Overnight Market Quotes

The change from shopping in-stores to shopping online didn’t happen overnight. It was a big cultural change which took many years.

THE CORRECTION, when it finally came, was not an overnight bursting of a bubble but a much more gentle letdown, a year-long leakage of value from key financial markets, a contraction too gradual to generate headlines and too predictable to seriously hurt anybody but fools and the working poor.

I'm telling you, this so-called 'prosperity' is going to be the downfall of Asia. Each new generation becomes lazier than the next. They think they can make overnight fortunes just by flipping properties and getting hot tips in the stock market. Ha! Nothing lasts forever, and when this boom ends, these youngsters won't know what hit them

„If all women on earth woke up tomorrow feeling truly positive and powerful in their bodies, the economies of the globe would collapse overnight.

Transforming your customer service from mediocre to great won't happen overnight, though. It requires a serious commitment to meaningful change, a team of rockstar support professionals, and work across the entire organization.

You “burn” your way into the mind by narrowing the focus to a single word or concept. It’s the ultimate marketing sacrifice. Federal Express was able to put the word overnight into the minds of its prospects because it sacrificed its product line and focused on overnight package delivery only. In a way, the law of leadership—it’s better to be first than to be better—enables the first brand or company to own a word in the mind of the prospect. But the word the leader owns is so simple that it’s invisible. The leader owns the word that stands for the category. For example, IBM owns computer. This is another way of saying that the brand becomes a generic name for the category. “We need an IBM machine.” Is there any doubt that a computer is being requested? You can also test the validity of a leadership claim by a word association test. If the given words are computer, copier, chocolate bar, and cola, the four most associated words are IBM, Xerox, Hershey’s, and Coke. An astute leader will go one step further to solidify its position. Heinz owns the word ketchup. But Heinz went on to isolate the most important ketchup attribute. “Slowest ketchup in the West” is how the company

There's no "get rich quick." There's no "overnight success." However, this doesn't mean that when you decide to start a business that you're just starting. You could start making new money tomorrow. I was fishing with my son and taught him that you can't catch a fish unless your line is in the water. A truth my dad once taught me. You may have spent years learning a skill or creating a product or service that you just simply haven't thought to monetize. Like leaving a fishing pole on the ground along side the river, but not having your line in the water yet. All you need to create a new stream of income is to make something consumable and offer it at a price that someone will pay. If you're not making offers, you're not making money. Get your line in the water!

On May 3, 1997, a chess match began between Deep Blue, a chess computer built by IBM, and Garry Kasparov, the world chess champion and possibly the best human player in history. Newsweek billed the match as “The Brain’s Last Stand.” On May 11, with the match tied at 2½–2½, Deep Blue defeated Kasparov in the final game. The media went berserk. The market capitalization of IBM increased by $18 billion overnight. AI had, by all accounts, achieved a massive breakthrough.

depression in its major stages possesses no quickly available remedy: failure of alleviation is one of the most distressing factors of the disorder as it reveals itself to the victim, and one that helps situate it squarely in the category of grave diseases. Except in those maladies strictly designated as malignant or degenerative, we expect some kind of treatment and eventual amelioration, by pills or physical therapy or diet or surgery, with a logical progression from the initial relief of symptoms to final cure. Frighteningly, the layman-sufferer from major depression, taking a peek into some of the many books currently on the market, will find much in the way of theory and symptomatology and very little that legitimately suggests the possibility of quick rescue. Those that do claim an easy way out are glib and most likely fraudulent. There are decent popular works which intelligently point the way toward treatment and cure, demonstrating how certain therapies—psychotherapy or pharmacology, or a combination of these—can indeed restore people to health in all but the most persistent and devastating cases; but the wisest books among them underscore the hard truth that serious depressions do not disappear overnight. All of this emphasizes an essential though difficult reality which I think needs stating at the outset of my own chronicle: the disease of depression remains a great mystery. It has yielded its secrets

