Monthly Archives: August 2013

Reinterpretations

 

People go about interpreting and reinterpreting the events happening around them. It’s the same with customers having an experience with your products and services. Mindset is something you have to keep in mind when tailoring your message.

 

In Re-Create Your Life, Morty Lefkoe shows a process that can be used to reinterpret past events in a simple and useful way:

  1. Identify the undesirable pattern.
  2. Name the underlying belief.
  3. Identify the source of the belief in memory, including as much sensory detail as possible.
  4. Describe possible alternate interpretations of the memory.
  5. Realize that your original belief is an interpretation, not reality.
  6. Consciously choose to reject the original belief as “false.”
  7. Consciously choose to accept your reinterpretation as “true.”

Reinterpret your past, and you’ll enhance your ability to make great things happen in the future.

Time and Opportunity Cost

So I was in line in one of the Starbucks branches to get my cup of coffee, as I really hit it late the night before. Even with the grogginess, it seemed like forever waiting, with just 3 or 4 people in front.

It’s a pre-digital era ritual that we go through. But what if in the future, we can just order everything. For sure, some would appreciate the walk or the ambience of a coffee shop. But not every person values their time the same way. A digital and connected world would give that flexibility and services would be tailored to every customer’s needs. That is a bright future ahead right there.

Smartphone Sales Outpace Dumbphones Globally

Analyst Gartner report that smartphone sales have exceeded feature phone sales for the first time in Q2. Gartner says global smartphones sales rose 46.5% from last year’s quarter to hit 225 million units shipped, while feature phone sales declined 21% year-on-year to 210 million units.


Growth mostly came from the Asia Pacific, Latin American and Eastern Europe, with growth rates of 74.1%, 55.7% and 31.6% respectively.


Now that is a lot of opportunity for businesses expanding their operations on mobile.

Standard Forms of Value

Something of value is what someone else thinks is worth paying for. There are twelve standard forms of value, being:

 

1. Product. Create a single tangible item or entity, then sell and deliver it for more than what it cost to make.

2. Service. Provide help or assistance, then charge a fee for the benefits rendered.

3. Shared Resource. Create a durable asset that can be used by many people, then charge for access.

4. Subscription. Offer a benefit on an ongoing basis, and charge a recurring fee.

5. Resale. Acquire an asset from a wholesaler, then sell that asset to a retail buyer at a higher price.

6. Lease. Acquire an asset, then allow another person to use that asset for a predefined amount of time in exchange for a fee.

7. Agency. Market and sell an asset or service you don’t own on behalf of a third party, then collect a percentage of the transaction price as a fee.

8. Audience Aggregation. Get the attention of a group of people with certain characteristics, then sell access in the form of advertising to another business looking to reach that audience.

9. Loan. Lend a certain amount of money, then collect payments over a predefined period of time equal to the original loan plus a predefined interest rate.

10. Option. Offer the ability to take a predefined action for a fi xed period of time in exchange for a fee.

11. Insurance. Take on the risk of some specific bad thing happening to the policy holder in exchange for a predefined series of payments,then pay out claims only when the bad thing actually happens.

12. Capital. Purchase an ownership stake in a business, then collect a corresponding portion of the profit as a one-time payout or ongoing dividend.