Price: Asking customers to pay top dollar for a product, especially if they aren’t experiencing the value to make it worth it can quickly wear thin with decision-makers. Product: many times, customers purchase a product based on what it can do to make their lives easier. If this product isn’t living up to expectations, or if promised features aren’t being delivered, the customer will churn. Competition: if you’re a SaaS firm, there will always be someone out there delivering the same thing and if their product becomes too appealing, there is often little you can do to pull them back.

Why do customers churn?

State of business: sometimes, factors at play internally make it impossible for a customer to continue their vendor relationships. However, this reason cuts just as deep as some of the others. Lack of value: a wide swath of reasons for customer churn falls under ‘lack of value,’ which, at its core, means that a customer isn’t seeing the promised outcomes from your solution. Access to leadership: If a customer does not feel like they are the most valued customer at your organization, they will often find a vendor who can provide this access.

Poor experience: Customer churn also relates to their onboarding and implementation experiences. If a customer cites a poor experience, it may be time to re-think your internal customer success strategies. Need: A customer may find they don’t require your product or services any longer. In this case, it’s helpful to pivot your solution to meet their needs for long-term partnerships better. No ownership: If a vendor partnership doesn’t have an internal owner at a customer organization, no one can push for a renewal or extension in a contract. In this scenario, the contact will often go dark

CSMs can prevent customer churn by constantly being on the lookout for warning signals and being diligent about proactive engagement. When customers do churn, do diligent follow-up and ask questions to understand better why this termination is occurring. By tracking why customers churn over time, your team can identify themes and repeating issues that may be contributing to customers leaving and then be proactive in solving them.

What can you do about it? 

While the best parts of working with customers involve forging strong relationships and engagement strategies, there is one downside to the role: customer churn

marketingandsales

Marketing & Sales

business

Business

product

Product & Design

10 Common Reasons Customers Churn – and What to Do About It  | ClientSuccess

70% of companies say it’s cheaper to retain a customer than acquire a new one. The old rule of thumb says it costs 5 times more to acquire a new customer than it did to retain one. Engaged consumers buy 90% more frequently, spend 60% more per transaction, and are five times more likely to indicate it is the only brand they would purchase in the future. Doing the right thing at the right time can help retain customers.

Why is customer retention important?

Ask yourself these questions. Do you know the reason why your customer is canceling? Is this a surprise for you or do you already know the issue? Can the issue be solved? Look deeper why weren’t you able to get in front of the issue earlier, what attempts to solve have you already made (because there is no use trying those again), and consider what you haven’t already tried.

Analyze what you know.

Collect the voice of the customers at risk. This will help you be aware of many important things including the reason your customer bought your product, why they stuck around, and what made them cancel. The following methods and campaigns can be used to learn more about your customers:<ul><li>Social listening</li><li>Surveys</li><li><a href="https://customersuccessbox.com/blog/net-promoter-score-nps-in-customer-success-and-its-relevancy/">Net Promoter Scores</a></li><li>Support tickets</li><li>Interviews</li></ul>

Gain an Understanding of What Customers Want

Set up a workflow to determine which triggers to use based on the churn risk factors you’ve identified. For SaaS providers, you might look for customers that haven’t logged into their account for X number of days, didn’t complete the onboarding, or have stopped using your product. Do your clients avoid answering your calls and your emails? Do they cancel their meetings with you or your reps? This might be a sign their emotional attachment is decreasing on par with their satisfaction.

Build Workflows Around Your Customer Churn Red Flags

Churn is inevitable. But you need to analyze the real reason for the churn which helps you build up solutions against it. Use your churned customers’ feedback to avoid mistakes if any. Also if a customer is not satisfied with your product. Don’t let that customer walk out the door before you know why. The feedback here is very valuable for you.

