Scaling Your Business Quotes

The trick of enjoying New York is not to be so busy grinding your way to the center of the earth that you fail to notice the sparkle of the place, a scale and a kind of wonder that puts all human endeavors in their proper place.

A year of intense exercise and watching what you eat will likely change the trajectory of your life physically. You will melt away fat, tone up muscle, feel better, and change your habits, likely for life. But only ten days of that exercise program won’t move the needle on the scale. To create big-time success you have to stay focused and stay intense over an extended period of time.

What you want is a business that is positioned to scale to the point where you are managing people and constantly improving internal systems – not working to serve customers.

You keep pressing me,” he said, “to say that the attacks start with this symptom or that symptom, this phenomenon or that phenomenon, but this is not the way I experience them. It doesn’t start with one symptom, it starts as a whole. You feel the whole thing, quite tiny at first, right from the start.… It’s like glimpsing a point, a familiar point, on the horizon, and gradually getting nearer, seeing it get larger and larger; or glimpsing your destination from far off, in a plane, having it get clearer and clearer as you descend through the clouds.” “The migraine looms,” he added, “but it’s just a change of scale—everything is already there from the start.” This business of “looming,” of huge changes of

A life coach? What does that mean? It doesn’t mean anything, does it? So they ‘coach’ people on how to live their lives? Why don’t they mind their own fucking business? They only call themselves life coaches because they can’t get a job. Because they’re unemployable. And they haven’t got any qualifications either. Do you think they went to Uni to study life coaching? Of course they didn’t. And who do they coach anyway? Do people go to them and ask to be coached on their lives? I hardly think so. They’d see a psychiatrist or a psychologist or someone with a bit of clout, wouldn’t they? They don’t coach anybody at all, do they? They’ve made it all up. So, there you have it. At the bottom end of the otherworldly, metaphysical scale, even less developed spiritually than Orphans or Horace, are Life Coaches.

Take all those things that would propose to be important, and weigh them upon the scale of your soul. Asking how much each thing actually impacts, not just the moment, but the years ahead. Discard all that is trivial masquerading as significant, and reserve your days for those things that truly matter.

Although strong conviction is essential to building your vision, until you have data, you shouldn’t go too far in any one direction. The sooner you realize that, the better chance you will have of identifying your real W3 quickly—at least in its first iteration—so that you can get to scaling your business.

You cannot scale your business if that means that you do most (or even some) of the work.

As the cat said to Alice, ‘if you don’t know where you are going – all roads will take you there.

If you don’t give your team permission to fail, you’re not giving them permission to innovate.

As an entrepreneur, the story you start with is probably wrong. But until you start testing your underlying hypotheses, you don’t know how you’re wrong.

The key to human-centric digital transformation is knowing your business purpose so you can fulfill it more meaningfully at scale.

You’ve probably heard about “first mover advantage”: if you’re the first entrant into a market, you can capture significant market share while competitors scramble to get started. But moving first is a tactic, not a goal. What really matters is generating cash flows in the future, so being the first mover doesn’t do you any good if someone else comes along and unseats you. It’s much better to be the last mover—that is, to make the last great development in a specific market and enjoy years or even decades of monopoly profits. The way to do that is to dominate a small niche and scale up from there, toward your ambitious long-term vision. In this one particular at least, business is like chess. Grandmaster José Raúl Capablanca put it well: to succeed, “you must study the endgame before everything else.

The lesson here is that you cannot hate marketing if you’re in business! It’s 100% a mentality issue. You may have the best product in a specific niche, but you can’t be successful until you accept that your business is marketing and the product is just the thing you sell.

When you feel the need to escape your problems, to escape from this world, don't make the mistake of resorting to suicide Don't do it! You will hear the empty advice of many scholars in the matter of life and death, who will tell you, "just do it" there is nothing after this, you will only extinguish the light that surrounds you and become part of nothingness itself, so when you hear these words remember this brief review of suicide: When you leave this body after committing one of the worst acts of cowardice that a human being can carry out, you turn off the light, the sound and the sense of reality, you become nothing waiting for the programmers of this game to pick you up from the darkness, subtly erase your memories and enable your return and I emphasize the word subtle because sometimes the intelligence behind this maneuver or automated mechanism is wrong and send human beings wrongly reset to such an extent, that when they fall to earth and are born again, they begin to experience memories of previous lives, in many cases they perceive themselves of the opposite sex, and science attributes this unexplainable phenomenon to genetic and hormonal factors, but you and I know better! And we quickly identified this trigger as a glitch in the Matrix. Then we said! That a higher intelligence or more advanced civilization throws you back into this game for the purpose of experimenting, growing and developing as an advanced consciousness and due to your toxic and destructive behavior you come back again but in another body and another life, but you are still you, then you will carry with you that mark of suicide and cowardice, until you learn not to leave this experience without having learned the lesson of life, without having experienced and surprised by death naturally or by design of destiny. About this first experience you will find very little material associated with this event on the internet, it seems that the public is more reserved, because they perceive themselves and call themselves "awakened" And that is because the system has total control over the algorithm of fame and fortune even over life and death. Now, according to religion and childish fears, which are part of the system's business to keep you asleep, eyes glued to the cellular device all day, it says the following: If you commit this act of sin, you turn off light, sound and sense of reality, and from that moment you begin to experience pain, fear and suffering on alarming scales, and that means they will come for you, a couple of demons and take you to the center of the earth where the weeping and gnashing of teeth is forever, and in that hell tormented by demons you will spend eternity. About this last experience we will find hundreds of millions of people who claim to have escaped from there! And let me tell you that all were captivated by the same deity, one of dubious origin, that feeds on prayers and energetic events, because it is not of our nature, because it knows very well that we are beings of energy, then this deity or empire of darkness receives from the system its food and the system receives from them power, to rule, to administer, to control, to control, to kill, to exclude, to inhibit, to classify, to imprison, to silence, to infect, to contaminate, to depersonalize. So now that you know the two sides of the same coin, which one will your intelligence lean towards! You decide... Heads or tails? From the book Avatars, the system's masterpiece.

The Social Security system is a $75 trillion problem. Again, just to give you a sense of scale: Let’s say you started a business the day Jesus Christ was born. Let’s say you weren’t exactly a good businessman, and your business lost a million dollars every day—right through yesterday. How much longer would it take before your losses added up to $1 trillion? About 718 more years should do it, give or take a few months. And that’s just one trillion. Multiply that by seventy-five, and you have the size of the Social Security problem. That’s the amount it would take to fully fund Social Security for all current workers and retirees. To realize the magnitude of the problem we’re facing, consider the fact that the total of all wealth in America is about $60 trillion. We could confiscate every item of value from every American household, including cash and investments, and apply the value to the problem—and still not have enough money to fund Social Security fully.

Finally, when young people who “want to help mankind” come to me asking, “What should I do? I want to reduce poverty, save the world,” and similar noble aspirations at the macro-level, my suggestion is: 1) Never engage in virtue signaling; 2) Never engage in rent-seeking; 3) You must start a business. Put yourself on the line, start a business. Yes, take risk, and if you get rich (which is optional), spend your money generously on others. We need people to take (bounded) risks. The entire idea is to move the descendants of Homo sapiens away from the macro, away from abstract universal aims, away from the kind of social engineering that brings tail risks to society. Doing business will always help (because it brings about economic activity without large-scale risky changes in the economy); institutions (like the aid industry) may help, but they are equally likely to harm (I am being optimistic; I am certain that except for a few most do end up harming). Courage (risk taking) is the highest virtue. We need entrepreneurs.

Since tech became a consumer phenomenon, thousands of nontech people have come up with great ideas that use technology. But if their startups outsource their engineering, they almost always fail. Why? It turns out that it’s easy to build an app or a website that meets the specification of some initial idea, but far more difficult to build something that will scale, evolve, handle edge cases gracefully, etc. A great engineer will only invest the time and effort to do all those things, to build a product that will grow with the company, if she has ownership in the company—literally as well as figuratively. Bob Noyce understood that, created the culture to support it, and changed the world.

We don’t talk about what keeps us eating until we’re sick, busy beyond human scale, desperate to numb and take the edge off, and full of so much anxiety and self-doubt that we can’t act on what we know is best for us. We don’t talk about the hustle for worthiness that’s become such a part of our lives that we don’t even realize that we’re dancing.

Narrow down who your ideal customer is. Narrow until you can narrow no more. Define exactly what pain point you are solving for them, and how much they will pay you to solve it. Set a hard deadline and focus fully on building a solution, then charge for it. Repeat the process until you’ve found a product that works, then scale a business around it.

I'm wondering how many times he can possibly use the word alliance in one sentence when Tiny Cooper cuts Mr. Fortson off by saying, "Hey, wait, Jane, you're straight?" And she nods without realign looking up and then mumbles, "I mean, I think so, anyway." "You should date Grayson," Tiny says. "He thinks you're super cute." If i were stand on a scale fully dressed, sopping wet, holding ten-pound dumbbells in each hand and balancing a stack of hardcover books on my head, I'd weigh about 180 pounds, which is approximately equal to the weight of Tiny Cooper's left tricep. But in this moment, I could beat the holy living shit out of Tiny Cooper. And I would, I swear to God, except I'm too busy trying to disappear.

