Multiple Streams of Income

A multiple stream of income is not another job where you are selling your time for money. MSIs should be ideas and systems dependant. Once set in motion, MSIs should provide a recurring, passive and residual stream of income.

Scalability

Scalability is the process of magnifying and multiplying the effect of your value creation.

Magnify: Reach out to many people at one time.

Multiply: You only do something once and your product will be available forever to create value to others.

Liquidity is King

For any marketplaces, liquidity is a critical element other than your typical supply and demand equation. Liquidity is the reasonable expectation of selling something you list or finding what you’re looking for. I often write about the importance of liquidity in my posts about marketplaces. In Greylock Partners’ Simon Rothman’s words,

Liquidity isn’t the most important thing. It’s the only thing.  Until you reach liquidity, you’re vulnerable. After, you have the opportunity for dominance. The first marketplace to reach liquidity wins.

When users from other platforms are shifting to use your service, and when your users are evangelizing for you, you know you are definitely on to something. This echoes something which Joon from Pigeonhole mentioned in a sharing session which I will always remember: “How do you know when you have reached product/market fit? When your users do your pitch for you.”

http://e27.co/why-i-will-put-my-money-on-carousell/

London dishes up hot dogs with champagne

When Sandia Chang lived in New York a few years ago, she had a favorite way of dining with her friends.

“We used to collect great wines; we were sort of wine geeks. We’d always get together and go somewhere where you could bring your own wine. So we’d always end up at some Chinese food place in Chinatown, a pizzeria in Brooklyn or some brassiere down in the East Village.”

Being a self-proclaimed “wine geek,” Chang’s usual fare of spaghetti bolognese was rarely accompanied with cheap vino. Instead, she would enjoy a bottle of Sassicaia, usually sold for $800 in fine restaurants.

“It was always simple food, but we’d always crack open a great wine with it. That drastic difference in things makes it fun and cool,” Chang says.

It was this chasm between the casual and classy that encouraged Chang to open Bubbledogs in London last year: a 40-seat bar/restaurant that serves gourmet hot dogs with a selection of grower champagnes and sparkling wines.

It is certainly a niche market in London – a city fast-becoming a capital obsessed with high-end fast-food.

New York popcorn shop “Populence” founder Maggie Paulus, created wine infused popcorn. The popcorn is available in New York City’s West Village location.

U.S. fine burger chains Shake Shack and Five Guys opened their first U.K. stores earlier this month, in the hopes of taking on U.K. restaurants like Meat Liquor, Honest Burger and Byron, which all cater to a growing crowd of Londoners who prefer to fork out a bit more cash for a decent burger and bun.

Chang – whose hot dogs cost between £6 and £7.50 ($9 and $11.25) – said good value is the key. After all, the champagne to wash down that gourmet hot dog starts at £6 ($9) per glass.

“I think people are very conscious of their money. They want something for value,” she told CNBC. “They could pay £3 for a dirty hot dog down the street on a cart, but they know in their head that it’s not great quality. It’s a balance. If you had £7, what would you get? You’d make sure what you got was quality.”

John Eckbert, the director of operations for Five Guys U.K., said it was the selection of their ingredients that set them apart. “What Five Guys wants to say is: if you’re having your mom over for dinner and you were cooking burgers, how would you do it? You’d pick the best meat, the best buns, buy the best tomatoes and lettuce, and carefully prepare them. That’s a really different mindset from McDonald’s.”

Both Bubbledogs and Five Guys spent a long time sourcing their meats and buns from England to ensure they got their specialities just right.

“All these places,especially single-item or single-concept places, you know that if they are only selling one thing, it’s probably the best they do,” Chang says.

bubbledogs
Sandia Chang, founder of bubbledogs

Different Approaches

But despite a number of similarities, Five Guys and Bubbledogs have markedly different approaches when it comes to the future of the business.

Five Guys currently has 1,200 restaurants in the U.S., with another 200 expected by the end of the year. In the U.K., they plan to open new stores in Angel in North London and Westfield shopping center in West London, as well as one in Reading.

Eckbert says that in its first week, Five Guys’ first U.K. restaurant was churning out about 1,500 burgers a day and that “the store has broken records for first-week sales for a Five Guys by meaningful margins.”

Bubbledogs on the other hand, isn’t going anywhere. It focuses on grower champagnes (champagnes produced by the same estate that owns the vineyard from which the grapes come), so there is a small pool from which Chang chooses the bottles available in the restaurant.

She says that some only produce around 8,000 bottles a year, which means they can run out and she struggles to get any more.

The champagne is key for Chang because that’s where her passion lies.

“Our sales are 50-50: 50 wet and 50 dry,” she says. “And at the moment people do come here because of the hot dogs, which is what I wanted because if it wasn’t for the hot dogs they wouldn’t come in and try the champagnes.