Talk to the customers who are leaving

If you know you can’t solve it, or if the customer isn’t worth saving, you should probably move on. Ask yourself this question, Is this customer worth all the effort you are taking to save them? It is obvious that you cannot solve every cancellation reason? Maybe sometimes it’s not enough to just have a great product that solves a real problem. Or your customers have low adoption on their side and cannot use your product to the fullest.

Move on when the time comes

Every good customer is worth an all-out effort to retain them. This article talks about ways to retain customers before they cancel your subscription.

Discover the world of business and economics.

economics

Economics

startup

Startups

How To Retain Customers Who Are On The Brink Of Churning

And when in doubt, it’s better not to mess with these systems. Starting a war to implement democracies is an example of messing with a complex system. Clueless politicians compare a local dictator not with the local alternatives but with a Norwegian prime minister. These people keep staying at their jobs even their reckless decisions because they don’t have skin in the game. Nobody paid anything for the Iraqi invasion or for supporting “Arab spring” failed uprisings.

Complex Systems Don’t Work With Simple Cause/Effect

Those who don’t take risks should never be involved in making decisions

It’s perfectly rational to overestimate some tail risks because you can’t consider them in isolation.  Driving after 2 glasses of wine once will not be extremely dangerous, but doing so every day is.When you measure tail risks in the laboratory you only consider one tail risks at a time, and that’s why their conclusions are wrong. Subjects are being rational in overestimating the risk because, chances are, they are likely already running several tail risks in their lives.

Overestimating tail risks makes sense

Betting harder with money you won and being more conservative with your own money makes sense because that’s how you survive. Thaler and other behavioral economists don’t get it because they see the world as a one-shot game instead of a series of repeated trades.

Mental accounting is correct

In societies, minorities can come to dictate the rules to the majority.This usually happens because of asymmetry or because when the majority is either too flexible, too accommodating, or too indifferent. A case of asymmetry is between smokers and non-smokers. A smoker can sit in a smoke-free area but a non-smoker cannot sit in a smoker area, so the non-smokers will prevail even if they are the minority.However, this can become an issue when the minority prevails because it’s more aggressive or more intolerant.

Minority Rule Is Destroying The West

It is the most intolerant person who imposes virtues on others precisely because of that intolerance. We need to be more than intolerant with some intolerant minorities. The West is currently in the process of committing suicide.

Employees display submission by going through years of personal deprivation. Givin' up 9 hours of one’s time for years, every day is the equivalent of domestication. And showing up on time every day is the sign of an obedient, housebroken dog. The question is whether you want to be a housebroken dog or a free wolf. However, being a wolf comes with risks. Wolves who seek their own paths have skin in the game.

Employees Are Broken, Submissive Fellas

it’s not the poor who are actually envious of the rich and it’s not the poor who first embrace communist movements. It’s usually the bourgeois and the intellectuals and the clerical class who first embrace communism. It’s because of jealousy.

It’s intellectual Who Are Jealous of The Super Rich

You often hear people saying that you are more likely to die by X silly thing -ie.: coconut falling- than by terrorist attacks or Ebola outbreaks but that makes no sense.People dying because of falling coconuts or people who die by drowning in their bathtub will never double from one year to the other -they are examples of mediocre stand-.But the effects from events in an extreme stand, say a huge virus outbreak or a series of terrorist attacks, can increase the death toll by several orders of magnitude.

