Category: Learnings

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Parkinson’s Law: Money Management

Chris Labs

How much toothpaste do you use when you have a brand-new tube of toothpaste? A big ol’ glop of it, right? But when you open that cabinet drawer and find a nearly empty tube… my oh my, how the game changes. It starts off with an insane amount of squeezing, twisting, and turning. […] With a precarious balance of biting, one hand squeezing and tube twisting, while your other hand somehow tries to get the brush bristles to scoop out toothpaste, you have a victory. Isn’t it funny how much we change based upon what is available? Here is what … Continue reading Parkinson’s Law: Money Management

Learnings

Parkinson’s Law: Time Management

Chris Labs

“Work expands so as to fill the time available for its completion.” If something must be done in a year, it’ll be done in a year. If something must be done next week, it’ll be done next week. If something must be done tomorrow, it’ll be done tomorrow. **Parkinson’s Law should not be considered carte blanche to set unreasonable deadlines. All projects take time-you certainly can’t build a skyscraper in a day, or a factory in a week. -The Personal MBA, here Continue reading Parkinson’s Law: Time Management

Learnings

Show your ability to help someone attain their goal and they will follow you.

Chris Labs

We’re all hungry for a map to joy, and when someone is courageous enough to draw it for us, we naturally follow. So when you ascertain your counterpart’s unattained goals, invoke. your own power and follow-ability by expressing passion for their goals – and for their ability to achieve them. –Never split the difference, p.231 Continue reading Show your ability to help someone attain their goal and they will follow you.

Learnings

Be on the lookout for Black Swans

Chris Labs

In negotiation, there are those things we don’t know that we don’t know, pieces of information we’ve never imagined but that would be game changing if uncovered. Maybe our counterpart wants the deal to fail because he’s leaving for a competitor. Hypothesize that in every negotiation each side is in possession of at least three Black Swans. Always ask yourself: “Why are they communicating what they are communicating right now?” Sometimes, your counterpart might be oblivious to a Black Swan or unaware of its importance. –Never split the difference, p.219 Continue reading Be on the lookout for Black Swans

Learnings

Go for the customer, and for the customer alone. Forget the wholesalers, jobbers, retailers, etc.

Chris Labs

And if customers want your product, the jobbers and retailers will flock by dozen to carry your product. They will come to you. Many of the wrecks in advertising come from trying to sell things over and over. One first sells to the jobber, and he demands a large percentage. Then he tries to sell to the retailer. He wants free goods and extra margins. Never forget that. Jobbers and retailers have their own brands. What trade they can influence is never directed toward products you control. If they can influence sales, they make four times as much on products … Continue reading Go for the customer, and for the customer alone. Forget the wholesalers, jobbers, retailers, etc.

Learnings

Where economy is a necessity most people like to defy it.

Chris Labs

When silk shirts cost $15 they became so common among laboring men that other classes went to broadcloth. My experience on cosmetics prove that a low price on perfumes, etc., does not appeal to the girl who should economize. She demands what the “best people” use. Many people around me, working at small wages, consider cost far less than I do. Suggest a thingto them because it is economical and you arouse opposition. You hurt their pride. But direct your appeal to those who do not consider cost and they like to be included. -My life in advertising, p.111 Continue reading Where economy is a necessity most people like to defy it.

Learnings

It is just as hard to sell at a half price as at a full price to people not converted.

Chris Labs

Instead, offer a free sample to those interested. Ask them to fill a request for a free sample. Ex: Inquiries for free samples may cost 25 cent each. Ask 10 cents for the samples, and the inquiries may cost you $1.25 or more. To gain that 10 cents you may be losing one dollar. -My life in advertising, p.94 Continue reading It is just as hard to sell at a half price as at a full price to people not converted.

Learnings

Never give advice.

Chris Labs

We have our own lives to live, our own careers to make. We have no way of measuring others’ desires and capacities. Some are weak. A discouraging word at a critical moment may change their entire course. Then the one who gives that word incurs the responsibility. I court no obligations of that kind. Advertising teaches us how fallible are our judgments, even in things we know best. -My life in advertising, p.60 Continue reading Never give advice.