Because culture is a matter of ethical habit, it changes very slowly—much more slowly than ideas. When the Berlin Wall was dismantled and communism crumbled in 1989-1990, the governing ideology in Eastern Europe and the Soviet Union changed overnight from Marxism-Leninism to markets and democracy. Similarly, in some Latin American countries, statist or nationalist economic ideologies like import substitution were wiped away in less than a decade by the accession to power of a new president or finance minister. What cannot change nearly as quickly is culture. The experience of many former communist societies is that communism created many habits—excessive dependence on the state, leading to an absence of entrepreneurial energy, an inability to compromise, and a disinclination to cooperate voluntarily in groups like companies or political parties—that have greatly slowed the consolidation of either democracy or a market economy. People in these societies may have given their intellectual assent to the replacement of communism with democracy and capitalism by voting for “democratic” reformers, but they do not have the social habits necessary to make either work.

Tom Argent had once loved fairy tales. When he was very young, he had loved to read about princes, and kings, and queens, and fairies, and goblins, and magic. He even liked to pretend that he was the son of a fairy queen, or a pirate king, who had been adopted by humans, and one day would claim his kingdom. His parents had grown concerned at this. They had never hidden the fact that Tom was adopted, and they knew that all children liked to pretend. But Tom's imagination was especially vivid. He loved his parents very much, but they were afraid that this daydreaming might lead him to reject them one day. And so, they had both gone out of their way to discourage his love of fairy tales. Whenever they saw him with his books, they would tell him: 'Stories aren't real. Magic is just an illusion. Fairies don't exist, Tom. Only trust what you can see.' Then, on his seventh birthday, they had given Tom a camera, and the books of fairy tales had vanished swiftly and silently overnight, to be replaced by magazines devoted to different types of lens, in which the young Tom Argent had found another kind of magic. But looking at these images of the mysterious girl, he felt as if he had returned to the world of those long-ago storybooks, and it felt both exciting and wonderful, and deeply, darkly dangerous.

It felt like fate when I first encountered the automated trading system that promised to transform small investments into substantial wealth over time. The marketing was aggressive, bombarding my social media feeds with images of people lounging on exotic beaches, driving fancy cars, and celebrating their newfound financial freedom. WhatsApp info:+12723328343 As a recent college graduate struggling to make ends meet, I was desperate for a way out of my financial rut, and the allure of easy money was too tempting to ignore. On a whim, I decided to take the plunge. I borrowed from my meager savings and even took out a small loan to fund my excitement. The rush I felt when signing up was like nothing I had ever experienced—an intoxicating thrill, like hopping onto a rollercoaster at full speed. At first, everything seemed to be going exactly as promised. My investment seemed to grow almost overnight, doubling and tripling in value.  My skepticism began to fade, replaced by a sense of confidence and hope for the future. I even shared my success with friends and family, excitedly telling them about the platform that was going to change my life. I imagined a future free from financial worries, a life of luxury and freedom, all thanks to this “revolutionary” trading system. But soon, a familiar sense of unease began to settle in. What had been an impressive surge in profits suddenly plateaued, and I found myself facing unexpected hurdles when trying to withdraw my funds. Pop-up messages about my “account needing an upgrade” and “market tightening” explained away the issues, but the discomfort grew. Still, I convinced myself that success required patience and continued to hold out hope that the system would recover. As weeks turned into months, my investment continued to dwindle. The once-promising account balance plummeted, and each attempt to reach customer support went unanswered. The promises of easy wealth had turned into an unsettling nightmare. Email info: Adwarerecoveryspecialist@auctioneer. net Desperate for answers, I began scouring the internet for any information or advice. That’s when I stumbled across reviews of ADWARE RECOVERY SPECIALIST , a service that seemed to specialize in helping people like me recover lost funds from fraudulent platforms. I felt a glimmer of hope as I read about others who had managed to retrieve their investments with the help of ADWARE RECOVERY SPECIALIST. Perhaps, after all, there was still a way out of this mess. I reached out to their team, and to my relief, they were able to assist me in recovering a portion of the money I thought I had lost for good. ADWARE RECOVERY SPECIALIST gave me the guidance and support I needed to navigate this complicated process, helping me regain control of a situation that had seemed hopeless. Their professionalism and expertise allowed me to salvage what I could, and for that, I am incredibly grateful.