Delegate judiciously: This is another incredibly important lesson for leading. A finance billionaire once told me that to scale a business you have to know how to delegate: “A great employee will do something 80 percent the same way you would do it. The last 20 percent is their personal take on the deliverable. There’s a 50 percent chance that your way would be the right way and a 50 percent chance that their way is better. They’re not going to do it 100 percent the same way you would, but you have to hope that you hire people who will do things better than you would, who will try things that are smartly conceived. You have to get comfortable with people doing things 80 percent the way you would have done them in order to scale a business.” The ability to delegate smartly is critical.

Books. Sure. But mostly I build interest. Attention. Allure. A book is just packaging, just a container. This is what I’ve realized. The mistake people in the book business make is they think their job is to build good containers. Saying you’re in the book business is like a winemaker saying he’s in the bottle business. What we’re actually building is interest. A book is simply one shape that interest can take when we scale and leverage it.

1. Your Business Is Not Unique 2. You Are in the Business of Marketing 3. Be Brand Centric, Not Product Centric 4. You Must Control the Order Process 5. Don’t Compete on Price 6. Don’t Be Walmart. Niche down. 7. There’s No Such Thing as Free Traffic 8. Business Costs Money 9. If You Aren’t Mobile, You’re Out 10. The One Who Can Spend the Most to Acquire a Customer Wins 11. Sell in Multiple Channels 12. There Are Only Three Ways to Grow a Business

Such threats and promises often succeed in creating stable human hierarchies and mass-cooperation networks, as long as people believe that they reflect the inevitable laws of nature or the divine commands of God, rather than just human whims. All large-scale human cooperation is ultimately based on our belief in imagined orders. These are sets of rules that, despite existing only in our imagination, we believe to be as real and inviolable as gravity. ‘If you sacrifice ten bulls to the sky god, the rain will come; if you honour your parents, you will go to heaven; and if you don’t believe what I am telling you – you’ll go to hell.’ As long as all Sapiens living in a particular locality believe in the same stories, they all follow the same rules, making it easy to predict the behaviour of strangers and to organise mass-cooperation networks. Sapiens often use visual marks such as a turban, a beard or a business suit to signal ‘you can trust me, I believe in the same story as you’. Our chimpanzee cousins cannot invent and spread such stories, which is why they cannot cooperate in large numbers.

Some emerging markets will check all the boxes—strong population growth, growing middle class, verge of investment grade, great leadership, and hunger for capital—and then be missing the one ingredient that enables you to monetize your investment: scale. Without scale, you don’t have liquidity. You have no optionality. In essence, you’re stuck. Africa is a great example. I think many countries, such as Botswana, have potential, but the upper and middle classes are too small for me to get involved. Chile is another example. It has the institutions and leadership, but only 17 million people—no scale.

Prince Arctic?” A silvery white dragon poked her head around the door, tapping three times lightly on the ice wall. Arctic couldn’t remember her name, which was the kind of faux pas his mother was always yelling at him about. He was a prince; it was his duty to have all the noble dragons memorized along with their ranks so he could treat them according to exactly where they fit in the hierarchy. It was stupid and frustrating and if his mother yelled at him about it one more time, he would seriously enchant something to freeze her mouth shut forever. Oooo. What a beautiful image. Queen Diamond with a chain of silver circles wound around her snout and frozen to her scales. He closed his eyes and imagined the blissful quiet. The dragon at his door shifted slightly, her claws making little scraping sounds to remind him she was there. What was she waiting for? Permission to give him a message? Or was she waiting for him to say her name — and if he didn’t, would she go scurrying back to the queen to report that he had failed again? Perhaps he should enchant a talisman to whisper in his ear whenever he needed to know something. Another tempting idea, but strictly against the rules of IceWing animus magic. Animus dragons are so rare; appreciate your gift and respect the limits the tribe has set. Never use your power frivolously. Never use it for yourself. This power is extremely dangerous. The tribe’s rules are there to protect you. Only the IceWings have figured out how to use animus magic safely. Save it all for your gifting ceremony. Use it only once in your life, to create a glorious gift to benefit the whole tribe, and then never again; that is the only way to be safe. Arctic shifted his shoulders, feeling stuck inside his scales. Rules, rules, and more rules: that was the IceWing way of life. Every direction he turned, every thought he had, was restricted by rules and limits and judgmental faces, particularly his mother’s. The rules about animus magic were just one more way to keep him trapped under her claws. “What is it?” he barked at the strange dragon. Annoyed face, try that. As if he were very busy and she’d interrupted him and that was why he was skipping the usual politic rituals. He was very busy, actually. The gifting ceremony was only three weeks away. It was bad enough that his mother had dragged him here, to their southernmost palace, near the ocean and the border with the Kingdom of Sand. She’d promised to leave him alone to work while she conducted whatever vital royal business required her presence. Everyone should know better than to disturb him right now. The messenger looked disappointed. Maybe he really was supposed to know who she was. “Your mother sent me to tell you that the NightWing delegation has arrived.” Aaarrrrgh. Not another boring diplomatic meeting.

Adelia began to get cross. Why was it women who were to blame for everything—everything, from the Fall of Man to these blasted hedges? “We are not in a labyrinth, my lord,” she said clearly. “Where are we, then?” “It’s a maze.” “Same difference.” Puffing at the horse: “Get back, you great cow.” “No, it isn’t. A labyrinth has only one path and you merely have to follow it. It’s a symbol of life or, rather, of life and death. Labyrinths twist and turn, but they have a beginning and an end, through darkness into light.” Softening, and hoping that he would, too, she added, “Like Ariadne’s. Rather beautiful, really.” “I don’t want mythology, mistress, beautiful or not, I want to get to that sodding tower. What’s a maze when it’s at home?” “It’s a trick. A trick to confuse. To amaze.” “And I suppose Mistress Clever-boots knows how to get us out?” “I do, actually.” God’s rib, he was sneering at her, sneering. She’d a mind to stay where she was and let him sweat. “Then in the name of Christ, do it.” “Stop bellowing at me,” she yelled at him. “You’re bellowing.” She saw his teeth grit in the pretense of a placatory smile; he always had good teeth. Still did. Between them, he said, “The Bishop of Saint Albans presents his compliments to Mistress Adelia and please to escort him out of this hag’s hole, for the love of God. How will you do it?” “My business.” Be damned if she’d tell him. Women were defenseless enough without revealing their secrets. “I’ll have to take the lead.” She stumped along in front, holding Walt’s mount’s reins in her right hand. In the other was her riding crop, which she trailed with apparent casualness so that it brushed against the hedge on her left. As she went, she chuntered to herself. Lord, how disregarded I am in this damned country. How disregarded all women are. ... Ironically, the lower down the social scale women were, the greater freedom they had; the wives of laborers and craftsmen could work alongside their men—even, sometimes, when they were widowed, take over their husband’s trade. Adelia trudged on. Hag’s hole. Grendel’s mother’s entrails. Why was this dreadful place feminine to the men lost in it? Because it was tunneled? Womb-like? Is this woman’s magic? The great womb? Is that why the Church hates me, hates all women? Because we are the source of all true power? Of life? She supposed that by leading them out of it, she was only confirming that a woman knew its secrets and they did not. Great God, she thought, it isn't a question of hatred. It’s fear. They are frightened of us. And Adelia laughed quietly, sending a suggestion of sound reverberating backward along the tunnel, as if a small pebble was skipping on water, making each man start when it passed him. “What in hell was that?” Walt called back stolidly, “Reckon someone’s laughing at us, master.” “Dear God.

asked him to imagine the following: If I selected an employee of the company at random, from any level or function or region, and that employee had an absolutely brilliant idea that would unlock a dramatic new source of growth for the company, how would he or she get it implemented? Does the company have an automatic process for testing a new idea, to see if it is actually any good? And does the company have the management tools necessary to scale this idea up to maximum impact, even if it doesn’t align with any of the company’s current lines of business? That’s what a modern company does: harnesses the creativity and talent of every single one of its employees. Jeff answered me directly: “That’s what your next book should be about.

What Ethereum Is Good For Ethereum is suited to building economic systems in pure software. In other words, it’s software for business logic, wherein people (users) can move money (data representing value) around with the speed and scale that we normally get with data.12 Not the three- to seven-day floating period you get with the commercial banking system. Or the fees associated with vendors such as Visa, MasterCard, and PayPal. With a simple Ethereum application, for example, it is fairly trivial to pay hundreds of thousands of people, in hundreds of countries, small amounts every few minutes, whereas in the legacy banking system you would need an entire payroll department working overtime to constantly rebalance your account ledgers and deal with the cross-border issues.