“I’m hoping in the future people will realize our champagne list and will come for the champagne equally as they come for the hot dogs.”

The power of mornings: Why successful entrepreneurs get up early

When running a business, it may seem like there are never enough hours in the day. Tapping into the power of mornings, a time of day when there are less demands, might be the key to increasing your productivity.

For 15 years, Starbucks President Michelle Gaas has set her alarm for 4:30 a.m. to go running. Gretchen Ruben, popular author of The Happiness Project (Harper Perennial, 2011) wakes up at 6 a.m. and works for an hour before her family rises. Time-management expert Laura Vanderkam highlights what makes mornings special and how we can use them more efficiently in her book What The Most Successful People Do Before Breakfast (Portfolio Trade, 2013). Here are a few benefits to getting out of bed earlier.

You are less likely to get distracted in the morning. An entrepreneur’s day fills up fast. If you wait until the afternoon or evening to do something meaningful for yourself such as exercising or reading, you’re likely to push it off the to-do list altogether. “There are going to be reasons why you can’t tackle a personal priority at 4 p.m. — things have a lot less likelihood of coming up at 6 a.m.,” says Vanderkam.

You have more willpower early in the day. Even if you aren’t a morning person, you may have more willpower in the early hours than later in the day. “Willpower is like a muscle [that] becomes fatigued with over-use,” says Vanderkam. During the course of the day as you’re dealing with difficult people, making decisions and battling traffic, you use up your willpower, leaving you feeling depleted toward the end of the day.

Mornings give you the opportunity to set a positive tone for the day. If you’ve ever slept in past your alarm clock or forgotten your kids’ lunches on the counter, you know that starting off the day with a failure can bring down your mood and affect your productivity at work. Vanderkam says waking up earlier allows you to start the day with a victory and set the tone for a happier and more productive day.

If the thought of waking up at sunrise makes you cringe, Vanderkam recommends these four steps to transform even a habitual night owl into a morning person.

1. Keep a time journal. Vanderkam says one of the reasons people say they don’t like mornings is that they stay up too late. She recommends keeping a time journal for a week to show where you may be using your time inefficiently. Vanderkam finds when many self-professed night owls look at their time journals, they often find they aren’t spending their evening hours productively or doing anything particularly enjoyable.

2. Imagine your perfect morning. Imagine what you would do if you had an extra hour in the day. Would you exercise? Read the newspaper rather than simply skimming the headlines? “[Getting up earlier] isn’t about punishing yourself. You will not get out of bed if you don’t have a good reason to do it,” says Vanderkam.

3. Plan your morning. Once you have decided what you want to do with your extra time, plan how to execute it, and set as much up as possible the night before. For example, if you want to exercise in the morning, lay out your clothes the night before, or gather the ingredients for your breakfast.

4. Build the habit slowly. Vanderkam says you will likely hit the snooze button and sleep in if you try to switch your habits drastically. So instead of setting your alarm for 5 a.m. when you normally get up at 7: 30 a.m. set the alarm for 10 minutes earlier each day. To make sure you don’t lose sleep, go to bed 10 minutes earlier each night. If you have trouble hitting the sack on time, set a bedtime alarm.

 

http://www.entrepreneur.com/article/226910

Adam’s lessons

Lesson #1

1. Rejection is part of the game
2. Got to learn to sell. Overcome the discomfort by realizing that it’s a product that truly adds value to people’s lives

Lesson #2

Opportunities are all around. It involves looking at a problem or an unmet need and finding a way to solve it for people.

Lesson #3

When you are committed and resourceful enough, there is always a way.

Lesson #4

People are your greatest wealth resources. It’s not what you know, it’s who you know.

Lesson #5

The power of leverage. Accelerate your own success by leveraging on the success of others.

Lesson #6

A business is a money making machine that works with or without you.

Be a business owner is different from being self employed. Self employed is running a one man show, selling time for money. You are the one constantly making the product or providing the service. Because you are the one doing all the work, there is a limit to how big your company can grow. You cab never retire or take a holiday. The moment you stop working, the company cannot function.

Lesson #7

Building a brand. Building a business system that can be replicated into other markets. Building the right team to run the business.

Lesson #8

Entrepreneurs who succeed are those with the strongest WHY. Why do this business. What do you want it to do for you. What is your primary motivation. If the why is strong, there will be motivation and determination to find the how.

海底捞8000元起家的秘密

海底捞8000元起家的秘密:看了后真的感触很深,道理我相信做领导的都懂,可是有几个是能够真正发自内心地做到呢!献给各行各业不管大小企业的领导们,希望看后深思。
海底捞,何许人也?

