• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
Farnam Street Logo

Farnam Street

Mastering the best of what other people have already figured out

  • Newsletter
  • Podcast
  • Books
  • Articles
  • Log In
  • Become a Member
TweetEmailLinkedInPrint

Sources of Advantage

Brain Food – No. 538 – August 20, 2023

Timeless ideas and insights for life. (Read the archives).

FS

On avoiding foolish opinions:

“The most savage controversies are those about matters as to which there is no good evidence either way. Persecution is used in theology, not in arithmetic, because in arithmetic there is knowledge, but in theology there is only opinion. So whenever you find yourself getting angry about a difference of opinion, be on your guard; you will probably find, on examination, that your belief is going beyond what the evidence warrants.”

— Source

Insight(s)

Value-based marketing:

“Marketing is about values. This is a very complicated world. This is a very noisy world. And we’re not going to get a chance to get people to remember much about us. No company is. And so we have to be really clear what we want them to know about us. One of the greatest jobs of marketing the universe has ever seen is Nike. Remember Nike sells a commodity. They sell shoes. And yet when you think about Nike …. In their ads they don’t ever talk about the product. … What does Nike do in their advertisements? They honour great athletes. That’s who they are. That’s what they are about. Our customers want to know who is Apple and what is it we stand for. Where do we sit in this world. What we’re about isn’t making boxes for people to get their jobs done … “

— Steve Jobs

Tiny Thought

Twelve sources of advantage:

  1. Raw talent/intelligence – Some people are just naturally better and smarter.
  2. Hard work – Some people work harder.
  3. Differentiation – Seeing the world differently. Doing something different. Reading different books. Interpreting the same information differently.
  4. Process / Discipline – Creating a process and following it. Working out every day is a great example.
  5. Talent Collector – The ability to hire the best people and get the most out of them.
  6. Energy – Only an advantage when mixed with integrity.
  7. Curiosity
  8. Patience – A lack of patience changes the outcome.
  9. Ability to take pain – Are you willing to look like an idiot to get better? How much risk are you willing to take, AND, importantly, can you handle the losses?
  10. Temperament – Keeping your head when everyone else is losing theirs.
  11. Partner – Having the right partner – not only in business but, more importantly, in LIFE. The right partner will 10x your life. The wrong one will hold you back.
  12. Luck

Most of these are within your control.

(Click here to share on Twitter)

ETC.

Why you have no time:

“Better technology means higher expectations, and higher expectations create more work.”

— Source

Product First or Code First?

“Programming is about building products that solve problems for users not about writing beautiful code for its own sake … If the product doesn’t work well, the code is not good.”

(While this is about programming, the insight applies to many things.)

— Source

Thanks for reading,
— Shane

P.S. A visualization of hot air rising.

Discover What You’re Missing

Get the weekly email full of actionable ideas and insights you can use at work and home.


As seen on:

Forbes logo
New York Times logo
Wall Street Journal logo
The Economist logo
Financial Times logo
Farnam Street Logo

© 2023 Farnam Street Media Inc. All Rights Reserved.
Proudly powered by WordPress. Hosted by Pressable. See our Privacy Policy.

  • Speaking
  • Sponsorship
  • About
  • Support
  • Education

We’re Syrus Partners.
We buy amazing businesses.


Farnam Street participates in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising commissions by linking to Amazon.