Soon after World War II, a tired-looking woman entered a store and asked the owner for enough food to make a Christmas dinner for her children. When he inquired how much she could afford, she answered, “My husband was killed in the war. Truthfully, I have nothing to offer but a little prayer.” The man was not very sentimental, for a grocery store cannot be run like a breadline. So he said, “Write your prayer on a paper.” To his surprise she plucked a little folded note out of her pocket and handed it to him, saying, “I already did that.” As the grocer took the paper, an idea struck him. Without even reading the prayer, he put it on the weight side of his old-fashioned scales, saying, “We shall see how much food this is worth.” To his surprise, the scale would not go down when he put a loaf of bread on the other side. To his even greater astonishment, it would not balance when he added many more items. Finally he blurted out, “Well, that’s all the scales will hold anyway. Here’s a bag. You’ll have to put them in yourself. I’m busy.” With a tearful “thank you,” the lady went happily on her way. The grocer later found that the mechanism of the scales was out of order, but as the years passed, he often wondered if that really was the answer to what had occurred. Why did the woman have the prayer already written to satisfy his unpremeditated demands? Why did she come at exactly the time the mechanism was broken? Frequently he looked at that slip of paper upon which the woman’s prayer was written, for amazingly enough, it read, “Please, dear Lord, give us this day our daily bread!” —Henry Bosch

purposes,’ he insisted. In Suhrawardy’s view, the Muslim League government was not making non-Muslims, especially Hindus, feel safe within Pakistan and questioned the government’s claims to the contrary. ‘Why are the Hindus running away from Sindh [if] they were safe and sound, where they had established business on colossal scales and which they made their homes?’ he asked, pointing to the deep cultural ties of Sindhi Hindus to Sindh. According to Suhrawardy, the rhetoric of an Islamic state was responsible for causing insecurity among non-Muslims. ‘The Pakistan State, if it is to be maintained, must be maintained by the goodwill of Pakistanis of all people, Muslims or non-Muslims whom you consider to be your nationals,’ he stressed. The minorities could not depend ‘merely on the goodwill of the Muslims or on their authority or their strength’.48

Hello, Gwyn,' he said warmly. 'Good to see you again.' Gwyn blushed, shaking herself out of her stupor and bowed low. 'My lord.' Nesta rolled her eyes, and found Rhys watching her. That casual smile sharpened as he met her stare. 'Nesta.' 'Rhysand.' The other two women were glancing between them, the bouncing of their stares almost comical. Cassian just strode to Nesta's side and slung an arm around her shoulders before drawling to Rhys, 'These ladies are going to hand your ass to you in combat soon enough.' Nesta made to step out from under the heavy, sweaty weight of his arm, but Cassian clamped a too-friendly hand on her shoulder, his grin unfaltering. Rhys's gaze slid between them, little warmth to be found in his eyes. But plenty of wariness. Little princeling didn't like her with his friend. Nesta leaned into Cassian. Not much, but enough for a trained warrior like Rhysand to note. A dark, silken hand brushed inside her mind. A request. She debated ignoring it, but found herself opening a small door through the steel, spiked barrier she kept around herself day and night. The door was essentially a peephole, and she allowed what she supposed was the equivalent of her mental face to peer through it to the dark, sparkling plane beyond. What? You are to treat Gwyn with kindness and respect. The thing that stood beyond the fortress of her mind was a creature of claws, scales and teeth. It was veiled from sight beneath writhing shadows and the occasional passing star glinting in the darkness, but every now and then, a glimpse of a wing or talon shone. Mind your own business. Nesta slammed the small viewing hole shut. She blinked, slowly registering Emerie asking Cassian about tomorrow morning's lesson, and what she'd miss today by leaving an hour early. Rhysand's eyes glimmered. Cassian's arm remained around Nesta, and his thumb moved over her shoulder in an idle, reassuring caress. Whether he knew of or sensed her silent conversation with his High Lord, he didn't let on.

Hey, did you hear about Brad Miller?" he asked, already forgetting about the Lissie conversation. "He got his car taken away for getting another speeding ticket. Of course he tried to tell his parents that it was a setup." Violet laughed. "Yeah, because the police have nothing better to do than to plan a sting operation targeting eleventh-grade idiots." She was more than willing to go along with this diversion from conversations about Jay and his many admirers. Jay laughed too, shaking his head. "You're so cold-hearted," he said to Violet, shoving her a little but playing along. "How's he supposed to go cruising for unsuspecting freshman and sophomores without a car? What willing girl is going to ride on the handlebars of his ten-speed?" "I don't see you driving anything but your mom's car yet. At least he has a bike," she said, turning on him now. He pushed her again. "Hey!" he tried to defend himself. "I'm still saving! Not all of us are born with a silver spoon in our mouths." They were both laughing, hard now. The silver spoon joke had been used before, whenever one of them had something the other one didn't. "Right!" Violet protested. "Have you seen my car?" This time she shoved him, and a full-scale war broke out on the couch. "Poor little rich girl!" Jay accused, grabbing her arm and pulling her down. She giggled and tried to give him the dreaded "dead leg" by hitting him with her knuckle in the thigh. But he was too strong, and what used to be a fairly even matchup was now more like an annihilation of Violet's side. "Oh, yeah. Weren't you the one"-she gasped, still giggling and thrashing to break free from his suddenly way-too-strong grip on her, just as his hand was almost at the sensitive spot along the side of her rib cage-"who got to go to Hawaii..." She bucked beneath him, trying to knock him off her. "...For spring break...last..." And then he started to tickle her while she was pinned beneath him, and her last word came out in a scream: "...YEAR?!" That was how her aunt and uncle found them. Violet never heard the key in the dead bolt, or the sound of the door opening up. And Jay was just as ignorant of their arrival as she was. So when they were caught like that, in a mass of tangled limbs, with Jay's face just inches from hers, as she giggled and squirmed against him, it should have meant they were going to get in trouble. And if it had been any other teenage boy and girl, they would have. But it wasn't another couple. It was Violet and Jay...and this was business as usual for the two of them. Even her aunt and uncle knew that there was no possibility they were doing anything they shouldn't. The only reprimand they got was her aunt shushing them to keep it down before they woke the kids. After Jay left, Violet took the thirty dollars that her uncle gave her and headed out. As she drove home, she tried to ignore the feelings of frustration she had about the way her aunt and uncle had reacted-or rather hadn't reaction-to finding her and Jay together on the couch. For some reason it made her feel worse to know that even the grown-ups around them didn't think there was a chance they could ever be a real couple.

ONCE, a youth went to see a wise man, and said to him: “I have come seeking advice, for I am tormented by feelings of worthlessness and no longer wish to live. Everyone tells me that I am a failure and a fool. I beg you, Master, help me!” The wise man glanced at the youth, and answered hurriedly: “Forgive me, but I am very busy right now and cannot help you. There is one urgent matter in particular which I need to attend to...”—and here he stopped, for a moment, thinking, then added: “But if you agree to help me, I will happily return the favor.” “Of...of course, Master!” muttered the youth, noting bitterly that yet again his concerns had been dismissed as unimportant. “Good,” said the wise man, and took off a small ring with a beautiful gem from his finger. “Take my horse and go to the market square! I urgently need to sell this ring in order to pay off a debt. Try to get a decent price for it, and do not settle for anything less than one gold coin! Go right now, and come back as quick as you can!” The youth took the ring and galloped off. When he arrived at the market square, he showed it to the various traders, who at first examined it with close interest. But no sooner had they heard that it would sell only in exchange for gold than they completely lost interest. Some of the traders laughed openly at the boy; others simply turned away. Only one aged merchant was decent enough to explain to him that a gold coin was too high a price to pay for such a ring, and that he was more likely to be offered only copper, or at best, possibly silver. When he heard these words, the youth became very upset, for he remembered the old man’s instruction not to accept anything less than gold. Having already gone through the whole market looking for a buyer among hundreds of people, he saddled the horse and set off. Feeling thoroughly depressed by his failure, he returned to see the wise man. “Master, I was unable to carry out your request,” he said. “At best I would have been able to get a couple of silver coins, but you told me not to agree to anything less than gold! But they told me that this ring is not worth that much.” “That’s a very important point, my boy!” the wise man responded. “Before trying to sell a ring, it would not be a bad idea to establish how valuable it really is! And who can do that better than a jeweler? Ride over to him and find out what his price is. Only do not sell it to him, regardless of what he offers you! Instead, come back to me straightaway.” The young man once more leapt up on to the horse and set off to see the jeweler. The latter examined the ring through a magnifying glass for a long time, then weighed it on a set of tiny scales. Finally, he turned to the youth and said: “Tell your master that right now I cannot give him more than 58 gold coins for it. But if he gives me some time, I will buy the ring for 70.” “70 gold coins?!” exclaimed the youth. He laughed, thanked the jeweler and rushed back at full speed to the wise man. When the latter heard the story from the now animated youth, he told him: “Remember, my boy, that you are like this ring. Precious, and unique! And only a real expert can appreciate your true value. So why are you wasting your time wandering through the market and heeding the opinion of any old fool?

What’s the best thing you’ve done in your work and career? In business decision-making, certainly one of your highlights was licensing your computer operating system to IBM for almost no money, provided you could retain the right to license the system to other computer manufacturers as well. IBM was happy to agree because, after all, nobody would possibly want to compete with the most powerful company in the world, right? With that one decision, your system and your company became dominant throughout the world, and you, Bill Gates, were on your way to a net worth of more than $60 billion. Or maybe you’d like to look at your greatest career achievement from a different angle. Instead of focusing on the decision that helped you make so much money, maybe you’d like to look at the decision to give so much of it away. After all, no other person in history has become a philanthropist on the scale of Bill Gates. Nations in Africa and Asia are receiving billions of dollars in medical and educational support. This may not be as well publicized as your big house on Lake Washington with its digitalized works of art, but it’s certainly something to be proud of. Determining your greatest career achievement is a personal decision. It can be something obvious or something subtle. But it should make you proud of yourself when you think of it. So take a moment, then make your choice.

