A few short questions predict the future of a business
- How likely are you to recommend this to a friend?
- Can you raise your prices without fear?
- Would you push all your chips in the middle for this?
But one of my favs is, “do you eat your own dog food?”🧵👇
'Do you eat your own dog food' tells you a lot about a company.
- Should you buy from this company?
- Should you work at this company?
- Should you invest in this company?
It's not just the answer that matters, but also the speed, forcefulness & emotion behind the answer
After watching the movie #SuperSizeMe, where @MorganSpurlock eats all his meals from @McDonalds for 30 days straight…were you more likely to buy from, work at or invest in the company?
Or think about when you heard Brian Chesky, CEO of @Airbnb said he was going to live on @AirBnB going forward. Were you more likely to buy from, work at or invest in @AirBnB?
This is why I have a monthly subscription to @MalibuMylk , because I trust @brittanyfuisz to the right thing by me regarding her awesome flax milk, because she’s doing the right thing for her and her family
In the #Godfather, Michael Corleone says the famous line, “It’s not personal. It’s just business.”
Ironically, the fact that it was both business and personal is what made Michael Corleone such an effective Don.
You want to buy from, work at or invest in a company for whom it is both business and personal.
You want a business led by Michael Corleone, not Sonny or Fredo
Category POV/Problem: Their mission is to use tech/design to connect the world through fitness, empowering people to be the best version of themselves anywhere, anytime
They have a great solution, but they haven’t articulated the problem
Not because I don't believe in the tech & @tesla...
...but b/c I've studied consumers for decades & context is king
2x Not all consumers are the same re: driving
- Some drive aggressively vs. cautiously
- Some are always early vs. late
- Some drive angry & competitively vs. carefree
Solving for FSD is hard enough. But who you are as a driver will determine whether or not you like FSD
3x Context is king
- Some routes are familiar vs. new
- Some dayparts are easy driving vs. frustrating traffic
- Some drives are peaceful solo vs. noisy with teens
- Some cars are huge vs small and nimble
Throw in weather and other drivers and we have exponential complexity
I started dabbling in real estate investing 20 yrs ago
- I bought/sold ~10 single families, condos, multi-units
- Primary residence, rentals, timeshares, new & old
- I lost big during the 2008 crash
I finally hit a grand slam!
Here’s what I know now that I wish I knew then 🧵👇🏻
Step 1: Build a stomach for a longer-term horizon.
As immigrants, we grew up in a 2 bed/1 bath condo.
I hated how small it was. But my folks saved a lot…
…to pay for private school & college for my bro & me.
It taught me how to sacrifice today for tomorrow.
Step 2: Own >50% (e.g., control your destiny)
My worst real estate $ was as a minority owner.
I went into a multi-unit residential rental w/ 10+ others.
The lack of info, control & liquidity was unnerving.
I ended up losing over half of my capital. Never again.