27 May 2020

May 27, 2020

Thoughts of the day

Being different for the sake of being different vs. when it actually makes a difference

Commonly known and easily replicable systems and processes create common outcomes. They are proven methods that have extremely high probability of success if executed correctly. They may also be proven in a variety of different situations.

The thinking can then go, that the first step to achieving an extraordinary outcome is to NOT do the common things. An even simpler simplification rule would be to CONSIDER the exact opposite approach of the method and use that as a trigger to brainstorm new ideas. But just being different for the sake of being different may not yield any extraordinary result, other than perhaps some marketing and attention grabbing value.

When you are trying to discover new things/business models/products/services etc., there is an extremely high chance of failure because it is an experiment. The most you can hope from it is to learn something that you previously didn't know and use it to inform your next experiment.

Diderot Effect

The tendency for one purchase to lead to another. Obtaining a new possession often creates a spiral of consumption that leads to additional purchases.

This has interesting implications for sales. One approach to leverage this finding is to build a product offering around similar products and services.

Shuaib

A student of business, self-improvement, human behavior, economics, the financial system, practical digital technology and now digital marketing

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