I dreamt of a City to the West of here,” Dixon tries to recall, scrying in his Coffee-Mug, the wind blowing Wood-smoke in his eyes, “at some great Confluence of Rivers, or upon a Harbor in some inland Sea,— a large City,— busy, prospering, sacred.” “A Sylvan Philadelphia. . . .” “Well . . . well yes, now tha put it thah’ way,— ” “I hope you are prepar’d for the possibility, that waking Philadelphia is as sacred as anything over here will ever get, Dixon,— observe you not, as we move West, more and more of those Forces, which Cities upon Coasts have learn’d to push away, and leave to Back Inhabitants,— the Lightning, the Winter, an Indifference to Pain, not to mention Fire, Blood, and so forth, all measur’d upon a Scale far from Philadelphian,— whereunto we, and our Royal Commission, and our battery of costly Instruments, are but Fleas in the Flea Circus. We trespass, each day ever more deeply, into a world of less restraint in ev’rything,— no law, no convergence upon any idea of how life is to be,— an Interior that grows meanwhile ever more forested, more savage and perilous, until,— perhaps at the very Longitude of your ‘City,’— we must reach at last an Anti-City,— some concentration of Fate,— some final condition of Abandonment,— wherein all are unredeemably alone and at Hazard as deep as their souls may bear,— lost Creatures that make the very Seneca seem Christian and merciful.

I dreamt of a City to the West of here,” Dixon tries to recall, scrying in his Coffee-Mug, the wind blowing Wood-smoke in his eyes, “at some great Confluence of Rivers, or upon a Harbor in some inland Sea,— a large City,— busy, prospering, sacred.” “A Sylvan Philadelphia. . . .” “Well . . . well yes, now tha put it thah’ way,— ” “I hope you are prepar’d for the possibility, that waking Philadelphia is as sacred as anything over here will ever get, Dixon,— observe you not, as we move West, more and more of those Forces, which Cities upon Coasts have learn’d to push away, and leave to Back Inhabitants,— the Lightning, the Winter, an Indifference to Pain, not to mention Fire, Blood, and so forth, all measur’d upon a Scale far from Philadelphian,— whereunto we, and our Royal Commission, and our battery of costly Instruments, are but Fleas in the Flea Circus. We trespass, each day ever more deeply, into a world of less restraint in ev’rything,— no law, no convergence upon any idea of how life is to be,— an Interior that grows meanwhile ever more forested, more savage and perilous, until,— perhaps at the very Longitude of your ‘City,’— we must reach at last an Anti-City,— some concentration of Fate,— some final condition of Abandonment,— wherein all are unredeemably alone and at Hazard as deep as their souls may bear,— lost Creatures that make the very Seneca seem Christian and merciful.” “Eeh, chirpy today . . . ?

Years ago, a friend gave me the best business advice I’ve ever received. His advice was so concise it rang in my head like a bell for the next five years. Bill had scaled his father’s company into the billions and with that money bought and sold several more companies that succeeded as well. Bill knew what it took to run a business, and he knew what it took to grow one. We were standing in my driveway after having talked for an hour or so. We’d talked about where my business was and where it could go. The future was limitless, yet I could tell there was something Bill didn’t want to say. He’d been nothing but encouraging in the years I’d known him, but this time it was obvious he had some constructive criticism. I asked point blank what he was thinking. He stood silently for a moment, measuring his thoughts. “Don,” he finally said, lowering his head and taking off his glasses. “You need to professionalize your operation.” “That’s your problem.” He continued. “Until you professionalize your operation, its potential is limited. The amount of money you make and your ability to have a positive impact on the world will be limited.” I’d never heard the term “professionalize your operation” before, but it rang true. My business revolved too much around me, and nobody (including me) knew exactly what they were supposed to do to make it grow. We had a vision, for sure, but we’d not built the reliable, predictable systems that would allow us to execute that vision.

Heuristics for testing your goals Assess your goals using these guidelines: Does your goal start with a verb (“launch,” “build,” “refactor,” etc.)? Then you probably have an action, so reframe it to describe the outcome you want. Often, this takes the form of translating “X so that Y” into “Y via X” (and consider if you need X in there at all). A helpful trick to figure out the proper framing is to read the goal out, ask yourself why, answer that question, then do that a couple of times until the true goal comes into focus. (See Table 2 for an example.) Do you have “engineering goals” and “business goals,” or something similar? Stop it. Are your goals more than one page, more than three to five objectives, or more than three to five KRs per objective? No one will read them—let alone remember them. When you (or your team) look at your goals, do you wince and think, “What about X? I was really hoping to get to that this quarter”? If not, you probably haven’t focused enough, and your goals are not adding value. Could one team member think a goal is achieved and another one completely disagree? Then your goal isn’t specific enough. (By contrast, if everyone feels it’s mostly successful but the assessments range from 60–80 percent done, who cares?) Can you imagine a scenario where the goal is achieved but you’re still dissatisfied with where you ended up? Then your goal isn’t specific enough, or an aspect is missing. Could you be successful without achieving the goal? Then your goal is overly specific, and you should rethink how to define success.

Moore’s Law, the rule of thumb in the technology industry, tells us that processor chips—the small circuit boards that form the backbone of every computing device—double in speed every eighteen months. That means a computer in 2025 will be sixty-four times faster than it is in 2013. Another predictive law, this one of photonics (regarding the transmission of information), tells us that the amount of data coming out of fiber-optic cables, the fastest form of connectivity, doubles roughly every nine months. Even if these laws have natural limits, the promise of exponential growth unleashes possibilities in graphics and virtual reality that will make the online experience as real as real life, or perhaps even better. Imagine having the holodeck from the world of Star Trek, which was a fully immersive virtual-reality environment for those aboard a ship, but this one is able to both project a beach landscape and re-create a famous Elvis Presley performance in front of your eyes. Indeed, the next moments in our technological evolution promise to turn a host of popular science-fiction concepts into science facts: driverless cars, thought-controlled robotic motion, artificial intelligence (AI) and fully integrated augmented reality, which promises a visual overlay of digital information onto our physical environment. Such developments will join with and enhance elements of our natural world. This is our future, and these remarkable things are already beginning to take shape. That is what makes working in the technology industry so exciting today. It’s not just because we have a chance to invent and build amazing new devices or because of the scale of technological and intellectual challenges we will try to conquer; it’s because of what these developments will mean for the world.

Here’s some startup pedagogy for you: When confronted with any startup idea, ask yourself one simple question: How many miracles have to happen for this to succeed? If the answer is zero, you’re not looking at a startup, you’re just dealing with a regular business like a laundry or a trucking business. All you need is capital and minimal execution, and assuming a two-way market, you’ll make some profit. To be a startup, miracles need to happen. But a precise number of miracles. Most successful startups depend on one miracle only. For Airbnb, it was getting people to let strangers into their spare bedrooms and weekend cottages. This was a user-behavior miracle. For Google, it was creating an exponentially better search service than anything that had existed to date. This was a technical miracle. For Uber or Instacart, it was getting people to book and pay for real-world services via websites or phones. This was a consumer-workflow miracle. For Slack, it was getting people to work like they formerly chatted with their girlfriends. This is a business-workflow miracle. For the makers of most consumer apps (e.g., Instagram), the miracle was quite simple: getting users to use your app, and then to realize the financial value of your particular twist on a human brain interacting with keyboard or touchscreen. That was Facebook’s miracle, getting every college student in America to use its platform during its early years. While there was much technical know-how required in scaling it—and had they fucked that up it would have killed them—that’s not why it succeeded. The uniqueness and complete fickleness of such a miracle are what make investing in consumer-facing apps such a lottery. It really is a user-growth roulette wheel with razor-thin odds. The classic sign of a shitty startup idea is that it requires at least two (or more!) miracles to succeed. This was what was wrong with ours. We had a Bible’s worth of miracles to perform:

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.

But here’s the dilemma: Why is “how-to” so alluring when, truthfully, we already know “how to” yet we’re still standing in the same place longing for more joy, connection, and meaning? Most everyone reading this book knows how to eat healthy. I can tell you the Weight Watcher points for every food in the grocery store. I can recite the South Beach Phase I grocery shopping list and the glycemic index like they’re the Pledge of Allegiance. We know how to eat healthy. We also know how to make good choices with our money. We know how to take care of our emotional needs. We know all of this, yet … We are the most obese, medicated, addicted, and in-debt Americans EVER. Why? We have more access to information, more books, and more good science—why are we struggling like never before? Because we don’t talk about the things that get in the way of doing what we know is best for us, our children, our families, our organizations, and our communities. I can know everything there is to know about eating healthy, but if it’s one of those days when Ellen is struggling with a school project and Charlie’s home sick from school and I’m trying to make a writing deadline and Homeland Security increased the threat level and our grass is dying and my jeans don’t fit and the economy is tanking and the Internet is down and we’re out of poop bags for the dog—forget it! All I want to do is snuff out the sizzling anxiety with a pumpkin muffin, a bag of chips, and chocolate. We don’t talk about what keeps us eating until we’re sick, busy beyond human scale, desperate to numb and take the edge off, and full of so much anxiety and self-doubt that we can’t act on what we know is best for us. We don’t talk about the hustle for worthiness that’s become such a part of our lives that we don’t even realize that we’re dancing. When I’m having one of those days that I just described, some of the anxiety is just a part of living, but there are days when most of my anxiety grows out of the expectations I put on myself. I want Ellen’s project to be amazing. I want to take care of Charlie without worrying about my own deadlines. I want to show the world how great I am at balancing my family and career. I want our yard to look beautiful. I want people to see us picking up our dog’s poop in biodegradable bags and think, My God! They are such outstanding citizens. There are days when I can fight the urge to be everything to everyone, and there are days when it gets the best of me.

