how to lead
The goal of the leader of a company is has keep the entire organisation committed to a common goal
Bob Fastenal
the pressure of time was already Weighing on everyone one day John Hench stopped by to check the progress on the coaches and had an idea which he brought up to Walt why don't we just leave the leather straps off Walt the people are
never going to appreciate all the close-up detail Disney treated Hench to a tart little lecture you're being a poor Com
... See moreFounders Podcast • #365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters
book it is written by Bob kierin who's the founder of fenol that book and the way Bob ran fenol all centers around this one idea that the leader of a company has to keep the entire organization committed to a common goal Costco's common goal is that we are going to commit to this everyday low
pricing strategy and they commit to it every single minut
... See moreFounders Podcast • #365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters
I let you do it this one time you'll do it again the contract with the customer which is very low prices must not be broken
Founders Podcast • #365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters
Costco gets this incredible deal better deal than they normally get when they buy 2 million pairs of designer jeans they wind up getting them for $22 so $10 less than Costco has sold the jeans for in the past so they offer this huge markup you could essentially mark it up another 50% and you'd still be half the cost of most other retailers so one of Costco's buyers recommends taking a higher gross margin than usual more than the normal 14% markup since no one would know so he says that the Jim Sagle
You have to have optimism. You have to have energy. You have to create positive energy. - Jeff Bezos
In hiring, value intelligence highly. Like focus, intelligence yields increasing returns.
Like focus, intelligence has a convex output curve — the smartest people can be an order of magnitude more productive than others who are only somewhat less smart. The key in hiring is to value potential skill rather than currently existing skill — and potent
... See moreJoe Lonsdale • Lessons from Peter Thiel
Peter Thiel
I'm going to talk about "Self-Renewal." One of your most fundamental tasks is the renewal of the organizations you serve, and that usually includes persuading the top officers to accomplish a certain amount of self-renewal. But to help you think about others is not my primary mission this morning. I want to help you think about yourselves
... See moreJohn Gardner • Personal Renewal
This is a wonderful intro.
Weird title
Bold statement
Reverses the initial focus
I'm curious now
a vendor who does not consistently
and voluntarily quote its lowest price to our buyers will be permanently discontinued as a purchasing source for Costco
Founders Podcast • #365 Nick Sleep's Letters: The Full Collection of the Nomad Investment Partnership Letters
I think this also why the Apple culture of secret works so well. On your most important values there can be no second chances. If I let you do it this once, then you'll do it again