# migrations

dir: embeddings_queue
filename: 00001-embeddings.sqlite.sql
hash: d3755dfd232be8e8301f4d7fcfb3a486
sql:
CREATE TABLE embeddings_queue (
    seq_id INTEGER PRIMARY KEY,
    created_at TIMESTAMP NOT NULL DEFAULT CURRENT_TIMESTAMP,
    operation INTEGER NOT NULL,
    topic TEXT NOT NULL,
    id TEXT NOT NULL,
    vector BLOB,
    encoding TEXT,
    metadata TEXT
);


dir: sysdb
filename: 00001-collections.sqlite.sql
hash: 38352d725ad1c16074fac420b22b4633
sql:
CREATE TABLE collections (
    id TEXT PRIMARY KEY,
    name TEXT NOT NULL,
    topic TEXT NOT NULL,
    UNIQUE (name)
);

CREATE TABLE collection_metadata (
    collection_id TEXT REFERENCES collections(id) ON DELETE CASCADE,
    key TEXT NOT NULL,
    str_value TEXT,
    int_value INTEGER,
    float_value REAL,
    PRIMARY KEY (collection_id, key)
);


dir: sysdb
filename: 00002-segments.sqlite.sql
hash: 2913cb6a503055a95f625448037e8912
sql:
CREATE TABLE segments (
    id TEXT PRIMARY KEY,
    type TEXT NOT NULL,
    scope TEXT NOT NULL,
    topic TEXT,
    collection TEXT REFERENCES collection(id)
);

CREATE TABLE segment_metadata (
    segment_id TEXT  REFERENCES segments(id) ON DELETE CASCADE,
    key TEXT NOT NULL,
    str_value TEXT,
    int_value INTEGER,
    float_value REAL,
    PRIMARY KEY (segment_id, key)
);


dir: sysdb
filename: 00004-tenants-databases.sqlite.sql
hash: 048867ce8fcdefe4023c7110e4433591
sql:
CREATE TABLE IF NOT EXISTS tenants (
    id TEXT PRIMARY KEY,
    UNIQUE (id)
);

CREATE TABLE IF NOT EXISTS databases (
    id TEXT PRIMARY KEY, -- unique globally
    name TEXT NOT NULL, -- unique per tenant
    tenant_id TEXT NOT NULL REFERENCES tenants(id) ON DELETE CASCADE,
    UNIQUE (tenant_id, name) -- Ensure that a tenant has only one database with a given name
);

CREATE TABLE IF NOT EXISTS collections_tmp (
    id TEXT PRIMARY KEY, -- unique globally
    name TEXT NOT NULL, -- unique per database
    topic TEXT NOT NULL,
    dimension INTEGER,
    database_id TEXT NOT NULL REFERENCES databases(id) ON DELETE CASCADE,
    UNIQUE (name, database_id)
);

-- Create default tenant and database
INSERT OR REPLACE INTO tenants (id) VALUES ('default_tenant'); -- The default tenant id is 'default_tenant' others are UUIDs
INSERT OR REPLACE INTO databases (id, name, tenant_id) VALUES ('00000000-0000-0000-0000-000000000000', 'default_database', 'default_tenant');

INSERT OR REPLACE INTO collections_tmp (id, name, topic, dimension, database_id)
    SELECT id, name, topic, dimension, '00000000-0000-0000-0000-000000000000' FROM collections;
DROP TABLE collections;
ALTER TABLE collections_tmp RENAME TO collections;


dir: metadb
filename: 00001-embedding-metadata.sqlite.sql
hash: 2b4cf52c4bb2676e21d6860a4409f856
sql:
CREATE TABLE embeddings (
    id INTEGER PRIMARY KEY,
    segment_id TEXT NOT NULL,
    embedding_id TEXT NOT NULL,
    seq_id BLOB NOT NULL,
    created_at TIMESTAMP NOT NULL DEFAULT CURRENT_TIMESTAMP,
    UNIQUE (segment_id, embedding_id)
);

CREATE TABLE embedding_metadata (
    id INTEGER REFERENCES embeddings(id),
    key TEXT NOT NULL,
    string_value TEXT,
    int_value INTEGER,
    float_value REAL,
    PRIMARY KEY (id, key)
);

CREATE TABLE max_seq_id (
    segment_id TEXT PRIMARY KEY,
    seq_id BLOB NOT NULL
);