If you buy stock in Apple (ticker: AAPL) today, for instance, you will not hold your position overnight and sell it tomorrow. If you hold onto any stock overnight, it is no longer day trading, it’s called swing trading.

Rule 3: Day traders do not hold positions overnight. If necessary, you must sell with a loss to make sure you do not hold onto any stock overnight

Established Sino-Burmese businessmen continue to remain at the helm of Myanmar's economy, where the Chinese minority have been transformed almost overnight into a garishly distinctive prosperous business community. Much of the foreign investment capital into the Burmese economy has been from Mainland Chinese investors and channeled through Burmese Chinese business networks for new startup businesses or foreign acquisitions. Many members of the Burmese Chinese business community act as agents for Mainland and overseas Chinese investors outside of Myanmar. In 1988, the State Law and Order Restoration Council (SLORC) came to power, and gradually loosened the government's role in the economy, encouraging private sector growth and foreign investment. This liberalization of state's role in the economy, if slight and uneven, nonetheless gave Burmese Chinese-led businesses extra space to expand and reassert their economic clout. Today, virtually all of Myanmar's retail, wholesale and shipping firms are in Chinese hands. For example, Sein Gayha, a major Burmese retailer that began in Yangon's Chinatown in 1985, is owned by a Burmese Hakka family. Moreover, ethnic Chinese control the nations four of the five largest commercial banks, Myanmar Universal Bank, Yoma Bank, Myanmar Mayflower Bank, and the Asia Wealth Bank. Today, Myanmar's ethnic Chinese community are now at the forefront of opening up the country's economy, especially towards Mainland China as an international overseas Chinese economic outpost. The Chinese government has been very proactive in engaging with the overseas Chinese diaspora and using China's soft power to help the Burmese Chinese community stay close to their roots in order to foster business ties.[9] Much of the foreign investment from Mainland China now entering Myanmar is being channeled through overseas Chinese bamboo networks. Many members of the Burmese Chinese business community often act as agents for expatriate and overseas Chinese investors outside of Myanmar.

Altogether, the world of autos—and their fuel suppliers—has become the arena for a new kind of competition. It is no longer just about selling cars to consumers for personal use. No longer just automakers versus automakers, no longer gasoline brands versus gasoline brands. It has become multidimensional. Gasoline-powered cars versus electric cars. Personal ownership of cars versus mobility services. And people-operated cars versus robotic driverless cars. The result is a battle among technologies and business models, and a struggle for market share. Change does happen, just not overnight

Overnight success does not exist.

A few thousand miles away, Nine Inch Nails' rock star Trent Reznor sauntered off a concert stage as the crowd roared. Security guards rushed to his side. Screaming groupies pushed backstage. Trent nodded and waved, heading back through the crowd. He didn't have time for this. There were more important things waiting. He stepped onto his tour bus, forsaking the drugs, the beer, the women, for the computer awaiting him. It was time again for Doom. Scenes like these had spread around the world since the game crashed the University of Wisconsin's network on December 10. With out an ad campaign, without marketing or advance hype from the mainstream media, Doom became an overnight phenomenon

where it takes years to realize how important a product or company is, but failures can happen overnight. And in stock markets, where a 40% decline that takes place in six months will draw congressional investigations, but a 140% gain that takes place over six years can go virtually unnoticed. And in careers, where reputations take a lifetime to build and a single email to destroy.

...the reality is that most people (aka the public at large or wantrepreneurs with no skin in the game) see "Shark Tank" and think that all they need to be multi-millionaires overnight is to come up with a cool idea and pitch it to a group of fatcats. You can't have sales without business development and you can't have business development without sales. It's like digital marketing without SEO, eCommerce, branding, design, and content. It's popular and easy to see complex processes as simple one and done single items, but it's not the real world. When we break down goals into realistic point by point objectives needed to achieve that goal, then break down steps in a chain needed to attain each objective point, then figure out how we have to behave and who we have to become to put that chain into action, things get done quickly.

