Inertia can be a bitch. “Inertia is the tendency of consumers to adhere to their existing habits or actions even when presented with a superior alternative.” To anyone selling anything they genuinely believe in who has been smacked down by the inertia of the people across the table - you know the pain. Here’s some … Continue reading Inertia: 100% That Bitch
Tag: forecasting
Stubborn On Vision And Flexible On Details
There’s a famous Jeff Bezos quote that applies to all of our work. It’s about knowing where we’re going, and accepting there’s probably more than one way to get there. As he says, “We’re stubborn on vision and flexible on details.” Amen. Once you know the mountain you want to summit, you’ll look around to … Continue reading Stubborn On Vision And Flexible On Details
It Takes Chaos And Confidence
In physics, a two-body problem is how we understand what happens when two objects interact with each other in space. Two-body problems are predictable. They’re like cause and effect, or the things in our professional work where we say, “If this happens, then we’ll do that.” Three-body problems, on the other hand, are not possible … Continue reading It Takes Chaos And Confidence
The Idea / Product / Service / Adoption Lifecycle
No idea, product, or service is everywhere all at once. It has to spread and spreading takes some amount of time. Most people talk about what they’re going to do to put whatever they’re offering out there. The best of the best add who, how, why, and when will adopt it and build their strategy … Continue reading The Idea / Product / Service / Adoption Lifecycle
What’s The Margin Of Safety?
In investing, we talk a lot about margin of safety. It usually represents what is left over after we adjust for bad luck. Anywhere we make choices - in business or in life - thinking about “what will I be left with if this doesn’t work out,” in advance is a helpful thought experiment. In … Continue reading What’s The Margin Of Safety?
Before The Trip And Before The Project: Destination Planning And Route Planning
When we are trying to help people reach a goal or meet an objective, it can help to differentiate between destination planning and route planning. Destination planning can be done with a paper map. We are in one place and the destination is in another. Route planning can be done and then modified on our … Continue reading Before The Trip And Before The Project: Destination Planning And Route Planning
Nazi-Fighting Field Mice And Always Having A Margin Of Safety
There are two types of conservative: the kind where you avoid risk, and the kind where you broaden your definition of success. The first is about limiting the potential outcomes to something certain. The second is about opening up to a range of acceptable outcomes, also called having a margin of safety. The distinction matters … Continue reading Nazi-Fighting Field Mice And Always Having A Margin Of Safety
Times Are Changed, We Are Changed With Them
“Tempora mutantur, nos et mutator in illis.” In case you did as poorly in 7th grade Latin as I did, that translates to, “Times are changed, we are changed with them.” And like life after Latin, things move on. All of us. Everything. Impermanent and ever-shifting. Friends. Relationships. Bills. Account balances. Daily schedules. We can … Continue reading Times Are Changed, We Are Changed With Them
Becoming Better Bettors
One area where improvement creates massive leverage is becoming better bettors. Not just by predicting actual outcomes, although that can help too, but getting better at the process of making bets itself. The process of betting is hard. We’re trying to predict the future. We have to imagine a plausible outcome. We have to put … Continue reading Becoming Better Bettors
The Myth Of Good Times And Bad Times
In business, the idea of good times and bad is a myth. There are times that are bad, and there are times to prepare for bad times. It’s not to say we can’t experience good times. We can and should stop to celebrate milestones and achievements. But, it pays to be realistic. Two things happen … Continue reading The Myth Of Good Times And Bad Times