CREATE VIRTUAL TABLE embedding_fulltext USING fts5(id, string_value);


dir: metadb
filename: 00002-embedding-metadata.sqlite.sql
hash: 12a570f7121b3a8ce750a2a7c36da20f
sql:
-- SQLite does not support adding check with alter table, as a result, adding a check
-- involve creating a new table and copying the data over. It is over kill with adding
-- a boolean type column. The application write to the table needs to ensure the data
-- integrity.
ALTER TABLE embedding_metadata ADD COLUMN bool_value INTEGER


dir: metadb
filename: 00003-full-text-tokenize.sqlite.sql
hash: f97ad6334aeaa8f419f01110b648b97a
sql:
CREATE VIRTUAL TABLE embedding_fulltext_search USING fts5(string_value, tokenize='trigram');
INSERT INTO embedding_fulltext_search (rowid, string_value) SELECT rowid, string_value FROM embedding_metadata;
DROP TABLE embedding_fulltext;


# embeddings_queue

created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3692c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "You Don\u2019t Need to Know It All As to methods, there may be a million and then some, but principles are fe\nw. The man who grasps principles can successfully select his own methods. The man who tries methods, \nignoring principles, is sure to have trouble. \u2014RALPH WALDO EMERSON, ESSAYIST AND POET One of\n the beautiful things about learning any subject is the fact that you don\u2019t need to know everything\u2014you onl"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36ac6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "y need to understand a few critically important concepts that provide most of the value. Once you have a \nsolid scaffold of core principles to work from, building upon your knowledge and making progress become\ns much easier. The Personal MBA is a set of foundational business concepts you can use to get things do\nne. Reading this book will give you a firm foundation of business knowledge you can use to make things h"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36aee-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "appen. Once you master the fundamentals, you can accomplish even the most challenging business goal\ns with surprising ease. Over the past five years, I\u2019ve read thousands of business books, interviewed hundr\neds of business professionals, worked for a Fortune 50 corporation, started my own businesses, and cons\nulted with businesses ranging from solo operations to multinational corporations with hundreds of thousan"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36b0c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ds of employees and billions of dollars in revenue. Along the way, I\u2019ve collected, distilled, and refined my f\nindings into the concepts presented in this book. Understanding these fundamental principles will give you\n the tools you can rely on to make good business decisions. If you invest the time and energy necessary t\no learn these concepts, you\u2019ll easily be in the top 1 percent of the human population when it comes to kno"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36b20-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "wing: \ufffd How businesses actually work. \ufffd How to start a new business. \ufffd How to improve an existing business\n. \ufffd How to use business-related skills to accomplish your personal goals. Think of this book as a filter. Inste\nad of trying to absorb all of the business information that\u2019s out there\u2014and there\u2019s a lot out there\u2014use this\n book to help you learn what matters most, so you can focus on what\u2019s actually important: making things h"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36b3e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "appen. No Experience Necessary People always overestimate how complex business is. This isn\u2019t rocket \nscience\u2014we\u2019ve chosen one of the world\u2019s most simple professions. \u2014JACK WELCH, FORMER CEO OF\n GENERAL ELECTRIC Don\u2019t worry if you\u2019re a complete beginner. Unlike many other business books, this\n book does not require any prior business knowledge or experience. I don\u2019t assume you\u2019re already the CE"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36b52-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "O of a large company who makes multimillion-dollar decisions on a daily basis. (But this book will still be v\nery useful if you are!) If you do have business experience, take it from many of my clients around the worl\nd who have MBAs from top schools\u2014you\u2019ll find the information in this book more valuable and practical th\nan anything you learned earning your degree. Together, we\u2019ll explore 226 simple concepts that help you t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36b98-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hink about business in an entirely new way. After reading this book, you\u2019ll have a much more comprehens\nive and accurate understanding of what businesses actually are and what successful businesses actually \ndo. Questions, Not Answers Education is not the answer to the question. Education is the means to the a\nnswer to all questions. \u2014BILL ALLIN, SOCIOLOGIST AND EDUCATION ACTIVIST Most business books"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36bc0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "attempt to teach you to have more answers: a technique for this, a method for that. This book is different.\n It won\u2019t give you answers\u2014it will help you ask better questions. Knowing what\u2019s critically important in eve\nry business is the first step in making good business decisions. The more you know about the essential q\nuestions to ask in your current situation, the more quickly you\u2019ll be able to find the answers you need to m"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36bde-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ove forward. Mental Models, Not Methods The limits of my language are the limits of my world. \u2014LUDWI\nG WITTGENSTEIN, PHILOSOPHER AND LOGICIAN To improve your business skills, you don\u2019t need to l\nearn everything there is to know\u2014mastering the fundamentals can take you surprisingly far. I call these fo\nundational business concepts mental models, and together, they create a solid framework you can rely on"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36bf2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "to make good decisions. Mental models are concepts that represent your understanding of \u201chow things w\nork.