As a young football player, I was told “you play as you practice” meaning if you want to be a professional football player you must create the best habit of practice that you stick to and act on each week. Your consistent small actions will then compound and lead to your goal. This simple lesson from my coach has led me to an insight that counts in football as well as in life: Goals, choices, and habits shape our lives and the daily habits and choices we make have a compound effect on our...
4 months ago • 1 min read
It might be new to some but here is a bold statement…humans don´t make rational decisions. In traditional economics a person is expected to weight the benefits and drawbacks of an action and choose the option in their own self-interest. We have all been educated to think this is true in business as well as in life but everyone that have observed real life behavior of people know that this is not right. In the high-speed society that we live in today real-world choices are very often...
8 months ago • 1 min read
A couple of years ago I learned the difference between a cashsuck business and a cashflow business and that I a lot of times have sucked at making cash do to this little difference. Here is the difference between the two kind of businesses: In a cashsuck business you provide your service and then you get your money. In a cashflow business you get your money and then you provide your service. In a cashsuck business you only make money 3-4 times a year. In a cashflow business you earn money...
10 months ago • 1 min read
We tend to look for the new hot thing in business and believe that is where we find growth. That might be true for a minority of businesses but for the majority the future growth of a business is looking at the past. Meaning what have not changed and what have been around for a long time. Where this way of thinking can be used as a framework for taking strategic decisions inside a business, I will use it to celebrate all the boring business that nobody talks about, the ones that have not...
10 months ago • 1 min read
From my perspective there are four key elements entrepreneurs should consider when looking for a potential market. Look for easy identifiable customers Look for easy accessible customers Look for an underserved and neglected market Look for markets with large potential First, if you can´t describe your customers you can´t define a reliable set of characteristics about their behavior and pain points. Second, if you can´t reach your customers and access them in an affordable way your solution...
10 months ago • 1 min read
If you have a demand and a profit you have a business, if not you don´t. Sound quiet simple right, nevertheless, I have lived in the illusion of running a business without really having a demand and a profit many times during the last 20 years. Maybe because I would really love to run a business within a specific area but sometimes also because I have asked a lot of people about what they think of the business and almost every single person have said “yeah I know that problem and your...
11 months ago • 1 min read
To grow anything can be hard for anyone that don´t know how to use leverage. The first time I learned about this was at a wine producing farm on the Vulcan named Teide. While attending a field walk with the owner, I asked him: “Where do you put your work when producing wine?” He said at the 30 cm of soil below the surface…this is where the growth happens, what I leverage and where I put all my energy. If I cultivate it, water it, and take care of these 30 cm of soil my wine will grow and...
over 1 year ago • 1 min read
There might be different approaches to market a product to a target audience but what I have learned from my failures and successes there is one method that work very well. The niche of one method. This methodology is all about “niche down” a target audience or product. When you niche down a target audience the formula goes like this: Broad audience – niche – sub niche For example, if you’re a company selling running shoes you can choose to do this: Rather that targeting athletes (broad...
over 1 year ago • 1 min read
We tend to think that the thoughts we create about the world represent reality. That might be true in some cases but if you want to build and grow anything you have to learn to be real. Learn to be real begins with the experience and build backwards from there. This lets you get the experience right before you get the solution wrong. In my work and life in general the minimal perfect experience method has worked very well. The methodology goes like this: Fell the experience – Simplify the...
over 1 year ago • 1 min read