Hidden Psychology Of Why Customers Come Back

Apply these 3 simple technique to get more customers:

  1. Labor = Love (Ikea Effect): the more time or work we put into something, the more valuable it becomes for us
  2. Consistency counts (turn the small sign to the big sign): it is much easier to use the past behaviour and previous experiences into something bigger rather than having a big ask upfront
  3. We avoid cognitive dissonance (Aesop’s Fable – Fox and grape hanging from the vine): if it is too hard to reach, it must be bad and we don’t like it

Source: http://techcrunch.com/2015/01/19/the-hidden-psychology-of-why-customers-come-back/

 

The 18 Mistakes That Kill Startups

Have these in mind when you are starting out:

  1. Single Founder
  2. Bad Location
  3. Marginal Niche
  4. Derivative Idea
  5. Obstinacy
  6. Hiring Bad Programmers
  7. Choosing the Wrong Platform
  8. Slowness in Launching
  9. Launching Too Early
  10. Having No Specific User in Mind
  11. Raising Too Little Money
  12. Spending Too Much
  13. Raising Too Much Money
  14. Poor Investor Management
  15. Sacrificing Users to (Supposed) Profit
  16. Not Wanting to Get Your Hands Dirty
  17. Fights Between Founders
  18. A Half-Hearted Effort

Source: http://www.paulgraham.com/startupmistakes.html

 

10 Reasons Why Some People Won’t Succeed

1. They don’t understand the value of time.
“Any successful entrepreneur knows that time is more valuable than money itself.” – Richard Branson

2. They don’t do things that are in alignment with their goals
“It’s not hard to make decisions when you know what your values are.” – Roy Disney.

3. They never step up to the plate
“People seem to think that success in one area can compensate for failure in other areas, but can it really? True effectiveness requires balance” – Stephen Covey

4. They have self-imposed limitations
“You are what you are by what you believe” – Oprah Winfrey

5. They are good at making excuses
“If you can’t make it good, at least make it look good” – Bill Gates

6. They lack class or social intelligence
“You can easily judge the character of a man by how he treats those who can do nothing for him.” ― Johann Wolfgang von Goethe

7. They are procrastinators
“Only put off until tomorrow what you are willing to die having left undone” ― Pablo Picasso

8. They don’t’ take action
“Do something today, your future self will thank you for” – Les Brown

9. They can’t face adversity
“All sunshine and no rain makes a dessert” – Arabian Proverb

10. They are apathetic
“So, because you are lukewarm, and neither hot nor cold, I will spit you out of my mouth” -Revelation 3:16

Source: http://www.lifehack.org/articles/productivity/10-reasons-why-some-people-will-never-suceed.html?utm_content=bufferee483&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

 

 

What Type of Hardware?

There are many to name, but these are the ones not to build:

  • FUNware is not a business
  • EASYware is not defensible
  • SAMEware is not positioned well enough
  • SOLUTIONware great technology in search of applications
  • VAPORware when not a complete scam, it is naively optimistic and end up not shipping
  • LAMEware did not keep its promise and ships a mediocre product
  • FAILware kept on specs but successfully built something nobody wants
  • LATEware handled manufacturing so badly it shipped after the competitors it woke up
  • LOSSware has been priced badly and can’t make a profit. Can it cross the Bridge of Death? (http://techcrunch.com/2013/11/28/financing-lean-hardware/)
  • BOREware gets boring after a short time
  • FUTUREware is so futuristic that the majority won’t buy it until many moons have passed
  • LOCALware is so tied to the local ecosystem it can’t be done elsewhere

Source: http://techcrunch.com/2014/04/06/the-lean-hardware-startup-investing-in-hardware-startups/

 

The Four Agreements

1. Be impeccable with your words
Speak with integrity. Say only what you mean. Avoid using the word to speak against yourself or to gossip about others. Use the power of your word in the direction of truth and love.

2. Don’t take anything personally
Nothing others do is because of you. What others say and do is a projection of their own reality. When you’re immune to the opinions and actions of others, you won’t be a victim of needless suffering.

3. Don’t make assumptions
Find the courage to ask questions and to express what you really want. Communicate with others as clearly as you can to avoid misunderstandings, sadness and drama. With just this one agreement, you can completely transform your life.

4. Always do your best
Your best is going to change from moment to moment; it will be different when you are healthy as opposed to sick. Under any circumstances, simply do your best, and you will avoid self-judgement, self-abuse and regret.

By Don Miguel Ruiz