The Idiocy of Naive Empiricism

#1 NEW YORK TIMES BESTSELLER * A bold work from the author of The Black Swan that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility In his most provocative and practical book yet, one of the foremost thinkers of our time redefines what it means to understand the world, succeed in a profession, contribute to a fair and just society, detect nonsense, and influence others. Citing examples ranging from Hammurabi to Seneca, Antaeus the Giant to Donald Trump, Nassim Nicholas Taleb shows how the willingness to accept one's own risks is an essential attribute of heroes, saints, and flourishing people in all walks of life. As always both accessible and iconoclastic, Taleb challenges long-held beliefs about the values of those who spearhead military interventions, make financial investments, and propagate religious faiths. Among his insights: * For social justice, focus on symmetry and risk sharing. You cannot make profits and transfer the risks to others, as bankers and large corporations do. You cannot get rich without owning your own risk and paying for your own losses. Forcing skin in the game corrects this asymmetry better than thousands of laws and regulations. * Ethical rules aren't universal. You're part of a group larger than you, but it's still smaller than humanity in general. * Minorities, not majorities, run the world. The world is not run by consensus but by stubborn minorities imposing their tastes and ethics on others. * You can be an intellectual yet still be an idiot. "Educated philistines" have been wrong on everything from Stalinism to Iraq to low-carb diets. * Beware of complicated solutions (that someone was paid to find). A simple barbell can build muscle better than expensive new machines. * True religion is commitment, not just faith. How much you believe in something is manifested only by what you're willing to risk for it. The phrase "skin in the game" is one we have often heard but rarely stopped to truly dissect. It is the backbone of risk management, but it's also an astonishingly rich worldview that, as Taleb shows in this book, applies to all aspects of our lives. As Taleb says, "The symmetry of skin in the game is a simple rule that's necessary for fairness and justice, and the ultimate BS-buster," and "Never trust anyone who doesn't have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them."

books

Books

politics

Politics

artsandculture

Society, Arts & Culture

From the bestselling author of The Black Swan, a bold book that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility 'Skin in the game means that you do not pay attention to what people say, only to what they do, and how much of their neck they are putting on the line' Citizens, artisans, police, fishermen, political activists and entrepreneurs all have skin in the game. Policy wonks, corporate executives, many academics, bankers and most journalists don't. It's all about having something to lose and sharing risks with others. In his most provocative and practical book yet, Nassim Nicholas Taleb shows that skin in the game, often seen as the foundation of risk management, in fact applies to all aspects of our lives. In his inimitable style, Taleb draws on everything from Antaeus the Giant to Hammurabi to Donald Trump, from ethics to used car salesmen, to create a jaw-dropping framework for understanding this idea. Among his insights: For social justice, focus on symmetry and risk sharing. Minorities, not majorities, run the world. You can be an intellectual yet still be an idiot. Beware of complicated solutions (that someone was paid to find). Just as The Black Swan did during the 2007 financial crisis, Skin in the Game comes at precisely the right moment to challenge our long-held beliefs about risk, reward, politics, religion and business - and make us rethink everything we thought we knew.

Nassim Nicholas Taleb is an accomplished writer whose work has resonated with readers around the world. Nassim Nicholas Taleb has published several books that explore a range of topics, from fiction to nonfiction, and has received critical acclaim for the ability to weave compelling narratives. Nassim Nicholas Taleb's writing style is known for its depth and authenticity, and has earned quite a loyal following of readers.

Nassim Nicholas Taleb

Skin in the Game

Abundance is a paradox. Environments of abundance are bad for the median consumer but extremely good for a small number of conscious ones. Average consumers are doomed to the tyranny of instinct. Meanwhile, consumers at the top are propelled by unlimited access to nutritious food and information.
The best metaphor is health, where obesity rates and the number of people in incredible shape are both rising. That’s why 71% of American adults are obese, while the people I see at Equinox in Manhattan have bodies that are as sculpted as a Greek statue.

Abundance: Both Good And Bad

<ul>
<li>Americans are overweight, not because of scarcity but because of abundance — just like the news. </li>
<li>At the same time, wealthy and health-conscious Americans have never been in better physical shape. </li>
</ul>
The healthiest people control their diet with surgical precision. They have access to state-of-the-art workout facilities, wearable health technology, and fresh foods to match their dietary goals. They walk with six-pack abs and arms like the Incredible Hulk, while they walk with the can’t-lose swagger of Connor McGregor at a UFC fight.

