In Grit , Angela Duckworth draws from her own experience to determine success is a product of passion and long-term perseverance. She tells us the stories of West Point cadets, teachers, and Spelling Bee finalists as they use their determination and drive to move toward their goals. In the end, she identifies six skills that creators of internationally recognized, successful brands have in common. Weinberg and Mares are here to tell you all about traction: how you consistently grow and acquire new customers.
Traction teaches 19 channels you can use to build a customer base, and draws from interviews with founders of companies like Wikipedia, Kayak and Hubspot. This book by Michael Watkins is all about transition. Transitions offer a chance to start fresh, make necessary changes, but they also put leaders in the hot seat. The first 90 days is the most crucial to a new endeavor — and is said to make or break your overall success.
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Watkins — a noted expert on leadership transitions — walks the reader through every aspect of the transition scenario, from common pitfalls to look out for, to how to identify and secure early wins. Get earlywins in The First90Days : pic. Watkins MichaelDWatkins July 14, Written by the author of Build to Last , this book is heavily research-based and digs into what truly drives good companies into becoming great companies — and how most companies fail to get there.
A company with a contagious brand or product has powerful, rapid influence. Porras This book is a literal journey, following 20 companies on their road to success from struggling startup to a midsize company to a massive corporation. Online flash sales that were available only for a day. Fischman decided that this was the perfect way to put a unique spin on his business. And it was. Rue La La hit the ground running because it smartly leveraged the urgency factor. Part of this started by accident.
Every morning the site posted new deals at a. But in the first couple of months demand was so much higher than expected that by a. As it has grown, Rue La La has maintained this limited availability. It still sells out 40 percent to 50 percent of items in the first hour. The traffic spikes at a. Just as with the velvet rope that prevents regular partygoers from just walking into an exclusive nightclub, people assumed that if you had to be a member, the site must be really desirable.
They proselytize better than any ad campaign ever could. You go down to the concierge to find out about a restaurant and he tells you a name right away.
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The assumption is that he is getting paid to suggest that place and the restaurant is probably mediocre. And you try it. Rue La La unleashed the power of friends telling friends.
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Both used scarcity and exclusivity to make customers feel like insiders. Scarcity is about how much of something is offered. Scarce things are less available because of high demand, limited production, or restrictions on the time or place you can acquire them.
Exclusivity is also about availability, but in a different way. Exclusive things are accessible only to people who meet particular criteria. Croix with movie stars. Knowing certain information or being connected to people who do. Access is by invitation only, so you have to know an existing user. Scarcity and exclusivity help products catch on by making them seem more desirable.
If something is difficult to obtain, people assume that it must be worth the effort. Disney uses this same concept to increase demand for decades-old movies. This limited availability makes us feel like we have to act now. If people get something not everyone else has, it makes them feel special, unique, high status. Because telling others makes them look good. Having insider knowledge is social currency. When people who waited hours in line finally get that new tech gadget, one of the first things they do is show others.
Look at me and what I was able to get!
They were a huge hit and every franchise across the country wanted them. Something that would keep them happy despite the shortages. Arend came up with a pork sandwich called the McRib. He had just come back from a trip to Charleston, South Carolina, and was inspired by Southern barbecue.
But contrary to what the name suggests, there is actually very little rib meat on the McRib. Instead, imagine a pork patty shaped into something that looks like a rack of ribs. Subtract the bones and most of the higher-quality meat , add barbecue sauce, top it off with onions and pickles, toss it in a bun, and you pretty much have the McRib.
Lack of rib meat aside, the product test-marketed quite well. McRibs were everywhere from Florida to Seattle. But then the sales numbers came in. Unfortunately, they were much lower than expected. It just made the product scarce. Sometimes it would bring the product back nationally for a limited time; in other cases it would offer it at certain locations but not others.
Two months later it would be offered only in Chicago, Dallas, and Tampa. And its strategy worked. Consumers got excited about the sandwich. Someone even created an online McRib locator so fans could share locations that offered the sandwich with others. All for what is mostly a mix of tripe, heart, and stomach meat. Making people feel like insiders can benefit all types of products and ideas. Regardless of whether the product is hip and cool, or a mix of leftover pig parts. A few years ago I went through a fundamental male rite of passage. I joined a fantasy football league.
Millions of people spend countless hours scouting players, tweaking their rosters, and watching their performance each week. It always seemed funny to me that people spent so much time on what is essentially a spectator sport. And sure enough, I got sucked in. Once the season started I found myself watching football, something I had never done before.