyMonkey Trello Wistia Zapier You should also sign up to competing products and mailing lists from companies in your sector. I personally signed up to thousands of products and newsletters. It’s great for benchmarking and research. At the time of writing, I’ve already passively collected more than 60,000 emails. Obviously, don’t sign up to your competitors’ products with a business email address! I have a special email address I use for this. This account allows me to get data, understand what other organizations are doing, and find good copy ideas. For example, here’s what a search for ‘Typeform’ gives me: Figure 18.1 – Inbox Inspiration It’s not uncommon for me to sign up several times to the same product or newsletter. This allows me to see what they have learned and to track the evolution of their email marketing program. At LANDR, we created a shared document to keep track of subject lines, offers, and copy we wanted to test. Our copywriter was even going through his junk mail folder to find ideas and inspiration. There are tests we ran that were inspired by copy found in his spam folder. Some of them turned out to be really successful too—so keep your eyes open for inspiration. You can use Evernote, Paper, or any other platform to collaborate on idea generation. Alternatively, you can subscribe to paid services like Mailcharts14 or Mailody15. These services will help you track and understand your competitors’ email programs. Build processes to find and access copy and design ideas. It will help you create better emails, faster. In the next chapter we’ll get started creating our first email sequences.

When I was a certified small business and startup mentor for several Non-Profit Organizations (NPOs), after several months I came to realize that most business owners saw websites as "one and done" items rather than as company portals through which valuable and important processes could go through -while concurrently promoting their business online 24/7 through multiple online channels. Set your goals higher and ask yourself "how can we automate what takes up so much of our time and energy" and "how can we learn from and mirror the strategies of larger, more profitable competitors?

Think of each employee as an individual scout picking up data from the outside world—from articles, books, and classes, but most important, from other friends inside and outside the industry. Each employee can receive and decipher intelligence from the outside world that helps the company adapt. For example, what’s a competitor doing? What are key tech trends? It’s the manager’s job to recognize and encourage the power of each of these scouts. A more networked workforce generates more valuable intelligence, and when your employees share what they learn from their networks back into your company, they help solve its key business challenges

You should learn from your competitor, but never copy. Copy and you die.

Jack was quoted, “You should learn from your competitor, but never copy. Copy and you die.

If there’s one thing I’ve learned from working with all these large manufacturing companies, it’s that this shift can truly drive growth. What happened to the technology sector is going to happen to the manufacturing sector—I’m sure of it. Why? Because IoT allows you to rediscover your customers. It lets you learn what they really want. In fact, I would argue that the only true competitive advantage is your relationship with and knowledge of your customers. Think about it—what’s the first thing your competitor does when you put out a new product? It buys that product on the open market and sends it to the R&D lab, which then proceeds to dismantle it, benchmark it, and reverse-engineer it in a thousand different ways. Your competitors can’t do that with the collective intelligence of your customer base. That’s something that you, and only you, can own. It’s an incredibly powerful advantage.

When you have “failed better” enough times, you will surely succeed because you have dialectically honed you skills to the level where you are vastly superior to your competitors. Knowing how to “fail better” is one of the greatest challenges and opportunities in life. As you learn the mistakes of each failure, your knowledge, resilience and talent grow enormously. Eventually you stand transformed, ready to be an astonishing success, tested in the fire, prepared to rise up from the ashes of defeat, to follow the wondrous Phoenix to the highest peaks.

Everyone’s job has different requirements, but the three main folders I use should fit many types of work. Current projects, with a subfolder for each project. (You should try to keep these to no more than ten. After all, how many of us are simultaneously working on more than ten projects? If you are, you’ll learn in the next chapter how to tidy your time.) Records, which contain policies and procedures you regularly access. Usually, these files are provided by others and you typically don’t modify them. Examples include legal contracts and employee files. Saved work, which consists of documents from past projects that you’ll use in the future. Examples include files that can help you with new projects, like a presentation from a previous client that can be a good template for a future one. Other types of saved work can include research you’ve done that could be helpful later, such as benchmarking of competitors or industry research. You may also want to save some projects to have a portfolio to show to prospective clients or new employees for training purposes. If you keep personal files in the same space, add a “Personal” folder so you don’t intermingle personal and work files. Keep digital documents organized. Staying organized is much easier once you have a small set of intuitive, primary folders. If you decide to keep a new file, put it in the most appropriate folder. Otherwise, delete it. The usefulness of your folders will improve as you consistently place similar files in the same place and keep only what you need. When projects are done, decide whether they warrant being moved to your “Saved Work” folder or if you can discard them. There’s no need to store records such as company policies if they’re accessible in other places or won’t be needed again.