Most fundamental to social harmony is harmony between the social classes, and the key to harmony between the classes is social justice. That's why a society with a power market economy will never be harmonious. Fairness requires a new system that provides checks and balances on power and controls capital. Power must be caged by a constitution and operate within the confines of law. Capital needs to be controlled though a system that gives free rein to its positive aspects while controlling the danger its rapaciousness poses to society. The experience of humanity over the past two centuries has shown us that constitutional democracy is an effective system for applying checks and balances on power and controlling capital. That requires breaking through the modern version of 'Soviet learning as the base, Western learning for application' that serves as the guiding ideology of reform, carrying out political systemic reform, and enacting fundamental change to the bureaucratic system. Of course, this will take time and cannot happen overnight. Sudden change is dangerous, and peaceful evolution is more appropriate.

massive transitions to something entirely “new” were always defined in terms of a response to a violent external shock or the threat of one to come. World War II, for example, led to the introduction of cradle-to-grave state welfare systems in most of Europe. So did the Cold War: governments in capitalist countries were so worried by an internal communist rebellion that they put into place a state-led model to forestall it. This system, in which state bureaucrats managed large chunks of the economy, ranging from transportation to energy, stayed in place well into the 1970s. Today the situation is fundamentally different; in the intervening decades (in the Western world) the role of the state has shrunk considerably. This is a situation that is set to change because it is hard to imagine how an exogenous shock of such magnitude as the one inflicted by COVID-19 could be addressed with purely market-based solutions. Already and almost overnight, the coronavirus succeeded in altering perceptions about the complex and delicate balance between the private and public realms in favour of the latter. It has revealed that social insurance is efficient and that offloading an ever-greater deal of responsibilities (like health and education) to individuals and the markets may not be in the best interest of society.

Platform dependence can be disastrous if not managed well. If you integrate too closely with a preexisting network, allowing them to control your distribution, engagement, and business model, you become just a feature of their network. Had Airbnb been conceived as a tool to manage Craigslist listings and nothing else, it would have served at the leisure of its parent platform—grow too large, or make a wrong move, and it might be existential. Frequently the larger network will simply reach up and duplicate functionality if it gets too popular—a playbook that Microsoft executed in the 1990s with Office and Internet Explorer, among others. Or if the underlying network decides that it no longer wants to provide the same level of API access, as both Twitter and Facebook eventually did, any products dependent on this became worthless overnight. In the end, cherry picking is an enormously powerful move because it exposes the fundamental asymmetry between the David and Goliath dynamic of networks. A new product can decide where to compete, focus on a single point, and build an atomic network—whereas a larger one finds it tough to defend every inch of its product experience. It’s one of the reasons why, particularly in consumer markets, it’s been so hard for “winner take all” to really happen in a literal way. The largest networks can take a lot, in many networks, but they remain vulnerable to any new upstart that uses cherry picking as a core strategy.

There is also a risk in some markets of a significant devaluation of the local currency. For example, if the country experiences a financial crisis and devalues its currency to the point that your goods are no longer competitively priced, you can lose your market position overnight. There are no easy answers when it comes to getting paid for international sales but planning in advance beats learning hard lessons after the fact. Choose the solutions that work best for your company and prepare for the implications of those choices. The best strategy is to do the due diligence on your new customers.

We all live in a world governed by uncertainty. No one can predict the future with complete accuracy, no matter how well-informed or well-prepared they may be. The stock market fluctuates, relationships evolve, and our health can change overnight. By accepting that uncertainty is a fundamental aspect of life, we free ourselves from the burden of trying to control every detail.

The US was now, in Sam’s mind, the holy grail. It had an incumbent crypto exchange, Coinbase. But Coinbase’s CEO had already written insulting tweets about the SEC. And Coinbase, compared to FTX, was a boring and bloated casino. It had fifteen times the number of employees FTX did, and only about a fifth of FTX’s volume. Charging retail investors fees between five and fifty times what FTX charged, it was still running big losses. Even so, it was a public company, with a market capitalization of more than $75 billion. If FTX was granted a license to offer crypto futures in the United States and was given full access to US investors, it might steal Coinbase’s customers, along with its market cap. Or so Sam thought—which is why he also thought that the license might double or even triple FTX’s value overnight.