Two Worlds At The Same Time

News and food consumption are near-perfect metaphors. We already use terms like “food for thought,” “I need to digest an idea,” and “she has a thirst for knowledge.” This is also why writing is so healthy for the mind. Just as you’ll improve your food diet if you start cooking, you’ll improve your information diet if you start writing.Just as eating healthy is an everyday battle, the Internet makes it hard to find nutrient-dense information. It’s absolutely possible, but it demands deliberate effort. The Internet increases variance in outcomes. More good and more bad.

Food Is Like News

Gresham’s Law is a finance concept that states that bad money drives out good money until only bad money is left. This law can explain why the median consumer reads low-quality information online. On the Internet, low-quality content drives out high-quality content, as the most wide-read articles are polarizing and emotionally jarring. First, they distort the truth by eliminating nuance and adding emotional charge to important topics. If you check almost any major publication, the most popular stories are opinionated and fear-inducing, drawing readers in.

Gresham’s Law 

The Explore Tab on Twitter is the most important newspaper in the world. It’s littered with celebrity gossip and exaggerated political drama — both of which yield a wide reach but incentivize empty content.
And yet, as the Paradox of Abundance predicts, Twitter is also one of the world’s top intellectual communities. It’s the bedrock of most of our social and intellectual life. It’s a place to make friends, raise your ambitions, and connect directly with people at the top of their fields. And yet, most people use Twitter to consume information with no nutritional value.

The Ocean Named Twitter

Ideally, a world of information abundance would bring the best to the top. Using a classic Econ 101 argument, competition should benefit consumers by improving quality. Practically, curation platforms would wade through millions of posts every day and highlight the best of the best. But that’s not what happens. On most platforms, low-nutrition content is the easiest to find and the most likely to be consumed. Superficial article recommendations sit at the bottom of thousands of articles, pollute the Internet, and tarnish the credibility of media publications.

Theory Vs Practicals

As a society, we can spend less energy following the news and become more informed about our society. The act of reading the news carries symbolic weight. 
People in power won’t fear the pain of a journalist’s bite unless the news maintains its legitimacy. Likewise, even if reading the news isn’t an efficient way to learn about the world, the news industrial complex might be a necessary inefficiency in society.

Less News

Skip the news cycle, but double down on measured consumption. Ignore society’s recommendations for what to consume and refresh your learning habits like you’re shaking an etch-a-sketch. 
Remember, what you should consume looks nothing like what you were taught to consume. Rebel against the mainstream spotlight, find some trusted curators and chart your own path instead.

Make Your Own Way

If you diet, invest, and think according to what the ‘news’ advocates, you’ll end up nutritionally, financially, and morally bankrupt.

The modern media environment helps a small number of savvy consumers, just as it destroys the lives of millions of mindless consumers who are paralyzed by fear, anger, and misinformation. Careful consumers use the information at their fingertips to compound their wisdom while compulsive ones drown in a volcano of fire-burning rage.On the Internet, your rate of learning is limited not by access to information, but by your ability to ignore distractions. The people you follow online is a leading indicator of your success, your health, and your happiness.

The Minefield Of The Internet

David shares the paradox of abundance and how to make a healthy information diet for yourself. Read here.

Understand yourself and those around you.

psychology

Psychology

leadershipandmanagement

Leadership & Management

The Paradox of Abundance - David Perell

Technological disruption, VUCA (volatility, uncertainty, complexity, ambiguity) conditions fueled by the ongoing pandemic, and evolving organizational architectures are just a few of the major challenges businesses face today. As a learning leader, your role is to equip your workforce with the capabilities needed to stay competitive amidst these changes.
Being transformation-ready doesn’t mean adopting the latest technology to keep up with current trends. It’s about developing a learning culture that positions the entire organization to adapt to the inevitable unknowns the future will bring.

