Morally incorrect?
During a conversation this past week, I heard that. That raising your prices 5X or 10X, or charging one client different (probably 10X more) from another is not fair. Or that it’s wrong. What are your thoughts on that?
Surprise
To deliver surprise you need to be comfortable with risk. No risk, and you’ll be expected, predictable. And if you want to stand out in your market, predictability works in favor of your competitors. Awe them. Awe your customers.
One thing that will kill your business
The wrong focus. On customers that are not profitable. On products that no one needs. On numbers (revenue, sales), over profits. On people who just won’t do the thing or put the work. Choosing is hard, yet simple. You’ve always known what you should do. Take that first next step and just start.
Value?
Revenue ≠ Value Just that for you to think today. 🙂
Revenue ≠ Value
Creating value is not the same as creating revenue —and viceversa. Increasing your revenue can be a good indicator of something happening: the market finding your offerings attractive, making a simpler process for your customers to buy, increasing volume of sales, increasing prices, etc. YET, when your cost structure remains, your revenue minus costs will stay pretty much the same (because your costs are proportional to your revenue on most of the situations above). Revenue can deceive you….
Maximizers
In The JOLT Effect, a maximizer refers to a type of person (buyer, in this case) who: Wants to make the absolute best possible decision, not just a good one. Wants to explore every option, analyze all data, and compare thoroughly before committing. Often fears messing up (making the wrong choice). In short, someone who is always trying to get the lowest possible risk. The trade off is, though, that all of this happens at the expense of risking the inaction of now. It can (it does) take many…
Creative strategist
(Doom)Scrolling through LinkedIn a post popped up: creative strategist. Is there ANY strategy that doesn’t require creativity? How can you create advantage —and bring it in a surprising way— (2 requirements for any strategy), if you bring the same as everybody else? If you’re not creative? Spoiler: You can’t. You don’t. And what’s creativity? The ability to see. Mihaly Csikszentmihalyi
Fake it till you make it.
BS. What if you reframe it? And just see things from what you know, and adapt it to them.
The paradox of choice
The more options they have to choose from, the better decision they’ll make. Not really… The more there is, the more analysis to do. The more trade-offs to evaluate. The more ways of finding the one that fits better at all of the features. And here comes your friend, Analysis Paralysis. Went to buy a stuffed animal with my 5-yo. The quantity of them to choose from? Overwhelming. Big. Small. Medium. Light. Heavy. Birds. Mammals. Reptiles. Monsters. Fantasy. Puppets. Dolls. Asking “Which one…
Measurement and metrics
While we use interchangeably measurement and metric, there is a different between both of them. A measurement is the reading of something—the figure. A metric, is that same measurement, applied by judgement / criteria. USD 100K is a measurement. It just counts the money: 100 000. A metric would be if it’s above, on, or below an arbitrary point. If your costs are 200K, this metric of 100K would be bad. If your costs are 10K, then it would be good. 🙂