海底捞是一家誉满京城的火锅连锁店,发迹于四川简阳,成名于北京、西安等地。韩国、小日本等据此认为中国的餐饮服务水准达到国际先进水平。

1994年,海底捞8000元起家,如今60多家店,年营业额十几个亿。

北京的单店平均每天接待客户2000人。

客户去吃火锅,等一两个小时是很正常的事情。

三伏天也要排队吃火锅,而别的火锅店生意清淡。

每天3-5桌的翻台率创造了业界翻台率最高记录。

50%的客户回头率,10%的员工离职率。

很多投资银行要给海底捞钱,他却不要。

无数同行高薪挖海底捞的员工,都挖不动。

无数同行学习他,模仿他,甚至派出卧底,上演无间道,也学不到精髓。

必胜客、肯德基200人组团学习,海底捞认为这是大象向蚂蚁学习。

为什么会这样?为什么达到这种效果的只有海底捞,而不是河底捞、江底捞。因为江河不够深。那海底捞有哪些深的地方,我们一起破解海底捞的成功密码。

海底捞的成功并没有运用高端的科学技术,连中端都谈不上,充其量就是一大众科技,就是火锅嘛。也没有聘用高学历和高科技人才,绝大部分都是来自农村的小学、初中和中专生,中专毕业的都很少,大学生就更不用说了。毫无疑问,这是奇迹。

什么是奇迹?奇迹就是把简单的事情做到极致,奇迹就是农民工团队创造了中国最知名的火锅品牌。

经过深入分析发现,表面看来,海底捞的成功密码其实很简单,就是两招。这两招我们企业界天天在喊,天天在叫,但大多只是喊喊口号,喊而不做,做而不久,久而不精。那么这两招是什么?八个字:员工价值和客户价值。

海底捞不断创造员工价值和客户价值。于是,海底捞就火了。有了员工价值,员工就会用心工作,然后去创造客户价值,客户就源源不断,愿意安心等几个小时吃火锅。听起来就这么简单,做起来却只有极少数企业能做到。

在整合营销的今天,对外营销创造客户价值,对内营销创造员工价值。

员工价值和客户价值,用四个字概括一下,就是:价值营销。

所以,海底捞的成功密码就是——价值营销。

价值营销成就未来!

1.客户价值

这个客户价值是客户获得总价值和总成本之差。很显然,这个差数越大,客户价值越大,海底捞的生意越火爆。在营销大师科特勒的理论里,它叫做客户让渡价值,肖恩?米汉教授认为干脆叫客户价值比较爽一点。至于客户价值的准确定义,我们不搀和,这是那些博士们干的事情,而且都是写给博士看的。

海底捞创造了哪些客户价值?这个就可以让你眼花缭乱。

你等餐的时候,提供免费水果、免费茶水、免费美甲,免费上网,免费玩牌,免费手机充电,免费电动车充电,免费擦鞋,免费上厕所。厕所里有很多免费的服务,比如刷牙,补妆。吃饭时送头发皮筋、套袖、围裙、手机套、热毛巾。价钱公道,分量足,还能点半分菜,没吃没动的还可以退。

不管你的服务多好,如果客户觉得比较贵,客户的总成本高了,这个客户价值就少了,所以价格公道是基础和前提。当然这是对我等普罗大众而言。

还能点半分菜?去其他火锅店吃饭都是只能点一份的,我说我们吃不完,点半份。服务员说,不行,没有半份的。吃饱了,还有一份菜没动,我说退了吧。服务员说不行,拿出来了就不能退的。当时,心里只有一个字:郁闷。

海底捞就是敢于突破常规,为客户创造价值。

出去吃饭等位的现象很常见,但大都是干巴巴滴在那里等。为什么海底捞弄出这么一个情况,把等待变成一种享受?因为海底捞改变了餐饮业的一些游戏规则,也就是为客户提供更多的价值。

这就让我想起可爱的马云同志。淘宝当时在易趣面前完全是一个刚刚诞生的婴儿。易趣是一家全球最大的、正处在巅峰时刻的行业领跑者,在中国市场上已经获得了90%以上的市场份额,而淘宝仅仅用了两年时间就夺取了超过70%的份额,并迫使前者进行战略重组。这也是奇迹,商业史上的伟大奇迹。因为淘宝改变了游戏规则,为客户提供了更多的价值。易趣是向卖家收费的,可淘宝宣布免费,既然免费那肯定要来的。我们最喜欢免费,所以,海底捞这么多免费项目一定不可以错过。