The State Of The Workplace

Does the culture produce and support insightful workers?There’s no guarantee that today’s knowledge will solve tomorrow’s problems or that skills will remain evergreen. But insightful employees can recognize when the nature of a problem shifts. They then use that comprehension to hone their skills and seek out fresh knowledge. These characteristics help workers face novel challenges, which allows the entire organization to transform as well.

Supporting Insightfulness

Does your culture extol growth mindsets?Many useless hours a spent by employees hiding their weaknesses. A learning culture fosters growth mindsets. In this type of organization, learning is not seen as a sign of weakness but of character. Failure is not the antonym of success, but part of the growth process.

A Growth Mindset

Is your culture collaborative and matrixed?Even the most insightful worker can’t do it all. Sometimes the time required to hone a new skill will be too great. In these instances, insightful workers need to connect with those whose complementary skills can be an asset.Far too often, the help they need is siloed away in a neighbouring department. And within the hyper-specialized architecture of many modern organizations, that can be a difficult barrier to cross.

Collaboration

Is your culture adaptable?It’s clear that transformation is the default condition of today’s business world. There will inevitably come a day when the tried-and-true no longer works. When this happens, reactionary organizations panic and falter. But transformation-ready organizations evolve, and that begins at the employee level. A learning culture provides time and resources for employees to hone the skills needed to adapt to changing market conditions and demands, skills like resilience and agility.

Adaptability

Is the culture nurtured by leaders at the organization?Leaders have an outsized influence on everyone in an organization. Directors who want their managers to learn and grow must model a willingness to do so. The same holds true for managers who want to see their team members improve.Leadership culture must shift from a group of “know-it-alls” to one of “learn-it-alls.” Learn-it-alls grant permission to admit fallibility and desire to grow.

Cultivation By Leadership

This culture shift requires developing leaders with <a href="https://www.psychologytoday.com/us/blog/the-questionologist/202103/are-you-intellectually-humble">intellectual humility</a> — they must be open to learning, commit to improving, and never use their intellect or position to discourage others. Teaching those skills will mean having open, honest conversations with key leaders as well as embodying intellectual humility yourself.

Intellectual Humility

A learning culture isn’t built overnight. Organizations must commit to intentionally developing employees, and that requires being strategic about how investments are made. To begin developing a <a href="https://bigthink.com/plus/5-tips-for-developing-an-effective-learning-culture-at-work/">culture of learning</a> at your organization, consider the following factors.

The Role Of A Leader

<ul><li>Maintain a consistent budget to gain buy-in by making the value of learning explicitly clear. </li><li>Write a mission statement that aligns your vision with organizational objectives, then choose and design programs with ROI in mind. </li><li>Plan ongoing initiatives to measure their impact, such as the use of qualitative feedback from employee surveys, and always be prepared to communicate on progress to goal. </li></ul>

Developing a Culture of Learning: Budget

It doesn’t matter how effective a learning program promises to be if employees don’t have the time to participate. For this reason, Google and others have instituted the 80/20 rule. They offer employees 20% of their time to learn, develop, and experiment with new ideas. This ratio can vary, but having a formal rule serves to convey the importance of learning.

Developing a Culture of Learning: Time

What you need to know in order to start building a culture of learning

teamwork

Teamwork

career

Career

Creating A Culture Of Learning 

By building a learning culture, L&D leaders can equip their organizations to adapt to a business world that is transforming before our eyes.

Having a learning culture positions an entire organization to adapt to the inevitable unknowns the future will bring. 

corporateculture

Corporate Culture

education

Learning & Education

travel

Travel

How to create a learning culture in the workplace

Do you remember the excitement of getting your first Gmail account? If my memory serves me right, my first one dates back to 2004. The Gmail invite represented a friendship token from my boyfriend back then, who only got five of them to spread. Its scarcity made it valuable. Years later, he became my husband — funny coincidence.

When Gmail Was Not For Everyone

See, it doesn’t matter that anyone can have it, as long as only one may own it. Pretty dope, is it? Here the circulating supply is plenty, but having it doesn’t make you rich. Hence, the token immutably vouching the ownership is the valuable asset and not the item itself.