The Ten Ways to Evaluate a Market provide a back-of-the-napkin method you can use to identify the attractiveness of any potential market. Rate each of the ten factors below on a scale of 0 to 10, where 0 is terrible and 10 fantastic. When in doubt, be conservative in your estimate: Urgency. How badly do people want or need this right now? (Renting an old movie is low urgency; seeing the first showing of a new movie on opening night is high urgency, since it only happens once.) Market Size. How many people are purchasing things like this? (The market for underwater basket-weaving courses is very small; the market for cancer cures is massive.) Pricing Potential. What is the highest price a typical purchaser would be willing to spend for a solution? (Lollipops sell for $0.05; aircraft carriers sell for billions.) Cost of Customer Acquisition. How easy is it to acquire a new customer? On average, how much will it cost to generate a sale, in both money and effort? (Restaurants built on high-traffic interstate highways spend little to bring in new customers. Government contractors can spend millions landing major procurement deals.) Cost of Value Delivery. How much will it cost to create and deliver the value offered, in both money and effort? (Delivering files via the internet is almost free; inventing a product and building a factory costs millions.) Uniqueness of Offer. How unique is your offer versus competing offerings in the market, and how easy is it for potential competitors to copy you? (There are many hair salons but very few companies that offer private space travel.) Speed to Market. How soon can you create something to sell? (You can offer to mow a neighbor’s lawn in minutes; opening a bank can take years.) Up-front Investment. How much will you have to invest before you’re ready to sell? (To be a housekeeper, all you need is a set of inexpensive cleaning products. To mine for gold, you need millions to purchase land and excavating equipment.) Upsell Potential. Are there related secondary offers that you could also present to purchasing customers? (Customers who purchase razors need shaving cream and extra blades as well; buy a Frisbee and you won’t need another unless you lose it.) Evergreen Potential. Once the initial offer has been created, how much additional work will you have to put in in order to continue selling? (Business consulting requires ongoing work to get paid; a book can be produced once and then sold over and over as is.) When you’re done with your assessment, add up the score. If the score is 50 or below, move on to another idea—there are better places to invest your energy and resources. If the score is 75 or above, you have a very promising idea—full speed ahead. Anything between 50 and 75 has the potential to pay the bills but won’t be a home run without a huge investment of energy and resources.

Harvard Business School professor and author Clay Christensen believes that you need to focus on the concept of the “job-to-be-done”; that is, when a customer buys a product, she is “hiring” it to do a particular job. Then there’s Brian Chesky of Airbnb, who said simply, “Build a product people love. Hire amazing people. What else is there to do? Everything else is fake work.” As Andrea Ovans aptly put it in her January 2015 Harvard Business Review article, “What Is a Business Model?”, it’s enough to make your head swim! For the purposes of this book, we’ll focus on the basic definition: a company’s business model describes how it generates financial returns by producing, selling, and supporting its products. What sets companies like Amazon, Google, and Facebook apart, even from other successful high-tech companies, is that they have consistently been able to design and execute business models with characteristics that allow them to quickly achieve massive scale and sustainable competitive advantage. Of course, there isn’t a single perfect business model that works for every company, and trying to find one is a waste of time. But most great business models have certain characteristics in common. If you want to find your best business model, you should try to design one that maximizes four key growth factors and minimizes two key growth limiters.

A company’s revenue engine is a critical success factor. I had seen from my own direct experience how easy it was to get caught in silos: marketing people would just think of marketing, salespeople would just think of sales, and accounting wouldn’t think of itself as part of the revenue engine at all. Furthermore, product and the revenue engine were too often thought of completely independent of each other. The need for a more integrated approach was on my mind from the beginning. The revenue engine is a whole system. It encompasses a diverse set of integrated components, each doing its part to advance the system’s purpose. The engine is not just comprised of marketing and sales— it includes product, accounting, and the underlying technology and data infrastructure required to keep everything flowing. It involves people, tools, workflow, and metrics. Its purpose is to optimize reach, conversion, and expansion of customer spend. I call my revenue engine model “the bowtie schema.” It was the product of continuous iteration. As I interacted with marketing and sales practitioners and waded through the research, the model slowly emerged. The final model conveys not just the product and customer journey across the bowtie, but also the foundational layers that support that journey-- the interaction between people tools, workflow, and metrics that make it all happen. The most basic question a CEO must answer is whether the product has achieved a value breakthrough. Without that, the revenue engine is irrelevant. Once product-market fit is confirmed, the next step is to clearly identify your ideal customer profile (ICP) and your business model. This includes the lifetime value (LTV) profile of your company. Assuming a strong product, a clear ICP, and a solid understanding of the constraints composed by your unit economics, the path forward is clear. Then, the focus will turn to uplifting the maturity of your revenue engine and scaling it efficiently.

The most basic question a CEO must answer is whether the product has achieved a value breakthrough. Without that, the revenue engine is irrelevant. Once product-market fit is confirmed, the next step is to clearly identify your ideal customer profile (ICP) and your business model. This includes the lifetime value (LTV) profile of your company. Assuming a strong product, a clear ICP, and a solid understanding of the constraints composed by your unit economics, the path forward is clear. Then, the focus will turn to uplifting the maturity of your revenue engine and scaling it efficiently.

So what’s his secret? Musk has a few, but none are more important to him than passion and purpose. “I didn’t go into the rocket business, the car business, or the solar business thinking this is a great opportunity. I just thought, in order to make a difference, something needed to be done. I wanted to have an impact. I wanted to create something substantially better than what came before.” Musk, like every entrepreneur in this chapter, is driven by passion and purpose. Why? Passion and purpose scale—always have, always will. Every movement, every revolution, is proof of this fact. Plus, doing anything big and bold is difficult, and at two in the morning for the fifth night in a row, when you need to keep going, you’re only going to fuel yourself from deep within. You’re not going to push ahead when it’s someone else’s mission. It needs to be yours.

The scaling curve applies to every blitzscaler, regardless of industry or geography. The same multiple S-curve graph that describes Facebook or Apple also describes Tencent, which launched with QQ, then added a second curve for WeChat after QQ reached maturity in 2010. Just when you’ve finished blitzscaling one business line, you need to blitzscale the next to maintain your company’s upward trajectory. And as blitzscaling continues to spread, established companies with mature business lines should consider turning to intrapreneurs to blitzscale new business units.

Back in 1990, the futurist George Gilder demonstrated his prescience when he wrote in his book Microcosm, “The central event of the twentieth century is the overthrow of matter. In technology, economics, and the politics of nations, wealth in the form of physical resources is steadily declining in value and significance. The powers of mind are everywhere ascendant over the brute force of things.” Just over twenty years later, in 2011, the venture capitalist (and Netscape cofounder) Marc Andreessen validated Gilder’s thesis in his Wall Street Journal op-ed “Why Software Is Eating the World.” Andreessen pointed out that the world’s largest bookstore (Amazon), video provider (Netflix), recruiter (LinkedIn), and music companies (Apple/ Spotify/ Pandora) were software companies, and that even “old economy” stalwarts like Walmart and FedEx used software (rather than “things”) to drive their businesses. Despite—or perhaps because of—the growing dominance of bits, the power of software has also made it easier to scale up atom-based businesses as well. Amazon’s retail business is heavily based in atoms—just think of all those Amazon shipping boxes piled up in your recycling bin! Amazon originally outsourced its logistics to Ingram Book Company, but its heavy investment in inventory management systems and warehouses as it grew turned infrastructure

It was time to scale and that would probably one of my most important advices to you: You can’t handle everything yourself. Perhaps when you start out and you have zero budgets but at some point you need to take earnings and put them into outsourcing tasks or hiring people. Because you as the founder or owner you are responsible for the direction of your company/blog etc. and you should focus on the future of the business and not handle every day things or troubleshooting. I too thought only I can do what I do, no one else can do it. I was so wrong. I hired staff and outsourced tasks that took too much time and all of a sudden I had freed up so much time to focus what is most important for company – the future direction. Admittedly it was hard in the beginning to teach my tasks to outsourced staff but after a few hiccups I was all set and ready to scale more.

Involvement is not an act, it is a certain willingness towards life – you have become willing to the process of life. If you get identified, you are becoming unwilling to the process of life – you are only willing in selection, you are not willing with the rest of life. It is this unwillingness which is scaling down the aliveness in a human being.

In the industrial age, scale is the result of what a firm does by itself using the assets that it controls and the units it produces. In the digital world, scale is the result of what it may produce by itself plus what it can achieve with its partners in the ecosystem. Tap into the scale advantage conferred by your ecosystems. Just like scale, scope advantage in the digital world comes through being part of an ecosystem.

If you’re building for network effects, you’re not building mere software anymore. Platforms that shift the design process from a technology-first to an interaction-first approach will win.

