On Strategy

cloudy sky over snowy mountains and lush forest

A collection of thoughts on strategy:

  1. Be Specific: Differentiation is free marketing.
  2. Competition is for Losers: Avoid competition.
  3. Observe Base Rates: The average outcome for an event over time.
  4. If you want to win, pick an easy table and nail your execution.
  5. If you want to be lucky, look for opportunities with big upsides and low downsides.
  6. Large gaps between accelerating technologies and stagnating social norms create lucrative new business opportunities. But they are only available for a short time.
  7. Most marketing strategies have a short window of success.
  8. What best serves the customers, should also best serve the product. (Flowers must be sold the same day. Books have to last forever.)
  9. Mimetic Theory of Desire: We don’t know what we want, so we imitate each other.
  10. Baker’s Dozen: The key to good hospitality is to delight your guests with an unexpected gift.
  11. The Medium Is the Message: We pay too much attention to what is being said. But the medium of communication is more impactful.
  12. Price is a story