Takeaway #144 Murs + 9th Wonder inspire lessons in Goodwill and pricing power

***

You must give respect to get respected

Treat others how you wish to be treated

You give what you get and the cycle is completed ***

 Murs & 9th Wonder     Pusshhhhh

Takeaway 144:  Golden Rule is obvious, but the fact that it is a cyclical environment that allows for recycling of goodwill is lost.  It is not zero-sum gain.  Remember it is not always an exchange for an exchange.  Goodwill builds overtime.  It becomes more valuable the more you do it.  It takes time because good will builds your reputation.  Your reputation builds your brand.  Your brand is the product that allows you to be valued at a premium.  Give to get.

Takeaway #198: empire of innovation

***

That’s what ya get when ya misuse what I invent

Your empire falls and ya lose every cent

For tryin to blow up a scrub

Now that thought was just as bright as a 20-watt light bulb***

Wu-Tang Clan    Protect Ya Neck

Takeaway #198Imitation is the sincerest form of flattery, but makes lousy business in the age of innovation.  Copycat status and second mover advantage cannot build bank.  Get your own style, that’s the right-bright idea.

What Innovation Looks Like:  Stanford-alumni-fund-new-innovation-center-in-Ghana

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.