Thinks 692

Annie Duke on quitting: “A common misconception about quitting is that it will slow your progress or stop it altogether. But it is the reverse that is actually true. If you stick to a path that is no longer worth pursuing, whether it’s a relationship that isn’t going well, or a stock that you’re invested in that’s losing money, or an employee that you’ve hired who isn’t performing, that is when you lose ground. By not quitting, you are missing out on the opportunity to switch to something that will create more progress toward your goals. Anytime you stay mired in a losing endeavor, that is when you are slowing your progress. Anytime you stick to something when there are better opportunities out there, that is when you are slowing your progress. Contrary to popular belief, quitting will get you to where you want to go faster.” [via Shane Parish]

NFX: “What city you live in. Who you date or marry. Which job you choose. What clothes you wear. We all think we make these choices ourselves. It certainly feels like we’re in full control. But it turns out that our choices — both in our startups and in our lives — are more constrained than we think. The unseen hand in them all is the networks that surround us and the powerful math they exert on us…Our networks are our most valuable resource. They are the way our lives express themselves. Those networks are made up of all the people you care about, the people you, inspire, move, and help to live their best lives.”

John Reed: “When you first start to study a field, it seems like you have to memorize a zillion things. You don’t. What you need is to identify the core principles – generally three to twelve of them – that govern the field. The million things you thought you had to memorize are simply various combinations of the core principles.” [via Morgan Housel]

Anurag Wadehra: “Customer loyalty pyramid is how a tech business cultivates a cohort of loyal customer champions. A pyramid is an apt metaphor for building loyal customers. Most customers are sporadic users of a company’s product or service, some find enough value to become repeat purchasers, fewer still engage repeatedly in depth to become delighted users or passionate buyers. Every B2B tech business can build a loyalty pyramid for their customers, and help them climb up the spiral path. To do so, you have to start with three elements of the pyramid: a bedrock of customer relationships, the promise of your brand, and the reality of your tech product or service offering.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.