这些免费的贴心的服务还是容易模仿的,可有些东西真的不容易模仿。

一家人带着残疾孩子来吃饭。服务员看着家长边刷火锅边喂孩子忙不过来,就主动帮他们喂孩子。餐后,家长一定要让服务员去家里做客。

小孩子不吃火锅,要吃混沌。服务员就去外面买来混沌,送给小孩吃,小孩吃完混沌,接着吃火锅。一家人高兴得不得了。要是别的店,可能会想,你吃混沌关我什么事,有这么好的火锅不吃却要吃混沌,我看就是混蛋。

服务员发现客人是给一位孕妇过生日,马上按照家乡的传统准备一个生日礼物:苹果,莲子,花生,大枣,还有宝宝图。客户感动得一塌糊涂。

这就让我们想起了乔。吉拉德的经典案例。一次一个女客户来买车,交谈中得知这个女性客户是想送给自己一个生日礼物。老乔马上叫人准备一束玫瑰,祝女客户生日快乐。客户当时感动得要死。当然车子肯定是买了。这叫感动客户,就是客户价值。

这样的故事太多,很多让你看了不禁泪牛满面。

很多人问海底捞的老板,你这么做成本增加很多,能赚到钱吗?海底捞老板说,第一波客人只够保本,我们是赚后面等待客户的钱。

看来还是一句老话:吃亏是福啊。

表面上是吃亏了,但是不要只看到眼前。马云当时如果只看到眼前利益,跟着收费,那就没有今天的淘宝。如果海底捞面对等待的客户,还是让他们干巴巴滴等,也不会有今天的海底捞。

这就是客户价值,海底捞的客户价值还有很多。客户价值是企业的核心,谁要是把这个做好了,谁就能成就百年老店。

2.员工价值

客户价值都是员工创造的,员工只有用心工作,才会有更好的客户价值创造出来。这就要一个基本条件——你得给你的员工创造价值。

海底捞的老板后来感悟到,其实员工也是“客户”,是公司的“客户”。要让客户满意,就要先让员工满意。

那些把员工当机器人的经济人假设理论都统统见鬼去吧。

你给员工创造多少价值,员工就会给客户创造多少价值。

把员工也看作“客户”,那么员工价值是什么。

现在很多人认为,员工价值就是看员工给企业做了多少有价值的事情。这完全是以企业为中心的立场。这是不厚道的。

同样,我们可以这样认为,员工价值是员工的总价值和总成本之差。员工总成本就是付出的全部劳动,包括体力劳动和脑力劳动,包括时间,体力,精神、情感等。总价值是货币工资、福利、情感、信任感、个人成长、成就感等。当然,成就感、成长、福利、情感、信任感等是有交集的,具体怎么交,懒得管它。

海底捞的货币工资比同行的平均水平要高不少,更重要的是海底捞从福利、情感、信任和成长上不断创造出员工价值。员工觉得价值高了,自然很满意,很忠诚,很用心工作,于是客户价值就创造出来了。

我们看看海底捞为员工提供的衣食住行。国家最关注的是国计民生——衣食住行,这些方面搞好了,国家就稳定了。我们现在吃的行的穿的都没有什么问题,就是住的问题太严重,房子让我等老百姓深感生活鸭梨巨大。

海底捞非常重视员工的衣食住行,关注好每个细节。比如在员工穿的方面,海底捞让员工穿得体面,穿出快乐和荣誉感。

海底捞工装不是几十块钱的衣服,都是100多的。你不要以为100多很便宜,高定基老师作为知名的资深讲师,穿的衬衫也是100多的。据说,海底捞员工的鞋子都是名牌运动鞋,具体什么名牌我没有调查,不过给员工买鞋的确实很少。

海底捞有个谢英大姐说,当时去海底捞是因为喜欢那里的工服,那是在四川简阳的时候。当时是最好看的工服,像空姐一样,很漂亮,走到马路上回头率很高。有些海底捞的员工还穿着工服回家相亲。后来才知道,海底捞的工服都是请当地最好的裁缝,按照时装画报上的款式,给员工量身定做的。有几个老板会这样做?

我们经常去消费,去购物,去一些装修很高档的地方,本来是很好的一个环境,可一进去员工穿的衣服很随意,很难看,连买东西的心思都受到影响。

比如住的,更让员工舒服和感动。

海底捞把员工当成兄弟姐妹,不给员工租地下室,租的都是城里人住的正规住宅,空调、暖气、电视、上网一个都不少,而且离公司的步行时间不超过20分钟。

员工宿舍专门有人服务,打扫卫生,换洗被单,简直就是星级酒店的服务水准。当北京的暖气没有来的时候,公司给每人配发暖气袋,晚上专门有人把热水装进去,提前放到被窝里。在家里,是不是只有妈妈才会这样做?家的温暖,员工感动不已,只好用心工作来报答公司。

当企业把员工的心抚慰好了,员工就会用心滴工作,回报公司。这就是员工价值的意义。要创造客户价值,就先创造好员工价值。
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