\u201d Think of driving a car: what do you expect when you press down on the right-side pedal? If the car sl\nows down, you\u2019ll be surprised\u2014 that pedal is supposed to be the accelerator. That\u2019s a mental model\u2014an i\ndea about how something works in the real world. Your brain forms mental models automatically by notici"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36c06-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ng patterns in what you experience each day. Very often, however, the mental models you form on your o\nwn aren\u2019t completely accurate\u2014you\u2019re only one person, so your knowledge and experiences are limited. \nEducation is a way to make your mental models more accurate by internalizing the knowledge and experi\nences other people have collected throughout their lives. The best education helps you learn to see the w"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36c1a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "orld in a new, more productive way. For example, many people believe things like \u201cstarting a business is ri\nsky,\u201d \u201cto get started, you must create a massive business plan and borrow a lot of money,\u201d and \u201cbusiness \nis about who you know, not what you know.\u201d Each of these phrases is a mental model\u2014a way of describi\nng how the world works\u2014but they\u2019re not quite accurate. Correcting your mental models can help you thin"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36c2e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 0, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "k about what you\u2019re doing more clearly, which will help you make better decisions: After learning the ment\nal models in this book, many of my clients have realized that their picture of what businesses are and how\n businesses work was inaccurate\u2014getting their venture off the ground would be far easier than they origin"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36c4c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 1, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ally imagined. Instead of wasting valuable time and energy feeling intimidated and freaking out, learning t\nhese concepts gave them the freedom to stop worrying and start making progress. This book will help you\n learn the fundamental principles of business quickly so you can focus your time and energy on actually d\noing useful things: creating something valuable, attracting attention, closing more sales, serving more cus"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36c56-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 1, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "tomers, getting promoted, making more money, and changing the world. Not only will you be able to creat\ne more value for others and improve your own financial situation, you\u2019ll also have more fun along the way.\n My \u201cPersonal\u201d MBA Self-education is, I firmly believe, the only kind of education there is. \u2014ISAAC ASIM\nOV, FORMER PROFESSOR OF BIOCHEMISTRY AT BOSTON UNIVERSITY AND AUTHOR OF OVER \nFIVE HUNDRED BOOKS People often ask me if I have an MBA. \u201cNo,\u201d I reply, \u201cbut I did go to business sc"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36c74-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 1, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hool.\u201d As a student at the University of Cincinnati, I was fortunate enough to participate in the Carl H. Lind\nner Honors-PLUS program, which is essentially an MBA at the undergraduate level. The program was ge\nnerously funded via scholarships, and as a result I had the remarkable opportunity to experience most of \nwhat business schools teach without the crippling burden of debt. I\u2019ve also been on the \u201cfast track to corp"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36c88-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 1, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "orate success.\u201d Through the University of Cincinnati\u2019s cooperative education program, I landed a manage\nment position at a Fortune 50 company\u2014Procter & Gamble\u2014 during my second year of college. By the ti\nme I graduated in 2005, I had an offer to become an assistant brand manager in P&G\u2019s Home Care divisi\non, a role typically reserved for graduates of top MBA programs. As I began my last semester of college, I"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36c9c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 1, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "started focusing less on my coursework and more on the future. My new job would require a solid unders\ntanding of business, and almost all of my peers and managers would have MBAs from top-tier schools. I b\nriefly considered enrolling in an MBA program, but it made no sense to pursue an expensive credential to \nget the kind of job I already had, and my responsibilities would be demanding enough without adding a lo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36cb0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 1, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ad of coursework by enrolling in a part-time program. While considering my options, I remembered a bit of\n career advice that Andy Walter, the first associate director I reported to at P&G, had given me: \u201cIf you put\n the same amount of time and energy you\u2019d spend completing an MBA into doing good work and improvin\ng your skills, you\u2019ll do just as well.\u201d (Andy doesn\u2019t have an MBA\u2014he studied electrical engineering in colle"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36cc4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 1, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ge. He\u2019s now one of the company\u2019s top global IT managers, responsible for leading many of P&G\u2019s larges\nt projects.) In the end, I decided to skip business school, but not business education. Instead of enrolling i\nn an MBA program, I skipped the classroom and hit the books, creating my own \u201cPersonal\u201d MBA. A Self-D\nirected Crash Course in Business Many who are self-taught far excel the doctors, masters, and bachelors"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36cd8-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36d00-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36d14-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36d32-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36d46-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36d5a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36d6e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "psychology, physical science, and systems theory. When my first day at P&G finally arrived, I felt prepare\nd to strategize with the best of them. As it turned out, my self-education served me well\u2014I was doing valu\nable work, making things happen, and getting good reviews. As time went on, however, I realized three ve\nry important things: 1. Large companies move slowly. Good ideas often died on the vine simply because t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36d82-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hey had to be approved by too many people. 