Nfts For Dummies

So to recap, NFTs use scarcity of ownership to increase their value regarding the digital asset the token is assigned to. Cryptocurrency and stocks also are finite in supply, and sometimes (even if it’s only perceived) scarcity influence their price. And the same goes with collectables — they become more expensive as there’s a limitation of supply (i.e., the rare Mercedes-Benz Grosser 770).

Scarcity Makes Economy Roll

Study the top writers on these topics and strive to be better than them. Let’s take Tim Denning, my favourite example. If you want to be better than Tim at personal development, then you really need to top up your game. So, when it comes to me, I probably stand no chance (I better write about horses if I want to shine.)

#1 Tip To Become A Valuable Writer

Find your own angle, and don’t be afraid to look at yourself as a special human being. I’m sure there is something that makes you stand out in a crowd. Find it, and put it in writing. Maybe you are a painfully direct individual in just the right ways, you are witty, charming or like to throw in facts to support your arguments. It doesn’t matter. Whatever makes you special as a person, replicate it in your writing.

#2 Tip To Become A Valuable Writer

Discover a new niche. Maybe you are really good at writing about horses (apparently I like exemplifying on horses just as much I like using Tim Denning in my plastic examples). So, write about horses and create a community around this topic. I imagine there are not a lot of writers writing about horses today. It helps to be passionate about the topic because it makes writing more effortless, but if research and documentation is your cup of tea, then it’s equally good. It will just take you longer.

#3 Tip To Become A Valuable Writer

For the 4th tip and the more important one check out the original article.<a href="https://medium.com/wholistique/how-can-understanding-scarcity-increase-your-value-as-a-writer-5909cb094b8e">Read more.</a>

#4 Tip To Become A Valuable Writer

Story published in Wolistique about writing and scarcity

Do you remember the excitement of getting your first Gmail account? If my memory serves me right, my first one dates back to 2004. The Gmail invite represented a friendship token from my boyfriend…

writing

Reading & Writing

communication

Communication

How can Understanding ‘Scarcity’ Increase your value as a Writer?

Your product isn’t perfect, and that’s probably ok. In most cases, the perfect product doesn’t exist, so you just need to have the best available option.

Your product doesn’t need to be perfect

If the perfect option existed, they’d buy it. Since there’s no such thing as the perfect offering, people are happy to settle for the Next Best Alternative.

If you need a new phone, you probably have an idea of what the perfect phone would be. It doesn’t exist, and so your “next best alternative” is likely going to be something like the iPhone 13 or the Pixel 6. They’re both imperfect, but one of them might be what you consider to be the best choice available.Your product or service offering is the same. It’s not perfect, and people shouldn’t expect it to be. In fact, if you aren’t ashamed of those shortcomings, it can help your customer better appreciate what you have to offer. It’s not unlike<a href="https://www.mickmel.com/if-you-dont-say-no-your-yes-is-meaningless/"> saying “no” to help give your “yes” more power</a>.

The Next Best

Take any product that is considered to be best in class, and you can quickly find some issues with it. The iPhone doesn’t offer some of the flexibility of Android. A Tesla doesn’t have the same range as gas-powered cars. Gmail is missing some features that other alternatives provide.

Your product isn't perfect, and that's probably ok. In most cases, the perfect product doesn't exist, so you just need to have the best available option. Take any product that is considered to be best in class, and you can quickly find some issues with it. The iPhone doesn't offer…

Your product doesn't need to be perfect - Mickey Mellen

To be a founder, you have to be world-class in something. Make sure you’re spending the majority of your time doing that thing; this is your ‘zone of genius’.
<ul>
<li>Not compromising will allow you to be a valuable contributor for a much more extended period of time and avoid burnout.</li>
<li>Believe it or not, there are passionate people that are world-class in the work you don’t enjoy doing. Outsource this work to the right people.</li>
</ul>

No Need To Be a CEO To Be an Effective Founder

Free time is an incredibly valuable asset – a full calendar can be good for productivity but not creativityCreativity starts with an empty calendar, but eventually, your calendar gets filled up with execution and a busy calendar is the death of creativityHaving control of your time in a creative job, assuming you’re self-motivated, is the ultimate hack.

