One piece of advice from Charlie Munger: Draw your circle of competence, you have to figure out what you are capable of. If you play games that other people play well but you don’t know anything about, you’re doomed.
Recognize your strengths and compete only within your circle of competence. If you are really capable, you will know the boundaries. That is to say, if you don’t know where your circle of competence is, it can only mean that your ability is not enough. What you need to do is not to find the circle of competence, but to accumulate ability.
The account has not been deposited for two years, and started to deposit funds this month. Just like our company has not grown for two years, it has started to grow this year. The industry has declined by 20%. The opponent has died by 50%, and the extra 30% is the surviving people. On high-quality products and high-quality organizations, or to people who have done nothing and have nothing wrong to say, or to companies that have always survived
This year, a lot of logic has been tested. From traditional e-commerce to cross-border e-commerce and now live e-commerce, the core of growth is whether one-time users can be turned into lifetime users, whether low-frequency products can be turned into high-frequency products, and whether multiple Sexual advertising fees become brand equity, so that all the investment has accumulated
The platform is not unbreakable, just like Douyin is now strictly guarding against the loss of customers outside the station, but as long as people who do live broadcasts know that if users are not introduced into the private domain, they will die if they follow Douyin. Douyin’s values are not as good as Ali’s, and the internal chaos is far beyond imagination. No matter the loyalty of merchants and consumers is far lower than that of JD.com or even Pinduoduo, the fire is just fun, and the excitement is only temporary. In the end, it is user stickiness. , it depends on the choice of the merchant. Tencent is also the best choice for private domains.
Now the focus of business breakthroughs is content plus links plus products. Consumer goods brands need to think deeply about how to build trust. The meaning of high quality is no longer quality or service attitude, but precision. Brands that serve a small number of people think more than anyone else. Brand with good service, more comfortable days
Want to understand the idea, then less is more is especially important at the moment, there is still serious information asymmetry, this asymmetry comes from a fixed circle of friends or inertial thinking, just like last month, the category of nmn was decided to increase, and finally one delay in customs Months later, I communicated with several CEIBS students and found that they have better resources. The impediment caused by this information asymmetry requires us to communicate more openly and expose ideas
The pace of trying cannot be stopped, but the methods of trying are constantly escalating. Emotions are the least valuable. Self-improvement and continuous accumulation of ability are the best choices.
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