From 600+ conversations with the world’s leading thinkers.
80% of self-made billionaires we studied made their mark in mature, competitive markets. They weren't all 'exactly' new products that came out – they were maybe a variation of a business model or existing product that pleased the customer in a different way. Think of Howard Schulz with Starbucks, or Sara Blakeley with Spanx for example.
Social media has decreased distance and that means that we are just as passionately bothered about things on the other side of the world, as we are things in our home town. Social media transparency has had, and is having, a huge impact on stakeholder visibility.
If something goes wrong – as a leader, you take ownership – you cannot blame anyone else. If you are in charge of a team, you absolutely have to take ownership when something goes wrong, it's your fault.
That confidence and perseverance can sometimes lead you to keep charging ahead headfirst, when what's really needed is a pause and a course adjustment. I think that's the challenge when strengths get overused.
I don't really like the term entrepreneur because I think to some it implies that you start businesses for the sake of starting businesses. My view is this. If there's something you want to see in the world that doesn't exist, go build that thing. If that means you have to build a company? so be it.
An increasingly number of companies see their brand as the platform for running their business. The brand creates an identity for the product and/or company in the marketplace. It requires the company to think deeply about its mission, vision, and values. The company has to work hard at developing the image that it wants customers to have of the offering. The brand must not only convince prospective customers and draw them to the brand but also be deeply believed in by the employees and other stakeholders of the company.
In markets like books, art, music, and Hollywood, it's extremely hard to predict which products will become runaway hits. In the early days, if a high-status person embraces a product, it can have an enormous impact on its trajectory. Influential people adopt and endorse a product, which gives it an initial push.
What's remarkable about Israel's economy is that in the last few years we have situations which, in any other country, would have been totally disruptive. The incredible thing is that none of these threats have a measurable impact on our economy!
When I was a journalist, you had to always have three sources, or they would not run the story. Now, according to 'sources', not even on-the-record, is good enough. Everyone wants to be first and often that leads to mistakes.
The most successful organisations I've met over the years have a very-strong senses of culture (even from start-up stage). This isn't the soft process of drafting a mission statement for your website, but genuinely understanding the type of personality you want your company to have.
Men are cheaper than shingles.
I came to the conclusion that clubs would be better of promoting strategies that induce home-advantage rather than fighting for higher ticket price because the incremental value of each point lost is higher than the value of those more expensive tickets. If you drive your home advantage, your revenues go up!