Expect anything worthwhile to take a long time.
A company shouldn’t get addicted to being shiny, because shiny doesn’t last.
The balance of power is shifting toward consumers and away from companies… The right way to respond to this if you are a company is to put the vast majority of your energy, attention and dollars into building a great product or service and put a smaller amount into shouting about it, marketing it.
[Many people] think it means accept failure with dignity and move on. The better, more subtle interpretation is that failure is a manifestation of learning and exploration. If you aren’t experiencing failure, then you are making a far worse mistake: You are being driven by the desire to avoid it. And, for leaders especially, this strategy — trying to avoid failure by out-thinking it — dooms you to fail.
You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.
Differentiation between products is driven by the activities of the firm: product design, product performance, quality, branding, advertising, distribution, and so on. The more a product is differentiated along a dimension consumers care about, the higher price premium it can demand. So, Starbucks can charge $3.50 for a cappuccino, Hermès can charge $10,000 for a Birkin bag, and they can do so largely irrespective of input costs.
In all cases, it’s a reminder of what sets Apple apart from other technology companies and what makes Apple stand out in a complicated world: a deep, almost religious belief in the power of Simplicity.
Three Questions to Ask Before Quitting:
Am I panicking? Quitting when you’re panicked is dangerous and expensive. The best quitters decide in advance when to quit. Wait until you’re done panicking to decide.
Who am I trying to influence? If you have a well defined person you’re trying to influence and they’re not listening, it may be time to quit. But when it’s a whole market, there are plenty of other people you could try to influence. Influencing a market is a hill you have to climb.
What sort of measurable progress am I making? If you’re trying to succeed in a job or a relationship or at a task, you’re either moving forward, falling behind, or standing still.
There are only three choices.
Here’s an assignment for you: Write it down. Write down under what circumstances you’re willing to quit. And when. And then stick with it.