3/ If nurtured well, business partnerships create positive feedback loops that help rapidly grow a business
Consider the case of Apple, famously vertically integrated company that makes its own OS, processor & phone components that most companies typically purchase from vendors
4/ However, their iPhone App Store is proof that even Apple realizes that it can’t thrive without partners.
Apple supports many thousands of 3rd party software developers who create millions of amazing app for the iPhone.
5/ These apps wouldn’t have been possible without the iPhone.
Similarly, the iPhone wouldn’t have been as successful as it, if it didn’t provide the multitude of functionality that its users have now come to expect because of all the 3rd party apps available on the platform.
6/ So, the iPhone helped the developer community build a business on top of it, and with that, iPhone benefitted massively.
7/ A common mistake that entrepreneurs make is to focus exclusively on end-customers while ignoring to build long-term, genuine partnerships with other businesses.
8/ While customers are obviously important, partners play a vital role in opening new markets, expanding the value delivered to customers, and preventing customers from switching to a competitor.
9/ To make good partners who can help grow your business, start by understanding the motivations and drives of potential partners.
Do they want money from you? Do they want access to your customers? Or do they want a promotion or marketing help? Maybe they want guidance?
10/ After understanding their motivations, support their business as if it was yours.
Once partners become enabled around your business and you give them what they want (training, exposure, $$), they will work hard to grow their business, which in turn will grow your business.
11/ 🧠
Remember: play the long game by treating your partners’ business as if it was your own business and they will do the same.
If COVID infection rate is 0.04% after first dose of vaccination, getting the first shot to everyone in highly dense areas may be the best strategy for India right now.
We need a tsunami of vaccinations right now.
Why wait until 1st May? Is our vaccine supply getting 100% used?
Even if you doubt the data, there’s no doubt that:
- Even one dose is much better (at preventing death and severe hospitalisation) than no doses
- There’s no cure for COVID, so vaccination is the best strategy for preventing total number of future deaths
Sadly the vaccination numbers are falling, at a time when they need to rise exponentially.
Depression is terrible, and severe forms of it could make people suicidal.
New research is finding that psychedelics are much more effective than anti-depressants at treating depression.
1/ For example, this randomised trial study that just came out found 70% of patients reduced depression symptoms within a week (as compared to anti depressant with 33% efficacy)