Finally, every society develops a system of aesthetic standards that get manifested in everything from decorative art, music, and dance to the architecture and planning of buildings and communities. There are many different ways we could examine artistic systems. One way of thinking about it is to observe the degree to which a society's aesthetics reflect clear lines and solid boundaries versus fluid ones. Many Western cultures favor clean, tight boundaries whereas many Eastern cultures prefer more fluid, indiscriminate lines. In most Western homes, kitchen drawers are organized so that forks are with forks and knives are with knives. The walls of a room are usually uniform in color, and when a creative shift in color does occur, it usually happens at a corner or along a straight line midway down the wall. Pictures are framed with straight edges, molding covers up seams in the wall, and lawns are edged to form a clear line between the sidewalk and the lawn. Why? Because we view life in terms of classifications, categories, and taxonomies. And cleanliness itself is largely defined by the degree of order that exists. It has little to do with sanitation and far more to do with whether things appear to be in their proper place. Maintaining boundaries is essential in the Western world; otherwise categories begin to disintegrate and chaos sets in.13 Most Americans want dandelion-free lawns and roads with clear lanes prescribing where to drive and where not to drive. Men wear ties to cover the adjoining fabric on the shirts that they put on before going to the symphony, where they listen to classical music based on a scale with seven notes and five half steps. Each note has a fixed pitch, defined in terms of the lengths of the sound waves it produces.14 A good performance occurs when the musicians hit the notes precisely. In contrast, many Eastern cultures have little concern in everyday life for sharp boundaries and uniform categories. Different colors of paint may be used at various places on the same wall. And the paint may well “spill” over onto the window glass and ceiling. Meals are a fascinating array of ingredients where food is best enjoyed when mixed together on your plate. Roads and driving patterns are flexible. The lanes ebb and flow as needed depending on the volume of traffic. In a place like Cambodia or Nigeria, the road space is available for whichever direction a vehicle needs it most, whatever the time of day. And people often meander along the road in their vehicles the same way they walk along a path. There are many other ways aesthetics between one place and another could be contrasted. But the important point is some basic understanding of how cultures differ within the realm of aesthetics. Soak in the local art of a place and chalk it up to informing your strategy for international business.

Scale yourself. Go beyond what you can do and what you know. Look at your content machine and make it work nonstop, seamlessly, and at scale with or without you.

Email 1 : A special announcement to introduce the product. Use your best hook or angle on what the product does for the prospect and give them a link to the purchase page. If you’re doing some kind of discount or special offer (such as free shipping), announce that in this email as well. Email 2 : I call this the “what people are saying” or social proof email. People want to know that they're not the only ones buying the product, so put reviews or testimonials for your product in the email and say, “Look what Mary said when she got the product!” Email 3 : The last chance email. Throw in some scarcity. Tell your prospect that the special price or free shipping expires tonight, you’re running out of stock, or whatever type of scarcity you are using. When I do a promotion, I offer the discount with a time limit of around 72 hours.

But prioritizing speed over efficiency—even in the face of uncertainty—is especially important when your business model depends on having lots of members and getting feedback from them. If you get in early and start getting that feedback and your competitors don’t, then you’re on the path to success. In any business where scale really matters, getting in early and doing it fast can make the difference.

State wants the alleged techniques, presumably.” “I’ve been wondering about that,” Norman said. “I wonder if we do want them.” “How do you mean?” “It’s a bit difficult to explain … Look, have you been following television at all since you came home?” “Occasionally, but since the Yatakang news broke I’ve been much too busy to catch more than an occasional news bulletin.” “So have I, but—well, I guess I’m more familiar with the way trends get started here nowadays, so I can extrapolate from the couple or three programmes I have had time for.” Norman’s gaze moved over Elihu’s head to the far corner of the room. “Engrelay Satelserv blankets most of Africa, doesn’t it?” “The whole continent, I’d say. There are English-speaking people in every country on Earth nowadays, except possibly for China.” “So you’re acquainted with Mr. and Mrs. Everywhere?” “Yes, of course—these two who always appear in station identification slots, doing exotic and romantic things.” “Did you have a personalised set at any time, with your own identity matted into the Everywhere image?” “Lord, no! It costs—what? About five thousand bucks, isn’t it?” “About that. I haven’t got one either; the basic fee is for couple service, and being a bachelor I’ve never bothered. I just have the standard brownnose identity on my set.” He hesitated. “And—to be absolutely frank—a Scandahoovian one for the shiggy half of the pair. But I’ve watched friends’ sets plenty of times where they had the full service, and I tell you it’s eerie. There’s something absolutely unique and indescribable about seeing your own face and hearing your own voice, matted into the basic signal. There you are wearing clothes you’ve never owned, doing things you’ve never done in places you’ve never been, and it has the immediacy of real life because nowadays television is the real world. You catch? We’re aware of the scale of the planet, so we don’t accept that our own circumscribed horizons constitute reality. Much more real is what’s relayed to us by the TV.” “I can well understand that,” Elihu nodded. “And of course I’ve seen this on other people’s sets too. Also I agree entirely about what we regard as real. But I thought we were talking about the Yatakangi claim?” “I still am,” Norman said. “Do you have a homimage attachment on your set? No, obviously not. I do. This does the same thing except with your environment; when they—let’s see … Ah yes! When they put up something like the splitscreen cuts they use to introduce SCANALYZER, one of the cuts is always what they call the ‘digging’ cut, and shows Mr. and Mrs. Everywhere sitting in your home wearing your faces watching the same programme you’re about to watch. You know this one?” “I don’t think they have this service in Africa yet,” Elihu said. “I know the bit you mean, but it always shows a sort of idealised dream-home full of luxy gadgetry.” “That used to be what they did here,” Norman said. “Only nowadays practically every American home is full of luxy gadgetry. You know Chad’s definition of the New Poor? People who are too far behind with time-payments on next year’s model to make the down-payment on the one for the year after?” Elihu chuckled, then grew grave. “That’s too nearly literal to be funny,” he said. “Prophet’s beard, it certainly is! I found time to look over some of Chad’s books after Guinevere’s party, and … Well, having met him I was inclined to think he was a conceited blowhard, but now I think he’s entitled to every scrap of vanity he likes to put on.

How Fast Can Your Company Afford to Grow?” a Harvard Business Review article by Neil C. Churchill and John W. Mullins.

Some areas of opportunity: •   First, stop saying, “Well, this is just the way it is in our industry.” •   Have your available cash reported DAILY, with a short explanation of why it changed in the last 24 hours, and chart it against accounts receivable (AR) and accounts payable (AP) weekly. You’ll learn so much more about your business when you see how the cash is flowing on a daily basis. •   If you want to be paid sooner, ask. Small firms are finding that large companies (and governments!!) will pay considerably faster or even prepay if they simply ask, ask, ask, ask, and ask some more. •   Give value back to customers who pay on time or in advance. •   Get your invoices out more quickly. Hire one more person in accounting to do nothing but make sure invoicing is timely and follow up on payments. •   Send friendly reminders five days before the deadline that payments are due. Many customers are disorganized and will appreciate the reminders, resulting in faster payment. •   If invoices are recurring, obtain recurring credit card authorization from your customers to automate on-time payments. •   Understand why your clients are paying late. They might be unhappy with your product or service. Or perhaps an invoice has recurring mistakes, or it is not structured to flow through the customer’s automated invoicing system. •   Understand each customer’s payment cycles, and time your billings to coincide. •   Pay many of your own expenses with a credit card so you can play the float. Get your own customers to pay by credit card, so they can pay you quickly even if their cash flow is slow. •   Help your customers improve their cash flow so they can pay you on time. Offer them leasing options, for instance. •   Shorten cycles for delivery of your product or service. All of you have some kind of “work in progress.” The faster you complete projects, the faster you get paid. •   Offer a product or service so valuable that you have some leverage with your customers to get them to pay sooner. • Remember, improving margins and profit improves cash.

Have your CFO give you a cash report every day, like Verne’s does. The CFO should summarize the sources and amounts of cash that came in and out of the business during the last 24 hours, along with anticipated cash flow for the coming month. It keeps cash top-of-mind and allows you to react quickly — within days vs. months — if it’s heading in the wrong direction. Observing the sources of cash flowing in and out on a daily basis also gives real insight into your business’s financial model.

Completing Your Cash Acceleration Strategies (CASh) Tool 1.   Read the Harvard Business Review article by Neil C. Churchill and John W. Mullins titled “How Fast Can Your Company Afford to Grow?” 2. Calculate your existing CCC in days. 3.   Calculate the amount of cash required to fund each additional day of CCC. 4.   Brainstorm ways to improve your CCC and the 7 financial levers highlighted in the last chapter of this “Cash” section using the one-page CASh tool. Be sure to explore ways in all three general categories — shortening cycle times, eliminating mistakes, and changing the business model — for each segment of the CCC. 5.   Choose one cash-improvement initiative every 90 days as one of your quarterly priorities (Rocks).

But being short something where your loss is unlimited is quite different than being long something that you’ve already paid for. And it’s tempting. You see way more stocks that are dramatically overvalued in your career than you will see stocks that are dramatically undervalued. I mean there — it’s the nature of securities markets to occasionally promote various things to the sky, so that securities will frequently sell for 5 or 10 times what they’re worth, and they will very, very seldom sell for 20 percent or 10 percent of what they’re worth. So, therefore, you see these much greater discrepancies between price and value on the overvaluation side. So you might think it’s easier to make money on short selling. And all I can say is, it hasn’t been for me. I don’t think it’s been for Charlie. It is a very, very tough business because of the fact that you face unlimited losses, and because of the fact that people that have overvalued stocks — very overvalued stocks — are frequently on some scale between promoter and crook. And that’s why they get there. And once there — And they also know how to use that very valuation to bootstrap value into the business, because if you have a stock that’s selling at 100 that’s worth 10, obviously it’s to your interest to go out and issue a whole lot of shares. And if you do that, when you get all through, the value can be 50. In fact, there’s a lot of chain letter-type stock promotions that are sort of based on the implicit assumption that the management will keep doing that. And if they do it once and build it to 50 by issuing a lot of shares at 100 when it’s worth 10, now the value is 50 and people say, “Well, these guys are so good at that. Let’s pay 200 for it or 300,” and then they could do it again and so on. It’s not usually that — quite that clear in their minds. But that’s the basic principle underlying a lot of stock promotions. And if you get caught up in one of those that is successful, you know, you can run out of money before the promoter runs out of ideas. In the end, they almost always work. I mean, I would say that, of the things that we have felt like shorting over the years, the batting average is very high in terms of eventual — that they would work out very well eventually if you held them through. But it is very painful and it’s — in my experience, it was a whole lot easier to make money on the long side.

