Innovation Day. Takeaway #161 inspired by @bobatl

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So I’ma play my guitar

Rap about aliens and sing about stars

Till you understand that’s what we are

B.o.B.  (Generation Lost  ♦   Who The F#*k Is B.o.B.?)

Takeaway 161:   Innovation.  You are alone with an idea and certain that your oddity must be doomed for epic failure.  This is the point at which your gem can achieve returns beyond the required cost of capital.  You are alien, but recognize that your unique competitive and advantage is a solitary viewpoint that also makes you a star.

#226 (It is about your record….(

 My track record starts piling

Based on quality and productivity, you deserve firing

The Black Opera (Sleep Tight)

Takeaway 226:  BPM wants to thank Airjohnston’s Hip Hop World (check the site out: http://ajhiphopworld.com/) for reminding us of this gem.  This is not a Mitt Romney cut or a Bain Capital/private equity dig.  BPM does not “like” firing people.

This is the corollary to Takeaway #2 -Past results are not indicative of future performance.  Past data cannot predict future results – but that is just the statistical proof.

The reality, however, is that people judge whether or not to fire, hire and promote you on your past success .  The want to do business based on what? – your track record.  Start piling…

Old school takeaway #8. Put in the work, business is about relationships.

I’m just sitting here making myself nauseous
with this ugly food that stinks
so you bust out the door while its still closed
still sick from the food you ate
and then you run to the store for quick relief
from a bottle of Kaopectate
and then you call your friend two weeks later
to see how he has been
and he says I understand about the food
baby-bubba but we’re still friends

Sugar Hill Gang Rapper’s Delight

BPM could not drop knowledge without mentioning some of the more formative lyrics of the genre.  BPM thinks of this when doing the dreaded task.  You know, there is the one telephone call you have not made or the one deal you have been avoided analyzing.  You can’t do it.   It’s the Nasty Food . . . .  It’s the dirty task nobody wants to deal with.  Look, roll up your sleeves and get it done. This guy not only eats the ugly food (does-the-drudgery), but he sucks it up and calls his friend back after the experience.  In fact, the telephone call to the friend is one of the more interesting elements.  You are going to go through some bad experiences with good people.  Don’t burn the relationship over the circumstances.  Pick up the telephone and keep the dialogue going.  You just don’t know when you will do business with that person again.

BPM TAKEAWAY#6:

  • DON’T HESITATE TO COMPLETE THE DRUDGE WORK

  • DON’T BURN A BRIDGE FROM ONE BAD EXPERIENCE

  • BUSINESS – IT’S THE RELATIONSHIPS, STUPID

 

Bonus:  See Ed Piskour’s hip-hop-family-tree for a graphic take on the origins.  Special thanks to Warloq (from the BPM) for supplemental research.

 

Strategic vs. Tactical + “` “` “` nature of the long run

What separates the men from the niños

is a big failure or a fly Benzino

I’ve had all of that, yo se lo que te digo

Gotta be there in the long run for my hijos

Sen Dog   Stand Up Diary of a Mad Dog

Takeaway #151:  Sen Dog knows what he is talking about and he will certainly be there for his and your kids.  This is a long range game not a short-term Bertrand model of downward spiral price-cutting.  If you are in it for the long run and a continued share of the monopolistic profits for you and your successors, you need to build a sustainable model and avoid a colossal failure with short term profit thinking.  Be strategic, not simply tactical – today and in the long run.

Ironically, however, sometimes being strategic requires thinking functionallly, but acting strategically (Click Extra 2 below)

Extra 1: Read 6 habits of strategic thinkers: http://www.inc.com/paul-schoemaker/6-habits-of-strategic-thinkers.html

Extra 2: S&B: Think Functionally, Act Strategically