ANIMATIONS Visually engaging architectural animations for presentation or marketing. UR Studio's commitment to delivering overnight services exemplifies their dedication to customer satisfaction. In an industry where time is often a scarce resource, their innovative approach allows architects to concentrate on the creative aspects of their projects while entrusting the essential drafting and modeling work to a team that operates tirelessly. As a result, UR Studio has become an indispensable partner for architectural firms, ensuring that designs are brought to life efficiently and flawlessly, enabling architects to turn their visions into reality. With UR Studio, the architectural world can continue to flourish with speed, precision, and creativity at its core.

Owned Traffic Channels A friend of mine owns a SaaS company that’s competing in a massively crowded space. His product gets 500,000 unique visitors a month because he’s exceptional at search engine optimization (SEO), and his company ranks on the first page of Google for many high-volume terms. He owns these organic traffic channels in his market, so even though other names on those pages might be more recognizable, he can stay highly competitive. Even if you own a high-traffic search term on Google, Amazon, or the WordPress plugin store, you can have a pretty commoditized product that can still succeed. One caveat is that this moat can be a bit dicey to maintain because the algorithms at any of those companies can change quickly—and have. Google’s many updates have tanked businesses overnight that depended solely on SEO-driven traffic.

The Greek GDP spiked 25% when statisticians dove into the country’s black market in 2006, for instance, thereby enabling the government to take out several hefty loans shortly before the European debt crisis broke out. Italy started including its black market back in 1987, which swelled its economy by 20% overnight. “A wave of euphoria swept over Italians,” reported the New York Times, “after economists recalibrated their statistics taking into account for the first time the country’s formidable underground economy of tax evaders and illegal workers.”4 And that’s to say nothing of all the unpaid labor that doesn’t even qualify as part of the black market, from volunteering to childcare to cooking, which together represents more than half of all our work. Of course, we can hire cleaners or nannies to do some of these chores, in which case they count toward the GDP, but we still do most ourselves. Adding all this unpaid work would expand the economy by anywhere from 37% (in Hungary) to 74% (in the UK).5 However, as the economist Diane Coyle notes, “generally official statistical agencies have never bothered – perhaps because it has been carried out mainly by women.”6 While we’re on the subject, only Denmark has ever attempted to quantify the value of breastfeeding in its GDP. And it’s no paltry sum: In the U.S., the potential contribution of breast milk has been estimated at an incredible $110 billion a year7 – about the size of China’s military budget.

And with the inflation our inner system disintegrated utterly. Fortunes disappeared overnight. Money that one day would have meant lifelong security, on the next would not buy a loaf of bread. Workmen were paid daily and carried their baskets of paper marks in desperate haste to the stores, buying the first articles they could lay their hands on before the price should double. Then they began to be paid twice a day, staggering barrow-loads of bills that would be hardly enough to buy a cabbage by the time they could get to the market.

Late one day on her way home from the market, she took a detour to the train station, hoping to find customers for some unsold cookies. Workers were sweeping up the station’s plaza. A couple of men walked by, pulling a heavy wooden cart. Mrs. Song looked to see what they were transporting. It was a heap of bodies, maybe six of them, people who had died at the station overnight. A few bony limbs flopped out of the cart. A head lolled as the cart jostled over the pavement. Mrs. Song stared; the head belonged to a man about forty years old. His eyes blinked faintly, Not quite dead yet, but close enough to be carted away.

While success can come overnight for some, it can also grow organically as your goals become clear. With clarity comes confidence. With confidence comes success.

In 2013, Hertz Global Rental took a 20 percent stake in China’s biggest car-rental firm, privately owned China Auto Rental. Overnight, the U.S. company’s presence in China expanded from 5 outlets to 700. China Auto Rental got access to Hertz’s customer referrals, one of the main sources of business for car rentals. This sector will only grow in importance as China’s car-rental market grows from $4 billion to $20 billion—equaling America’s.

As a reminder, among other things, the FOMC sets the fed funds interest rate, the rate at which commercial banks lend reserve balances to each other on an uncollateralized basis in the overnight market.