Time Is More Valuable Than Money

The companies that succeed are always reinventing themselves and their productsRegardless of positional title, creative people within a company need to have the opportunity to control their time in a way that optimizes and maximizes their creative potentialIf you let operations bog down the subconscious mind of a creator, their creations will never come to fruition.

A Creative Person Needs Space

Be free of mind and free of time. Boredom leads to creativity.

<ul><li>Traditional CEO: raise money, communicate the strategy, recruit and retain the team</li><li>Product CEOs: provide product vision</li><li>Sales CEOs: provide sales leadership</li></ul>Discussing burdens as a CEO is hard as our board could lose faith in you and your employees could stop following youThere is incredible pressure, because many times the investors are investing in the founder just as much as the product.

Being A CEO

CEO is the job you take because there is no other choice, you don’t trust anyone but yourself to make the venture successful<ul><li>CEO is a high-stress, people management role.  </li><li>The CEO is the company psychiatrist, always dealing with people issues.</li></ul>

A Profile Born Out Of Necessity 

If you’re the founder of a company, you’re probably world-class in somethingThere is someone out there that is world-class in the things you don’t want to doDon’t just hire off of skill though, you will only truly hand over the reins if you believe they have a like-minded ‘founder mentality’Recruit founders who have failed through no fault of their ownAn example could be a founder who had the best product in a category that just didn’t have a market fit. These people have a ‘founder mentality’ and haven’t been burnt out yet.

The Founders Mentality

You want to spend all your time on that thing you are good at. Everything else is a necessary evil that should be outsourced.

If I had to articulate how happy I am today, you’d have to lock me up, you can’t have people this happy running around in society.

Naval no longer keeps a calendar but is busy all day long. But, he prioritizes whatever feels most important to him at that moment.<ul><li>Even when you have to do unpleasant things, at least you do them without them being forced upon you.</li><li>You can only live this lifestyle if you’re willing to disappoint people’s initial expectations of you.</li></ul>

Naval's Calendar

In this episode, Matt Mochary and Naval Ravikant (founder and former CEO of AngelList) talk about why you don't need to be the CEO. Naval explains how he realized it wasn't the role he wanted at AngelList, what he did to get over his fear of stepping back, and how much more value he can (and does) create now that he is no longer in that role.If you are not loving being CEO, know that there is likely someone who can do the job better than you, and you can create much more value in the role that you actually love. FULL VIDEO 🎥https://youtu.be/WJuQLzr6PJQRESOURCES ✨- Zone of Genius: https://docs.google.com/document/d/11UVWJox31Ani8Cq6Ymhm6DiVUiv5vPkOQd8ZdGpYmbs/editSOCIALS 🐦- Follow Naval on Twitter: https://twitter.com/naval- About Naval: https://en.wikipedia.org/wiki/Naval_Ravikant- Check out Naval's Website: https://nav.al/- Follow Matt on Twitter: https://twitter.com/mattmochary- About Matt: https://en.wikipedia.org/wiki/Matthew_Mochary- Learn More About the Method: https://www.mocharymethod.com- Podcast produced by: https://www.twitter.com/_rpgbx- Podcast edited by: https://twitter.com/MedleysMindWant to join the Mochary Method software team? 💻- Apply at https://mocharymethod.com/careers

personaldevelopment

Personal Development

motivationandinspiration

Motivation & Inspiration

podcasts

Podcasts

Matt Mochary, Author of The Great CEO Within and coach to high-profile tech investors and CEOs, hosts the Mochary Method. Where each episode he interviews high-profile tech investors and CEOs, getting to the root of how they successfully run their companies.

