Business

The 7 Powers: a Strategic Framework to Fight Off Increasing Competition

It has never been easier to build a business online. By that same token, there has never been more competition. The best way to remain profitable long term is to invest in moats using the 7 Powers Framework.

It’s terrifying being a seller on Amazon. What if Big Bezos decides he wants to make an AmazonBasics version of your best seller? Or what if your supplier decides they want to start competing against you?

Affiliate marketers have to deal with people spying on and ripping off their campaigns. Facebook costs keep rising. Margins keep shrinking.

Productivity

Workflows 101: The Hidden Concept to Get More Work Done

Everyone is approaching productivity wrong. Tactics such as Pomodoros and blocking distractions only scratch the surface. A more effective approach is to improve your workflows.

My career exploded starting in 2009.

The money was great, but my soul was taking a beating. I couldn’t keep up with the countless emails. I thought employees were the answer, but managing them took time away from me actually making money.

Business

Drop Servicing: The Best Business Model to Start if You’re Broke

“Charles, what would you do if you had to start all over again? I don’t have any money to invest in a business, and I don’t have any skills that I can make money from! All I have is my time and work ethic. Please help.”

I’ve been getting emails like these ever since COVID-19 happened.

Whenever someone’s in a difficult financial situation, my advice is to find a job. And I don’t mean that in a condescending way.

A job is the fastest way to get stability. It’s hard to launch your business if your lizard brain is worried about making rent.

Mindset

Improve Your Problem Solving and Performance with Constraints

The Japanese carmakers were fighting for their survival after World War 2.

Everything was stacked against them.

1. The demand for cars declined.

2. The costs of production soared.

3. The war devastated the Japanese economy. The carmakers couldn't get access to capital to finance large batch orders.

Business

Market Inflections: How to Easiest Way to Think of Million Dollar Ideas

So often, we feel as if we have to grind it out for years to get results.

If you work hard and persistent enough, then the results will come. Well, what about all the outliers who defy this rule?

Charlie D’amelio has the biggest following on TikTok. She has 80+ million followers now, and she started her account in June 2019. She wasn't known prior to this and didn't have any unfair advantages.

Business

Raise Your Prices: 5 Strategies Luxury Brands Use to Increase Their Perceived Value

Legendary venture capitalist Marc Andreessen’s #1 advice for companies is simple: raise your prices.

In an interview on the Tim Ferriss Show, he said:

“The No. 1 thing — just the theme and we see it everywhere — the No. 1 theme with our companies have when they get really struggling is they are not charging enough for their product.

It has become absolutely conventional wisdom in Silicon Valley that the way to succeed is to price your product as low as possible under the theory that if it's low-priced everybody can buy it and that's how you get the volume.”

Business

The Complete Guide to Creating Systems and SOPs in Your Business

The following is a guest post by my friend Aaron Lynn. I’ve been getting emails requests over the years about how to implement systems into businesses. He’s one of the best at explaining this topic.

Everyone likes to talk about standard operating procedures (SOPs) and systems, but going from the idea of having them to actually working on them is different.

Business

3 Personality Tests You Should Include in Your Hiring Decision

It's hard to hire great talent.

Think about how fast you can gain skills in business. You can launch dozens of tests a day if you have the budget.

You can handwrite sales letters by hand daily to improve your copywriting.

But getting good at hiring? That takes a long time. Looking at resumes, interviewing people, and onboarding them takes months.

Affiliate Marketing

Beachhead Strategies: 4 Ways You Can Compete With a Smaller Budget

Running a business is like going to war.

Think about how many analogies in business came from the military: price wars, guerrilla marketing, strategic alliances, subordinates, chain of command, and much more.

I started studying military strategy for fun in college. I wish I could tell you some grandiose reason why, but the truth is I wanted to get better at playing StarCraft.

Business

The Critical Number: The Strategy that Facebook and Netflix Used to Stay Focused

When you’re running a business, it can feel as if there are a thousand tasks at any given moment.

You're trying to grow revenue, but you're stuck in the whirlwind of endless meetings and other people telling you what to do.

The problem is every team member has their own priorities. It can feel like you’re trying to row the boat forward, but everyone’s paddling in a different direction.

News and Events

Thoughts on Racism and Riots

I didn’t think 2020 could get scarier, but here we are.

I’ve always avoided talking about politics, religion, or anything too controversial - it’s not my style.

But there are some issues where it’d be wrong to remain neutral or silent on.

So here it goes.

I’m Asian American.

Ecommerce

Increase Your Product’s Price and Conversion Rates with Value Stacking

“Competition is for losers” - Peter Thiel

I love studying strategy and competition.

I’ve learned that it’s rarely a good idea to compete on having the lowest price.

Imagine that you have a product or a service, and your only advantage is that you're cheaper than the competition.

Charles Ngo Articles