One thing I have learned as a competitor is that there are clear distinctions between what it takes to be decent, what it takes to be good, what it takes to be great, and what it takes to be among the best. If your goal is to be mediocre, then you have a considerable margin for error. You can get depressed when fired and mope around waiting for someone to call with a new job offer. If you hurt your toe, you can take six weeks watching television and eating potato chips. In line with that mind-set, most people think of injuries as setbacks, something they have to recover from or deal with. From the outside, for fans or spectators, an injured athlete is in purgatory, hovering in an impotent state between competing and sitting on the bench. In my martial arts life, every time I tweak my body, well-intended people like my mother suggest I take a few weeks off training. What they don’t realize is that if I were to stop training whenever something hurt, I would spend my whole year on the couch. Almost without exception, I am back on the mats the next day, figuring out how to use my new situation to heighten elements of my game. If I want to be the best, I have to take risks others would avoid, always optimizing the learning potential of the moment and turning adversity to my advantage. That

At a national level this particularly so when those others seem to have something stronger or better than Japan does. It adopted, adapted and frequently improved, making the strengths of a potential competitor or foe intro own strengths. This is not just a case of "know your enemy": it is a case of knowing what makes thy enemy a threat and then using his own strengths against him. More than a 1000 years ago Japan learned much from China, to the point where it was no longer a vassal nation but considered itself a superior one. It repeated the process some extent in the Tokugawa period, learning the use of firearms from the west. In the Meiji period iit furiously studied western imperial powers till it became one itself. After the war it learned much from America - admittedly with little choice to start with - but went beyond its compulsory lessons to the point where it reversed roles and became widely recognized as the master.

learned four big lessons from the dot-com crash that still guide business thinking today: 1. Make incremental advances Grand visions inflated the bubble, so they should not be indulged. Anyone who claims to be able to do something great is suspect, and anyone who wants to change the world should be more humble. Small, incremental steps are the only safe path forward. 2. Stay lean and flexible All companies must be “lean,” which is code for “unplanned.” You should not know what your business will do; planning is arrogant and inflexible. Instead you should try things out, “iterate,” and treat entrepreneurship as agnostic experimentation. 3. Improve on the competition Don’t try to create a new market prematurely. The only way to know you have a real business is to start with an already existing customer, so you should build your company by improving on recognizable products already offered by successful competitors. 4. Focus on product, not sales If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution. Bubble-era advertising was obviously wasteful, so the only sustainable growth is viral growth.

There are many reasons projects can die: funding dwindles, a competitor wins, the market changes, a key person leaves. But the False Fail is common to loonshots. Risks of this type of death can never be fully eliminated—negative results don’t come with a neon sign that lights up “your idea is flawed” or “your test is flawed.” But those risks can be reduced, which is exactly what Endo and Folkman did, as we will discuss below. People may think of Endo and Folkman as great inventors, but arguably their greatest skill was investigating failure. They learned to separate False Fails from true fails.

Alertness, the ability to be constantly observing, absorbing, and learning from what’s going on around you, is a critical component for the individual in charge, the leader who strives for continuous improvement. You must constantly be awake, alive, and alert in evaluating yourself as well as the strengths and weaknesses of your organization and your competitors.

Over time, the structures, culture, and defaults that make up an organizational system become deeply ingrained, self-reinforcing, and very difficult to reshape. That makes sense when things are going well. But when something important changes—as with the economic and financial crises that began in 2008, or in more normal times when a new competitor enters the industry, the organization’s founder leaves, customers’ preferences shift, or new laws are passed—the system’s tenacity can prevent it from adapting, from learning to thrive in the new context.

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The entrepreneurs who stuck with Silicon Valley learned four big lessons from the dot-com crash that still guide business thinking today: 1. Make incremental advances Grand visions inflated the bubble, so they should not be indulged. Anyone who claims to be able to do something great is suspect, and anyone who wants to change the world should be more humble. Small, incremental steps are the only safe path forward. 2. Stay lean and flexible All companies must be “lean,” which is code for “unplanned.” You should not know what your business will do; planning is arrogant and inflexible. Instead you should try things out, “iterate,” and treat entrepreneurship as agnostic experimentation. 3. Improve on the competition Don’t try to create a new market prematurely. The only way to know you have a real business is to start with an already existing customer, so you should build your company by improving on recognizable products already offered by successful competitors. 4. Focus on product, not sales If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution. Bubble-era advertising was obviously wasteful, so the only sustainable growth is viral growth.