If you want to scale your culture, if you want to make the journey from great company to enduring great company, you must invest in building a pipeline of the right unit leaders.

Just 20 per cent of the systems you create will provide 80 per cent of your efficiency wins.

How to Quantify Achievement Stories When hiring managers, recruiters, and staffing firms see a resume or LinkedIn profile or attend an interview with verbiage but no numbers, they don’t know what those words mean. In fact, they know next to nothing until you add the numbers that explain the impact of your work. Here’s how you can resolve this issue. Work With Finance Sometimes the impact of our work is not always clear. At times like this, reaching out to one of your friends in the Finance Department can be very helpful. Finance has access to numbers that are not always readily available to other departments. If you’re no longer with the company, explain to the Finance associate that the numbers he provides could make the difference in determining whether you land another position. Using a Range Per Lily Zhang of the Muse, one reason job seekers avoid quantifying is not knowing the exact number. Lily suggests using a range. Using my work experience, here’s what that means: Before: Chaired weekly product manager meeting. After: Chaired weekly meeting with 7 to 12 product managers so plans could be discussed and coordinated. Confusion and rework were eliminated. Frequency Lily shared that one of the easiest ways to add numbers is to identify the frequency with which you perform a given task. This can help the hiring manager understand how much you can handle. For example: Before: Responded to pricing requests from the Sales Force. After: Responded to 15 to 20 pricing requests from the Sales Force on a daily basis. Scale Everyone on the hiring side of the business loves when candidates provide numbers, because numbers explain the impact of what you’ve done. The most meaningful numbers are those associated with making money, saving money, and driving productivity. Here are a couple examples from my work experience: Before: Reduced time to perform Operations Manager’s role; after analysis showed tasks could be batched and performed at the end of the month. After: Reduced time to perform Operations Manager role by 66%; after analysis showed tasks could be batched and performed at the end of the month. Asked Director if I could take on the responsibilities of employees who were laid off. Before: Analysis revealed misconfigured offers; worked with other departments to correct errors. Implemented process to prevent future errors. After: Analysis revealed misconfigured offers; worked with other departments to correct errors. Recognized $7.2M. Implemented process to prevent future errors.

SagaReach Marketing Helps Local Businesses Build Scalable-Predictable-Sustainable-Measurable Compounding Growth By Providing Them Exclusive Referrals And Online Visibility. With Science-Based SEO, We Drive Qualified Traffic at Scale. With Content Marketing, We Provide Value While Driving Conversions. With PPC, We Transform Customer Intent into Profit. With SMM, We Meet Your Customers Where They Live. With CRO, We Unlock Additional Value in Your Funnel.

We’ll let you in on a secret: There’s never going to be a perfect time. And here’s another one: It’s never too early to start marketing.

Call center solutions for small business What does it mean to develop a call center solutions that is small business friendly? It is unique to each organisation, which necessitates that the design be designed on a case-by-case basis. Do you have a partner who is willing to help you build your solution from the ground up? Scaling is a crucial aspect of developing a call center solution for a small organisation. Tiny businesses aren't always small businesses. By the end of a single year, a company that accepts a few dozen calls per week may be taking several hundred calls per day — Alternatively, they could remain the same size. It depends on a number of things, one of which is whether they are committed to providing the resources their customers and employees require for organic growth. Speak with your technology solutions provider about scalability if you want to provide your company the chance to expand. ChaseData offers a variety of scalability alternatives, including solutions that allow for remote agent flexibility, allowing your team to grow and shrink as needed. That way, you'll always be in control of your labour costs, and you'll have the correct number of employees on hand to handle whatever your customer base throws at you! Small Business Still Be Smart A prevalent assumption is that small business call center solutions must be limited in terms of features and capabilities. This is absolutely not the case. When it comes to the technology employed in today's call centers, small can be mighty. One of the most pressing concerns when it comes to increasing efficiency and productivity in a call center – whether large or small – is reducing time spent on repetitive information. Consumers frequently say that they spend several minutes providing simple information to call center personnel, including repeating it several times for verification or because their call has been moved. This process is not only inconvenient for the caller, but it can also be a waste of time and money for your call center! Using smarter technology to limit the quantity of data that must be transmitted is a wonderful approach to improve productivity, efficiency, and customer happiness. It assists in the reduction Our Topics Tags -: ivr solutions in delhi | voice blaster | voice logger | GSM PRI Gateway | GSM VoIP Gateway | Gsm gateway

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What are your feelings from Bush to Obama? Besides being responsible for the death of half a million people, I feel like Bush dealt a huge economic and social blow to the USA, one from which we may never fully recover. He directly flushed 3 trillion dollars down the toilet on hopeless, pointlessly destructive wars in Afghanistan and Iraq …and they’re not even over! For years to come, we’ll be paying costs for all the injured veterans (over 50,000) and destabilizing three countries, because you have to look at the impact that the Afghan war has on Pakistan. Bush expanded the use of torture, and created a whole new layer of government bureaucracy (the “Department of Homeland Security”) to spy on Americans. He created Indefinite Detention (at Guantanamo and other US military bases) and expanded the use of executive-ordered assassinations using the new drone technology. On economic issues, his administration allowed corporations to run things and regulate themselves. The agency that was supposed to regulate oil drilling had lobbyist-paid prostitutes sleeping with employees while oil industry lobbyists basically ran the agency. Energy companies like Enron, and the country’s investment banks were deregulated at the end of the Clinton administration and Bush allowed them to run wild. Above all, he was incompetent and appointed some really stupid people to important positions at every level of government. Certainly, Obama has been involved in many of these same activities. A few he’s increased, such as the use of drone assassinations, but most of them he has at least tried to scale back. At the beginning of his first term, he tried to close the Guantanamo prison and have trials for many of the detainees in the United States but conservatives (including many Democrats) stirred up public resistance and blocked this from happening. He tried to get some kind of universal healthcare because over 50 million Americans don’t have health insurance. This is one of the leading causes of personal bankruptcies and foreclosures because someone gets sick in a family, loses their job, loses their health insurance (because American employers are source of most people’s healthcare) and they can’t pay their health bills or their mortgage. Or they use up all their money caring for a sick family member. So many people in the US wanted health insurance reform or single-payer, universal health care similar to what you have in the UK. Members of Obama’s own party (The Democrats) joined with Republicans to narrowly block “The public option” but they managed to pass a half-assed but not-unsubstantial reform of health insurance that would prevent insurers from denying you coverage when you’re sick or have a “preexisting condition.” The minute it was signed into law, Republicans sued in the courts (all the way to the supreme court) and fought, tooth and nail to block its implementation. Same thing with gun control, even as we’re one of the most violent industrial countries in the world. (Among industrial countries, our murder rate is second only to Russia). Obama has managed to withdraw troops from Iraq and Afghanistan over Republican opposition but, literally, everything he tries to do, they blast it in the media and fight it in Congress. So, while I have a lot of criticisms of Obama, he is many orders of magnitude less awful than Bush and many of the positive things he’s tried to do have been blocked. That said, the Democratic and Republican parties agree on more things than they disagree. Both signed off on the Afghan and Iraq wars. Both signed off on deregulation of banks, of derivatives, of mortgage regulations and of the energy and telecom business …and we’ve been living with the consequences ever since. I’m guessing it’s the same thing with Labor and Conservatives in the UK. Labor or Democrats will SAY they stand for certain “progressive” things but they end up supporting the same old crap... (2014 interview with iamhiphop)

Watch what they do, not what they say Watching what your customers are doing—or trying to do—with your product can light the way forward. But you have to be careful to pay attention to what they do and not just what they say. Expect to have your theories of human behavior tested Your theory about how individuals and groups behave should underlie your strategy, your product design, your incentive program—every decision you make. But be open and alert to when your customers show you a different theory or direction. That could become your product’s point of differentiation. Follow the leaders: Your customers To grow your business, you may have to give up control. Look for instances when your customers hack or hijack your product, and then go along for the ride. Get Mr. Spock and Dr. McCoy working together Customer data is your Mr. Spock, detached and logical. Customer emotion is your Dr. McCoy, passionate and all too human. Think of yourself as Captain Kirk, responsible for making the two work together to get the best out of each.

One of the keys to Tobi’s success: He turned Shopify into a platform that not only allowed merchants to easily set up online stores but also enabled app developers to build specialty stores for merchants. By opening up Shopify in this way, Tobi made a conscious decision to let developers make money off his platform, rather than trying to keep it closed so he could capture all of that app revenue himself. “What we did to get the platform off the ground is to basically leave all the economics for Shopify on the table and give it to the third-party app developers,” Tobi says. This helped him to rapidly attract more and more users to Shopify. And in retrospect, these decisions paved the way for their widespread success. But they were tough calls at the time. “It’s hard to do, because you are leaving a lot of economics that you could easily take for yourself on the table—or actually, you are investing it into your own future by giving it to other people,” Tobi explains. “And that’s very hard to do for most businesses.” The combination of a strong platform, a well-populated app store, and a community of developers helped protect Shopify against competition and built a positive feedback loop that ratcheted up innovation, attracting more users and more developers.

