Focus and Execution (and Squirrels)
2020-07-06
Focus means not getting distracted from your main objectives. Execution means getting things done – the things you need to get done.Keep Reading
Algorithms (and Your Dog’s Dinner)
2020-07-06
Algorithms are rules computers use to make decisions: programmed by people, they can then make decisions that affect many other people.Keep Reading
Open Source Software (and Barn Raising)
2020-07-06
Open source is a collaborative design method where volunteers write software together, then publish it for others to reuse and improve upon.Keep Reading
Vertical Integration (and Apples)
2020-07-01
Vertical integration is when one company controls everything needed to produce and deliver its product to consumers.Keep Reading
Core Competence (and Fluffy Muffins)
2020-07-01
Core competence is what your business is really great at.Keep Reading
Socialization (and Training Dragons)
2020-06-13
Socialization is how organizations train new members to think and act the way they want them to. Keep Reading
Commoditization (And Pizza Dough)
2020-06-09
Commoditization is when a product is so easy and cheap to make that the price keeps dropping until almost everyone can afford it.Keep Reading
Pivoting (and Uphill Battles)
2020-05-30
Pivoting is making whatever changes you must, however dramatic, to reinvent your business if it stops working.Keep Reading
Price Elasticity (and Pies)
2020-05-30
Price elasticity is how much more (or less) of something people will buy if the price goes down (or up).Keep Reading
Gross Margins (And Gross Sandwiches)
2020-05-30
Gross margin is the profit you make when you subtract the direct costs of producing your product from the price you sell it for.Keep Reading
Optimization (and Dishwasher Divas)
2020-05-29
Optimization is when you obsess over improving something, sweating every little detail and trying repeatedly to make it perfect.Keep Reading
Dilution
2020-05-25
Dilution is when you add something into something else, and in the process make it weaker or less concentrated.Keep Reading
Opt Ins And Outs
2020-05-25
‘Opting-In’ is when you make a choice to be part of something. ‘Opting-Out’ is when someone volunteers you, and you must ask to get out of it.Keep Reading
The Federal Reserve
2020-05-25
The Federal Reserve is the most important bank in the U.S., and the ‘banker’ for all the other banks in the U.S.Keep Reading
Interest Rates (And Escalators)
2020-05-01
Interest rates are the cost of borrowing money. Keep Reading
Optionality (Who Do You Like?)
2020-05-01
Optionality is a business term for ‘keeping your options open,’ or finessing a situation so you don’t unnecessarily close off options.Keep Reading
Price Discrimination (And Early Birds)
2020-04-15
Price discrimination is when you charge different groups of people different prices for the same product, by creating slight product variations.Keep Reading
Visibility (and Egg Production)
2020-04-14
Visibility is the ability to foresee (or not) what will happen in your business.Keep Reading
Fixed Costs (and Backyard Businesses)
2020-04-12
Fixed costs are things you buy once for your business, and then use for a long time. Keep Reading
Variable Costs (and Lemonade Stands)
2020-04-12
Variable costs are things you use up as you go in your business: the more business you do, the more you must spend on them.Keep Reading