While it was possible, then, for Apple to make up ground in software very quickly, doing so in the world of data was substantially more challenging even for a company of its resources. There are no shortcuts, as data simply cannot be generated overnight. There are only two means of producing it: collecting it over time, or acquiring an entity who has done so. Unlike software, then, which is a thin shield against would-be market entrants, organizations that amass a large body of data from which to extract value for themselves or their customers are well protected against even the largest market incumbents. Every software organization today should be aggregating data, because customers are demanding it. Consider, for example, online media services such as Netflix or Pandora. Their ability to improve their recommendations to customers for movies or music depends in turn on the data they’ve collected from other customers. This data, over time, becomes far more difficult to compete with than mere software. Which likely explains why Netflix is willing to open source the majority of its software portfolio but guards the API access to its user data closely.

Rule 3: Day traders do not hold positions overnight. If necessary, you must sell with a loss to make sure you do not hold onto any stock overnight.

Countrywide also financed itself through a complex market known as “tri-party repo,” selling securities while agreeing to repurchase them at a specified time, often as soon as the next day—essentially, borrowing overnight with the securities as collateral.

Innovative Market Systems was no overnight success. Bloomberg began by investing about $300,000 and went to work with three recruits he had met at Salomon—Thomas Secunda, who specialized in analytics; Chuck Zegar, who created the software; and Duncan MacMillan, the expert in customer needs. All three are still at Bloomberg L.P., wealthy but unsung heroes of the Bloomberg saga.

1. The conglomerate movement, “with all its fancy rhetoric about synergism and leverage.” 2. Accountants who played footsie with stock-promoting managements by certifying earnings that weren’t earnings at all. 3. “Modern” corporate treasurers who looked upon their company pension funds as new-found profit centers and pressured their investment advisers into speculating with them. 4. Investment advisers who massacred clients’ portfolios because they were trying to make good on the over-promises that they had made to attract the business. 5. The new breed of investment managers who bought and churned the worst collection of new issues and other junk in history, and the underwriters who made fortunes bringing them out. 6. Elements of the financial press which promoted into new investment geniuses a group of neophytes who didn’t even have the first requisite for managing other people’s money—namely, a sense of responsibility. 7. The securities salesmen who peddle the items with the best stories—or the biggest markups—even though such issues were totally unsuited to the customers’ needs. 8. The sanctimonious partners of major investment houses who wrung their hands over all these shameless happenings while they deployed an army of untrained salesmen to forage among even less trained investors. 9. Mutual fund managers who tried to become millionaires overnight by using every gimmick imaginable to manufacture their own paper performance. 10. Portfolio managers who collected bonanza incentives of the “heads I win, tails you lose” kind, which made them fortunes in the bull market but turned the portfolios they managed into disasters in the bear market. 11. Security analysts who forgot about their professional ethics to become storytellers and let their institutions be taken in by a whole parade of confidence men. This was the “list of horrors that people in our field did to set the stage for the greatest blood bath in forty years,

And while seeking out the opinions and perspectives of people like ourselves may lead to a more personal and familiar buying experience, what’s even more amazing is the impact those trusted sources have on conversion rates. B2B sales cycle data from Salesforce demonstrates that, when it comes to lead conversion, the interest that originates from customer and employee referrals converts to deals at rates fifty times higher than email campaigns!9 Furthermore, data from marketing automation giant Marketo indicates that leads originating from referrals convert to opportunities at rates of four times the average, and similar to the next three highest-converting lead sources combined (those being partner, inbound, and marketing-generated).10 My personal experience over the years greatly corroborates these statistics. For example, when I started my own sales practice, Cerebral Selling, I needed to have a logo designed. Around the same time, my friend had recently had a nice logo designed for his business. I asked him who he used, he told me, and I just did the same. No further research or investigation required. A short time later, I wanted to head out of town with my wife for an overnight trip to the beautiful Niagara wine region of Ontario to celebrate our anniversary. I didn’t know where to stay or which restaurant to go to, so instead of sifting through pages of online content and reviews, I asked a friend who runs a vineyard in the region. When he gave me his recommendations, I simply booked the places he told me. No questions asked. Were there better places to stay and eat? Potentially. Were there other creative design shops that could have generated equally if not more spectacular logos? More than likely. Do I care? Absolutely not! I love my logo and had a great anniversary outing, and feel secure in my decisions around both because of the feeling I received by selecting recommendations from people I trust. Both experiences are perfect examples of the prescriptive-led sales cycle we spoke about in chapter 2. This means that when it comes to your selling motion, one of the most unobtrusive, empathetic, and authentic ways to convert prospective buyers is simply to surround them with like-minded customers who love you.