2. Climbing the corporate ladder is an obstacle to doing grea\nt work. I wanted to focus on getting things done and making things better, not constantly positioning mysel\nf for promotion. Politics and turf wars are an inescapable part of the daily experience of working for a larg\ne company. 3. Frustration leads to burnout. I wanted to enjoy the daily experience of work, but instead I fe"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36d96-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "lt like I was running a gauntlet each day. It began to affect my health, happiness, and relationships. The lo\nnger I stayed in the corporate world, the more I realized I wanted out. I desperately wanted to work on my \nown terms, as an entrepreneur. The Wheat and the Chaff It is important that students bring a certain raga\nmuffin, barefoot irreverence to their studies; they are not here to worship what is known, but to question it."}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36db4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "\u2014JACOB BRONOWSKI, WRITER AND PRESENTER OF THE ASCENT OF MAN If there\u2019s one thing I\u2019\nm good at, it\u2019s taking in a huge amount of information and distilling it to the essentials. I\u2019m a synthesist by \nnature, and my travels through the world of business literature quickly became an exercise in separating t\nhe diamonds from the rough. The amount of business information being published every day is staggering"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36dc8-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": ". As of this writing, the Library of Congress has approximately 1.2 million business-related books in its gen\neral collection. Assuming you read at an average speed of 250 words per minute and an average book co\nntains 60,000 words, it would take 528 years of around-the-clock reading to finish the entire collection, 82\n2 years if you allowed yourself the luxury of food and sleep. According to Bowker, the company responsibl"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36ddc-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e for assigning ISBN numbers for the publishing industry, over 11,000 new business books are published \nworldwide each year, adding to the millions of business books printed since the early 1900s. Amazon.com\n carries over 630,000 businessrelated titles, not counting audiobooks, e-books, or materials that are publi\nshed without an ISBN. Of course, books aren\u2019t the only source of business information available. Take ma"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36df0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "gazines and newspapers, for example: 527 major business-related periodicals are currently tracked by th\ne Wilson Business Periodicals Index. Every year, the WBPI adds over 96,000 records to its database of 1.\n6 million entries. That figure doesn\u2019t include blogs: according to Google Blog Search, there are currently o\nver 110 million business-related blog posts on the Internet\u2014a figure that is growing daily. There\u2019s certainl"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36e04-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "y no shortage of business writers in the blog world: the blog search engine Technorati has indexed over 4\n million bloggers who write about business-related topics. Clearly, sifting through the massive amount of b\nusiness information available would be an enormous challenge. My early business research was mostly h\naphazard\u2014I simply went to a bookstore and picked up a book that looked interesting. For every great boo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36e18-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "k I found, I had to wade through ten times as many hastily assembled texts by consultants who were mor\ne interested in creating a three-hundred-page business card than providing genuinely useful information. I\n started to wonder: how much of what\u2019s out there\u2014and there\u2019s a lot out there\u2014I really needed to know. H\now could I separate the valuable information from the rubbish? I only had so much time and energy, so I s"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36e2c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "tarted searching for a filter: something that would direct me to the useful knowledge and keep me away fr\nom the chaff. The more I searched, the more I realized it didn\u2019t exist\u2014so I decided to create it myself. I be\ngan tracking which resources were valuable and which ones weren\u2019t, then publishing my findings on my \nWeb site, both as an archive and for the benefit of anyone interested. It was a personal project, nothing m"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36e40-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ore: I was just a recent college graduate doing my best to learn something useful, and publishing my rese\narch for others seemed like a good use of time and energy. One fateful morning, however, the Personal M\nBA went unexpectedly public, and my life changed permanently. The Personal MBA Goes Global Whoeve\nr best describes the problem is the one most likely to solve it. \u2014DAN ROAM, AUTHOR OF THE BACK O"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36e54-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "F THE NAPKIN In addition to reading books, I was following several hundred business blogs. Some of the\n best business thinking was being published on the Internet months (or years) before it ever appeared in p\nrint, and I wanted to read it all as soon as it was available. One of the bloggers I followed avidly was Seth \nGodin. A best-selling author (of books like Permission Marketing, Purple Cow, and Linchpin) and one of th"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36e68-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e earliest successful online marketers, Seth specializes in bold statements of big ideas designed to challe\nnge you to do more, do better, question the status quo, and make a difference. One particular morning, S\neth was commenting on a