Saturday, April 20, 2019

The Stanford Business Challenge

A wise man’s questions contain half the answer........ Gabirol

Most Stanford students fail this challenge. Here's what we can learn from their mistakes.
You’re a student in a Stanford class on entrepreneurship.Your professor walks into the room, breaks the class into different teams, and gives each team five dollars in funding. Your goal is to make as much money as possible within two hours and then give a three-minute presentation to the class about what you achieved.

If you’re a student in the class, what would you do?

Typical answers range from using the five dollars to buy start-up materials for a makeshift car wash or lemonade stand, to buying a lottery ticket or putting the five dollars on red at the roulette table. But the teams that follow these typical paths tend to bring up the rear in the class.

The teams that make the most money don’t use the five dollars at all. They realize the five dollars is a distracting, and essentially worthless, resource.So they ignore it. Instead, they go back to first principles and start from scratch.

They reframe the problem more broadly as “What can we do to make money if we start with absolutely nothing?” One particularly successful team ended up making reservations at popular local restaurants and then selling the reservation times to those who wanted to skip the wait. These students generated an impressive few hundred dollars in just two hours.

But the team that made the most money approached the problem differently. They realized that both the $5 funding andthe 2-hour period weren’t the most valuable assets at their disposal. Rather, the most valuable resource was the three-minute presentation time they had in front of a captivated Stanford class.

They sold their three-minute slot to a company interested in recruiting Stanford students and walked away with $650.

The five-dollar challenge illustrates the difference between tactics and strategy. Although the terms are often used interchangeably, they refer to different concepts. A strategy is a plan for achieving an objective. Tactics, in contrast, are the actions you undertake to implement the strategy.

See You at the Top

Friday, March 08, 2019

Innovation is Not Adoption

The ‘fastest learner wins’ because we see in uncertain and changing markets that experimentation, rapid-cycle feedback, and the ability to adapt are competitive imperatives--------Ann Schulte (P&G)

Virtually every organization is wrestling with innovation and market adoption;  with the growth of
artificial intelligence-driven algorithms and predictive analytics the role of marketing have diminished in recent years.
AI downstream tactics of generating awareness and encouraging repeat purchase are insuficient compared to the fullbusiness-growing power of upstream marketing function

A robust marketing trend analysis reveals the cultural, social, and psychological dynamics that should be addressed in the development and adoption of an innovative product.
Adoption involves creating markets, understanding people’s fundamental needs and drivers to identifying customers, and developing the entire consumer and usage ecosystem.

Mainstream customers are compelled less by what a product does and more by what the product helps them do

Lets analyse some products with slow market adoption:
Google Glass - not marketed through consumers ecosystem
Sony Ereader - not supported by complimentary integrated service (unlike kindle)
3D Printing - no depth of market engagement
Virtual Reality - headsets are too big and clunky
Bitcoin - mystified and complicated

Innovation alone is not enough to initiate the adoption life cycle, but marketing remains an essential aspects of innovation between early adopters to the wider group of people who will form a viable, valuable customer base.

See You at the Top

Tuesday, February 19, 2019

Optimize your Social Influence

Radio and Television ..... have succeded in lifting the manufacture of banality out of the sphere of handicraft and placed it in that of a major industry.................Nathalie Sarraute 1902-99

The best leaders are experts. Influence is less about selling and more about leading, which requires high levels of confidence, which in turn requires knowledge and experience. This concept can be expressed mathematically as
Knowledge + Experience = Confidence to Lead. You can control the first part of the equation; the second comes with time.

Form an opinion; Expertise leads to confidence, while helping others leads to trust which leads to sales.

Let's analyze data from the Pew Research Center:

71% of adult internet users/58% of entire adult population. Usage among seniors continues to increase. Some 56% of internet users ages 65 and older now use Facebook.
Women are also particularly likely to use Facebook compared with men, a trend that continues from prior years.

23% of adult internet users/19% of entire adult population. 
Twitter is particularly popular among those under 50 and the college-educated: men, those ages 65 and older, those who live in households with above average annual household income, college graduates, and urbanites.

26% of adult internet users/21% of entire adult population. 
Almost every demographic group saw a significant increase in the proportion of users.
Most notably, 53% of young adults ages 18-29 now use the service. Besides young adults,
women are particularly likely to be on Instagram and those who live in urban or suburban environments.

28% of adult internet users/22% of entire adult population
Women continue to dominate the site: fully 42% of online women are Pinterest users, compared with just 13% of men.While Pinterest remains popular among younger users, other demographic groups include those living in the lowest- and highest-income households, those withat least some college experience, and suburban and rural residents.

28% of adult internet users/23% of entire adult population
The site continues to be particularly popular among college graduates, those in higher-income households and the employed. College graduates continue to dominate
use of the site. It is the only platform where those ages 30-64 are more likely to be users than those ages 18-29.

People who are social support providers “altruists” are more likely to be successful influencers.

See You at the Top

Sunday, January 20, 2019

The Future of HealthCare

The time will come when medicine will organize itself into an undercover dictatorship.
------Benjamin Rush

"You feel like an object on a conveyor belt. You don’t feel human. Medical science has decided, that’s the way it is."----------A Patients Narrative

Healthcare is currently being tansformed where Automation replaces physical labor and
Artificial Intelligence supplant human intellect.

For instance;a doctor can’t remember the last 200 research articles on a specific heart disease, but a computer can

Patient's/Doctors contact will soon be minimal or non existence, consider the following technological breakthough:
  •  Wearable biosensors(blood pressure cuff or pulse oximeter) gather key vitals from a
     patient and then wirelessly communicate that information to the patient or a third-party monitor.
  •  Bioprocessors, will not only gather information, but could also diagnose illnesses and even
     forecast our health. They’ll give us instantaneous analysis of various parameters
  •  Robot (STAR) surgical technology, which doesn’t depend on a doctor’s manual capability. STAR was developed to apply
     stitches with the same level of skill as top surgeons, all through the use of a 3D imaging system and precise touch
     sensors—all on its own.
  •  Nanorobots that invade the cells of cancerous tumors via the bloodstream, delivering medication directly to target sites. The nanorobots travel from the injection site of a patient through flagellated, self-propelling bacteria, which contain cancer-fighting drugs. The nanorobots detect hypoxic areas—spots in the tumors that lack oxygen—and deliver powerful medication in precise locations to keep the surrounding healthy  tissues and organs intact.
  •  Biometric devices will make internal monitoring systems transparent, allowing us to use the information these systems are gathering for more successful preventative daily care and better react to medical emergencies.
Biosynthetically grown organ replacement, skin would be grown or 3D printed if a graft for a third-degree burn is needed.

Whilst pushing the limits of evolution, we haven’t discovered a way to prolong youth......

See You at the Top

(Excerpts: Physician by Rajeev Kurapati. MD)