None of these failures occurred overnight or out of the blue. Quite the opposite. The seeds of failure were taking root for months or years while senior management remained blissfully unaware. In many organizations, like those discussed in this chapter, countless small problems routinely occur, presenting early warning signs that the company's strategy may be falling short and needs to be revisited. Yet these signals are often squandered. Preventing avoidable failure thus starts with encouraging people throughout a company to push back, share data, and actively report on what is really happening in the lab or in the market so as to create a continuous loop of learning and agile execution.

Latent Needs The larger and more significant portion of the market is comprised of prospects who do have needs for your product or service, but haven’t yet recognized those needs. In QBS, we say that these prospects have latent needs. Latent needs are needs that do exist but haven’t yet surfaced as problems or desires. Prospects with latent needs fail to recognize that they are no longer satisfied with the status quo. As an example, suppose you and I were standing beside your car when suddenly we noticed that one of your tires was worn down to the cords. Instantly, you would have a need for new tires. The question is, did you have a need for new tires yesterday? Sure you did. The tread on your tire didn’t wear itself down overnight. But until you actually recognized the existence of a problem, your need for new tires was latent. It existed, although you were not aware of it at the time. This is essentially what happened when Brent called me. I absolutely had a need for septic tank improvement products, but my need was a latent need. Salespeople encounter prospects with latent needs all the time—especially prospects who say things like: “I don’t need life insurance because I’m not planning to die any time soon.” Or, “We don’t have time to evaluate new technology, because we’re too busy putting out fires.” Here’s my personal favorite: “We can’t afford sales training right now, because sales have been slow.

Technology innovation is a key factor in retaining the gains produced by business model innovation. After all, if one technology innovation can create a new market, another technology innovation can render it obsolete, seemingly overnight. While Uber has achieved massive scale, the greatest threat to its future doesn’t come in the form of direct competitors like Didi Chuxing, though these are formidable threats. The greatest threat to Uber’s business is the technology innovation of autonomous vehicles, which could make obsolete one of Uber’s biggest competitive advantages—its carefully cultivated network of drivers—essentially overnight.

The joke is that it takes twenty years to make an overnight success. In business, it’s more like six to ten. It always takes longer than you think to find product/market fit, to get your customers’ attention, to build a complete solution, and then to make money. You typically need to create at least three generations of any new, disruptive product before you get it right and turn a profit. This is true for B2B and B2C, for companies that build with atoms or electrons or both, for brand-new startups and brand-new products.

During the best of times, Silicon Valley brimmed with opportunity. It seemed that every kid with a laptop and a hoodie could slap the dotcom suffix on the end of almost anything—stamps.com, shoes.com, drugstore.com, webvan.com, eToys.com, garden.com—and become a millionaire overnight. Venture capitalists poured money into these companies, and their valuations soared. But there’s no piece of music in which the crescendo doesn’t eventually crash. Most people can’t recognize when they’re in a bubble—or they don’t want to recognize it. Markets and industries are cyclical by nature. During periods of significant innovation, bubbles form because expectations grow faster than reality, and hope gets too far out in front of a future that doesn’t currently exist. The problem was that the structures, timing, and valuations of these startups were all dependent upon assumed growth and the execution of ambitious business plans, and those assumptions and executions often weren’t reasonable or achievable.

once you learn and master the workings of the market, you can achieve the financial independence that will allow you to pursue your hopes, dreams, and bucket list. The big money is made slowly and surely, not overnight, so beware of anyone saying they made a million dollars quickly.

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