Sunday, March 30th, 2014
In his epic commencement speech to the USC law school grads in 1994, Charlie Munger mentions “scale” 24 times.
The advantages of scale are “ungodly important”, he points out.
Benefits of Scale = Lower Costs, Higher Prices & Bets on New Markets
Benefits of scale include reducing costs, raising prices and testing new markets.
In a beer business, for example, Anheuser-Busch operates at such a higher volume than Anchor Steam beer (based in San Francisco), that …
Thursday, December 2nd, 2010
Below is a list of examples of effective Mission Statements and Vision Statements that I believe are clear.
As a reminder, an effective mission statement (or vision statement) should be:
- Answer the question: “Are we working on the right thing?”
See How To Write A Vision/Mission Statement, an article I wrote, for more on how to write one.
The largest high-quality content producer for digital media – locally, regionally, nationally,
and globally (as of 2011).
“To be the world’s most customer-centric company.”
Apple (back in the early days when they were Apple Computer)
“A computer in the hands of everyday people.” (this was from their early days)
Monday, February 8th, 2010
Numbers are so fascinating — I just realized that if Facebook were a country, it would be the third largest in the world (see rankings below).
For your business, it begs some of the following questions:
- Are you and your business prioritizing Facebook high enough?
- If you’re a U.S. business, should Facebook be your third priority (after China & India) in terms of emerging markets?)
- Who’s got more Internet users: Facebook or China or India?
- Who would you rather have as your customer-base: every person in the United States or every member of Facebook?
- Will Facebook rival China & India as a supplier to Walmart?
- Facebook is often described as closed — will Google face the same challenge of indexing Facebook content as it has indexing content of China?
Top 20 Countries in the World (by population)
- China 1,335,720,000
- India 1,176,791,000
- United States 308,639,000
- Indonesia 231,369,500
- Brazil 192,449,000
- Pakistan 168,679,000
- Bangladesh 162,221,000
- Japan 127,470,000
- Mexico 107,550,697
- Philippines 92,226,600
- Vietnam 85,789,573
- Germany 81,757,600
- Ethiopia 79,221,000
- Egypt 77,834,000
- Iran 74,196,000
- Turkey 72,561,312
- Dem. Rep. of Congo 66,020,000
Source: Wikipedia & Facebook reports