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Better and faster

Kirjoitettu 12.12.17
Esseen kirjoittaja: Petri Vainio-Pekka
Kirjapisteet: 2
Kirja: Better and faster
Kirjan kirjoittaja: Jeremy Gutsche
Kategoriat: 1. Oppiminen

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How become a better salesman? I think that’s the main problem in sales business. It’s very important to know your own strengths and adjust your behaviour with different kind of people. It is very important that you are trustable and kind person. You also need to be social and confident. When I read this book, I wanted to get more information about these. I wanted to learn how bigger firms do so great products and how they sell them.

 

Farmer traps

 

Every business leader thinks they have what it takes to succeed. They know how to accomplish obstacles that stands their way. There is three so called farmer trap in this book. These three traps are the main reasons, that especially fast- changing industries fall. Now I’m going to tell you more about them:

 

First farmer trap refers complacency, which develops when people rest on the laurels earned from past successes. All firms have to adjust their products and other things when the world changes. It’s very important to read the news and follow trends. Entrepreneur must adjust their firms way of acting with the world changes. It’s different with every line of business, but each of them are changing all the time.

 

Second farmer trap occurs when you repeat actions that brought success in the past and expect the same outcome in present. In this book was an example of Blockbuster Video which crumbled. This firm make a mistake 2009, because it didn’t adapt to the streaming market. Firm used all resources into franchising and physical media. Blockbuster Video was pretty large company. There was franchise in 9000 different locations and over 60 000 employees. And still it declared bankruptcy because it couldn’t adapt new line of business.

 

Third and the last farmer trap describes state of protectiveness. This occurs when companies set up barriers that protect the status quo and inhibit evolution. In this book, they use Kodak for example about falling in this trap. Kodak missed some wonderful opportunities because they were overly protective of their elite status in the analog film market. But that was a mistake. When Kodak invest lot of resources into digital innovations, that led them to declare bankruptcy.

 

It’s very easy to fall any of these farmer traps. Entrepreneur must be carefully with these three and try to avoid them.

 

Reduction and acceleration

 

There two are opportunities for companies. This books say that these are both proven method to finding specific market, creating a winning business idea and becoming better innovator, decision-maker and investor.

 

Reduction involves targeting niche audiences with product or service that stands out because of its simplicity. Doing this gets to the core of business concept using crowdsourcing and localization to remove any unneeded part. I think we need to do this. I think we have many different locations, what take our resources, but actually we don’t need those. When I graduated from team academy my plan is see all the main expenses. We need to think trough, what we need and what we can cancel. I think we have lot of different expenses which we don’t even need at all. In reduction means that you need to remove all the complex things in your products. By doing this, you can create value and carve out success in a small market. But it is also very important reduce your expenses and focus those, which are actually important.

 

Acceleration relies on the practice of perfecting, exaggerating reimagining or repositioning key product features as way of differentiating yourself from competition. You have to identify a crucial feature of an existing product or business concept which you then dramatically enhance. So, you need to figure out what is great about an idea and then accelerate it. By doing that you make it bigger, faster or better. We need to think how we can do this with real estate. I think we need to decorate few of our main houses and try to get more people interested of those with that.

 

Focus

 

Narrowing your focus and zero in on a great business idea is a good way to get new opportunities. It’s good to look above your normal marketing area and look if grass is more green in neighbours side. Look beyond your immediate market to find clever approaches to similar goals. That is the way for you to make something truly different and unique.

 

One example in this book was make a pop-up store. That’s fun idea because in my team there is three girls who have pretty good idea of doing this. Actually last year we considering to do pop-up real estate in theirs pop-up store, but then we gave up with that idea. I think we were too afraid of failure that we didn’t have courage to do that.

 

Today’s markets is far more unpredictable and chaotic than ever before. To be succesful in this environment you must embrace change. Don’t be afraid that world is changing. You must adapt your company to future and make sure that you don’t fall from the ride. We have lot to do with our firm. It’s outdated in many way. We need to do lot of work to make that great and make it bigger. If we buy that firm I think we need to make good plan before we even talk about buying. But everything have it meaning, so I am confident that we can make the right decision.

 

Petri Vainio-Pekka

Osuuskunta Bisnera

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