The shift Even the most focused entrepreneurs who are pursuing a particular vision must constantly shift and adjust to changes in technology, the market, or the world in general. Pivoting in this way doesn’t mean giving up on the vision; in fact, they’re often more successful at pivoting because they’re guided by a vision. The switch Pivots often occur within an existing business: for example, when the company switches from one strategy to a different one. It’s important to get early feedback on changes like this—or at least communicate those changes to as many of your stakeholders as you can before you flip the switch. The swerve Some pivots are reactions to an unexpected development: a new problem or opportunity that suddenly manifests itself. It might be blocking the path forward, requiring a deft sideways maneuver to avoid a crash, or it could be something compelling that has cropped up on the side of the road. You may find it’s worth swerving to investigate and perhaps pursue this new possibility. The reboot A pivot can sometimes—not often, but sometimes—be a complete departure from the original mission of the company. A total reboot like that can work, but it rarely goes off without some bumps. The rebound: Pivoting in a crisis Crises can cause some unwelcome pivots. But they also can offer opportunities to learn, experiment, and make improvements to your current business. So, even while navigating a crisis, look toward the future and ask questions like “Within these constraints, what are the newer creative possibilities? How can we make our business more flexible, and stronger, over the long run?

When you’re growing quickly, there will always be fires—inventory shortfalls, servers crashing, customers whose calls aren’t answered. You won’t always know which fire to stamp out first. And if you try to put out every fire at once, you’ll only burn yourself out. That’s why entrepreneurs have to learn to let fires burn—and sometimes even very large fires. When you have a fast-scaling company, the focus must be on moving forward. And you can’t do that if time is spent dealing with spontaneous, scattered eruptions. Fighting every fire can cause you to miss critical opportunities to build your business—you’ll be all reaction and no action.

When you talk to people who have scaled a business—and we have talked to many, at length and in depth—you begin to uncover some counterintuitive truths about scaling: The best, most scalable ideas are often the ones that seem the most implausible. An encounter with resistance at the start of your journey is a good thing. Early, honest feedback from the right people will have an outsized impact on helping you refine your idea. Doing things that don’t scale—especially at the earliest stages—can set you up for dramatic scale later on. Even if everything you thought you knew turns out to be wrong, you can still achieve your goals—as long as you accept the truth and adjust your plan.

Then there’s project management software (sometimes referred to as task management or jobs management), which acts as an accountability and management tool. The goal of this software is to track all of your projects and ensure that every team member knows the tasks they should be working on and when they’re due. This also gets all your team communication, relating to any project, out of your email and into a central location.

The secret to ensuring your business develops a culture where systems are not just created, but actually used, is to introduce some level of accountability.

The CCF focuses on the specific objective of having the business make money without being dependent on any one specific team member, so be sure that these systems are up and running.

it’s also probably unrealistic – and unnecessary – to ask your employees to reread the entire system every time they complete their tasks. That’s where your project management software steps in.

I just want to focus on two tools and what I believe you need to build a truly successful systems-centred business. 1) Systems management software 2) Project management software

I also suggest getting clear on the qualities your team members need to have to succeed within your business and building that into your recruitment process.

the core benefit of project management software, which is to get your team to use the systems and to record their progress as they’re doing their work.

start by systemising based on where you are, not where you’d like to be. Optimisation, tweaking and testing your way to a better business is useless – even counterproductive – if you haven’t first established a solid baseline. One of the core principles in SYSTEMology is to first capture what you’re already doing.

Build team awareness by explaining the scale. Have everybody read this chapter and discuss it during a team meeting. •​A cultural bridge can help a lot. If you have team members who are bicultural or have significant experience living in different cultures, ask them to take responsibility for helping other team members. •​Understand and adapt to one another’s behaviors. •​Patience and flexibility are key. Cross-cultural effectiveness takes time. Developing your own ability to recognize others’ reactions and adapt accordingly will help you to be increasingly persuasive (and therefore effective) when working internationally.

Is Spain task-based or relationship-based? If you are like most people, you would answer that Spain is relationship-based. But this answer is subtly, yet crucially, wrong. The correct answer is that, if you come from France, the United Kingdom, Sweden, the United States, or any other culture that falls to the left of Spain on the scale, then Spain is relationship-based in comparison to your own culture. However, if you come from India, Saudi Arabia, Angola, or China, then Spain is very task-based indeed—again, in comparison to your own culture.

In review, here are my top best practices for hiring great leaders: Know everyone’s profile. Whether you use DiSC, Meyers-Briggs, or something else, I can’t emphasize enough how important it is to find great leaders who fill in your gaps and get them into the right roles. Look at past experience. Do they have what it takes—experience and mindset—to 10X your business? No ambiguity allowed. Put everything on paper. Don’t rely on verbal agreements or trust your memory. Build SMART goals into the expectations for their role and connect those with rewards. Keep away from the yea-sayers. You need people who can challenge you and push things to find the best direction. Hire leaders with similar core values. While personalities, strengths, and skills should be complementary, core values must be in alignment as the glue to hold things together

So recognize that your dominance might be your greatest strength, but it’s also your greatest weakness and can impair your ability to scale the company if you’re not aware of it. If you can get over this hurdle and begin to trust others, it’s magical—because then you’ve got others out driving the business and wealth for you without you having to think about every component.

six reasons why email is the best: My company AppSumo generates $65 million a year in total transactions. And you know what? Nearly 50 percent of that comes from email. This percentage has been consistent for more than ten years. Don’t believe me? I have 120,000 Twitter followers, 750,000 YouTube subscribers, and 150,000 TikTok fans—and I would give them all up for my 100,000 email subscribers. Why? Every time I send an email, 40,000 people open it and consume my content. I’m not hoping the platform gods will allow me to reach them. On the other platforms, anywhere between 100 and 1 million people pay attention to my content, but it’s not consistent or in my control. I know what you’re saying: “C’mon, Noah, email is dead.” Now ask yourself, when was the last time you checked your email? Exactly. Email is used obsessively by over 4 billion people! It’s the largest way of communicating at scale that exists today. Eighty-nine percent of people check it EVERY DAY! Social media decides who and how many people you’re seen by. One tweak to the algorithm, and you’re toast. Remember the digital publisher LittleThings? Yeah, no one else does, either. They closed after they lost 75 percent of their 20,000,000 monthly visitors when Facebook changed its algorithm in 2018. CEO Joe Speiser says it killed his business and he lost $100 million. You own your email list. Forever. If AppSumo shuts down tomorrow, my insurance policy, my sweet sweet baby, my beloved, my email list comes with me and makes anything I do after so much easier. Because it’s mine. It also doesn’t cost you significant money to grow your list or to communicate with your list, whereas Facebook or Google ads consistently cost money.

Furthermore, in my experience, loving your idea is key because it can often lead to helping others love your idea too. Enthusiasm is contagious, but authentic enthusiasm is even more contagious, which can come in very handy whenever you’re pitching to a potential investor, recruiting a new business partner, or hiring that hard-to-get key employee.

One way to make yourself less vulnerable to copycats is to build a moat around your business. How Can I Build a Moat? As you scale your company, you need to think about how to proactively defend against competition. The more success you have, the more your competitors will grab their battering ram and start storming the castle. In medieval times, you’d dig a moat to keep enemy armies from getting anywhere near your castle. In business, you think about your economic moat. The idea of an economic moat was popularized by the business magnate and investor Warren Buffett. It refers to a company’s distinct advantage over its competitors, which allows it to protect its market share and profitability. This is hugely important in a competitive space because it’s easy to become commoditized if you don’t have some type of differentiation. In SaaS, I’ve seen four types of moats. Integrations (Network Effect) Network effect is when the value of a product or service increases because of the number of users in the network. A network of one telephone isn’t useful. Add a second telephone, and you can call each other. But add a hundred telephones, and the network is suddenly quite valuable. Network effects are fantastic moats. Think about eBay or Craigs-list, which have huge amounts of sellers and buyers already on their platforms. It’s difficult to compete with them because everyone’s already there. In SaaS—particularly in bootstrapped SaaS companies—the network effect moat comes not from users, but integrations. Zapier is the prototypical example of this. It’s a juggernaut, and not only because it’s integrated with over 3,000 apps. It has widened its moat with nonpublic API integrations, meaning that if you want to compete with it, you have to go to that other company and get their internal development team to build an API for you. That’s a huge hill to climb if you want to launch a Zapier competitor. Every integration a customer activates in your product, especially if it puts more of their data into your database, is another reason for them not to switch to a competitor. A Strong Brand When we talk about your brand, we’re not talking about your color scheme or logo. Your brand is your reputation—it’s what people say about your company when you’re not around.

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...one great advantage of scale taught in all of the business schools of the world is cost reductions along the so called experience curve. Just doing something complicated in more and more volume enables human beings, who are trying to improve and are motivated by the incentives of capitalism, to do it more and more efficiently. The very nature of things is that if you get a whole lot of volume through your operation, you get better at processing that volume. That's an enormous advantage. And it has a lot to do with which businesses succeed and fail.

Do you have consistent sources of cash, ideally generated internally, to fuel the growth of your business?

Lesson to Learn Natural talent alone will rarely be enough to get anyone to their goals. You need to work really hard to achieve anything in life.

To grow a business successfully you need to let the system deliver the excellent result – not the people.

Thinking is the hardest work to do, that’s why so few people are engaged in it.’ HENRY FORD