The Method

Naval Ravikant, co-founder of AngelList, explains why you don't need to be CEO

Podcast: Naval Ravikant, co-founder of AngelList, explains why you don't need to be CEO

Human life is full of struggles, there are no two opinions in this, it is meant to say that the responsibility of man to fulfill different obligations at different stages of his age falls on his shoulders. Money can be only earned by doing some business or job. In such a situation, when the person’s studies are complete, then he considers what it would be good for him to do in job or business. Or there are some people who ask this question a bit by turning around, what is the difference between a job and a business. In both these questions, a man wants to know what can be better of these two,

Business Vs Job

What will be suitable for a person depends on various factors like education, interest, goals of life, experience, skills, family status, personal circumstances, etc. Therefore, it is better for different people to have different earning options like business for someone or job for someone. But in general, there is a misconception among people that business is better than a job, whereas this is not true. It may be appropriate to do business for someone depending on various factors. So today through this stash we will try to understand the difference between job and business.

Factors For Choosing Career

So that person aware of these differences can be able to decide for themselves which source of employment will be better for them. In business, the entrepreneur is his own boss, whereas during the job the person has to work under some boss.

<ol><li class="ql-align-justify">The person who is doing business of his own is responsible for making his own decisions and Is free to implement.Whereas the person doing the job needs the approval of the boss to make decisions and implement them.</li><li class="ql-align-justify">A person who is doing his own business if he makes some mistake during his work,there is no one to scold.While the person doing the job has to face scolding if he makes a mistake.</li><li class="ql-align-justify">The person who is doing his own business,the time to go to office according to his business and personal needs can decide on its own. Whereas person doing the job has to go to his office at a specified time.</li></ol>

Difference Between Job And Business

4. The next difference between job and business is related to profit or loss.5. No one can fire the person doing business as they are the owner. Whereas the person doing the job can be fired if they does not meet the company expectations.6. Any person, even an uneducated person can start a business by authorizing someone for it Also no qualification is required. While different qualifications are required for different jobs.7. Since the entrepreneur is managing almost all types of profiles, he has more learning opportunities. Whereas the person doing the job has the freedom to work

8. The person in business, whatever he is doing and getting, he is satisfied with that while the person in the job However much he gets, he still feels. That he is not getting it according to his hard work and efforts.9. The people doing their business are not forced to follow the rules made by someone else in that company, rather they set their own rules. While the job requires the person to strictly follow the rules made by the company and the employer.10. An entrepreneur is also employing others by doing his business while the person doing the job can fill his family Is nurturing.

11. There are few businesses that can start with very little investment, most businesses require a huge amount to start. While in job if person is capable, he can get it for free only through interview. 12. A business person needs to see the management of many tasks so he can bear the stress of managing different tasks. Should have the capability of While the person in the job is responsible only for his profile

End Of The Topic

Whether you are choosing job or business just choose by your interest. Because in long term your passion and interest will help you.

Just as it is necessary to know the depth of water before landing in water if the water is too deep and the person landing in water can not swim

Business vs Job

Starting is Hard. A few ideas on how to get started

What I have learned from Beginning: Practical Steps to Starting

Understanding what the market looks like?  <ul><li>Is someone else already doing this? </li><li>What can you bring to the table?</li><li>How is it different?</li></ul>

One - Do Your Research

Understanding your "WHY" Is key to finding true success.  Simeon Sinek talks about this in his book "WHY". Having a well-established Why puts reason and sets the tone for how you will execute on your goals!

Two - Grasping Your Why

Habits are the key to staying on track with progress.  Having good habits will enable you to be successfull

Three - Establish Your Habits

What matters most? Having a greater yes allows you to be informed about what to say NO to.

Four - What is your greater Yes?

Starting is hard. Here are some things I learned along the way!

Podcast | Beginning To Begin

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