recent news story: Harvard was rescinding the admission of 119 previously soo\nn-to-be Harvard MBA students.1 These prospective students had discovered an ethically dubious way to"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36e7c-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 2, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hack into the Harvard admissions Web site to view their application status before the official acceptance l\netters went out. The story quickly became a media frenzy, devolving into a debate about whether MBA stu\ndents were naturally inclined to lie, cheat, and steal, or if business schools made them that way. Instead o"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36e90-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 3, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "f being outraged at the bad behavior of the applicants, Seth (unsurprisingly) had a different perspective: H\narvard was giving these students a gift. By rescinding their applications, Harvard was giving these student\ns a significant opportunity: the university was returning $150,000 and two years of their lives, which would\n otherwise have been spent chasing a mostly worthless piece of paper. \u201cIt\u2019s hard for me to understand,\u201d h"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36ea4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 3, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e wrote, \u201cwhy [getting an MBA] is a better use of time and money than actual experience combined with a \ndedicated reading of 30 or 40 books.\u201d \u201cHoly cow,\u201d I thought. \u201cThat\u2019s exactly what I\u2019m doing!\u201d Over the next\n two days, I created a list of the books and resources I had found most valuable in my studies,2 then publi\nshed it on my blog with a link to Seth\u2019s post, so anyone interested in figuring out how to do what Seth sug"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36eb8-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 3, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "gested would be able to find it. Then I typed a quick e-mail to Seth and sent him a link to my post. Two mi\nnutes later, a post went up on Seth\u2019s blog directing people to my reading list, and a flood of readers from \naround the world started visiting my Web site. Popular personal development and productivity blogs like Li\nfehacker .com picked up the story, which then spread to social media Web sites like Reddit, Digg, and Del"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36ecc-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 3, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "icious. Within the first week of the Personal MBA\u2019s existence, thirty thousand people visited my little corne\nr of the Internet to see what I was doing. Better yet, they started talking. Some readers asked questions\u2014\nwhere should they start? Others suggested great books they\u2019d read, helping me with my research. A few t\nold me the entire project was naive, and that I was wasting my time. Through it all, I kept reading, researc"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36ee0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 3, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hing, and developing the Personal MBA in my spare time, and the business self-education movement beg\nan to snowball. \u201cThe Personal MBA Manifesto,\u201d3 an essay I created to help newcomers understand what t\nhe project is all about, has been viewed hundreds of thousands of times by readers all over the world and \nis still in the top ten manifestos published by ChangeThis.com after five years. The Personal MBA recom"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36ef4-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36f12-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36f26-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 3, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "es aren\u2019t as important as the ideas and knowledge they contain, but many of my readers were missing out\n because it took hours of turning pages to get to the good stuff. Many Personal MBA readers started enth\nusiastically, then quit after reading a few books\u2014it took too long to reap the rewards, and the demands of \nwork and family life inevitably intervened. To help them, I had more work to do. Munger\u2019s Mental Models I"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36f30-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 3, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "think it\u2019s undeniably true that the human brain works in models. The trick is to have your brain work better \nthan the other person\u2019s brain because it understands the most fundamental models\u2014the ones that do the\n most work. \u2014CHARLES T. MUNGER, BILLIONAIRE BUSINESS PARTNER OF WARREN BUFFETT, C\nEO OF WESCO FINANCIAL, AND VICECHAIRMAN OF BERKSHIRE HATHAWAY My first glimpse into t\nhe future of the Personal MBA came when I discovered the work of Charles T. Munger. Charlie was born i"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36f44-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36f62-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36f76-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36f8a-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36f9e-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36fb2-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36fc6-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36fda-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f36fee-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37002-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37016-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 4, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "rlie\u2019s Almanack, a recent biography\u2014but there was no single text that contained \u201ceverything you need to k\nnow in order to succeed in business.\u201d If I wanted to understand the fundamental principles of how every s\nuccessful businessperson works, I\u2019d have to discover them myself. To do that, I had to rebuild my underst\nanding of business from the ground up. Connecting the Dots In all affairs, it\u2019s a healthy thing now and the"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3702a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 4, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "n to hang a question mark on the things you have long taken for granted. \u2014BERTRAND RUSSELL, REN\nOWNED PHILOSOPHER AND AUTHOR OF THE PROBLEMS OF PHILOSOPHY AND THE PRINCIPLE\nS OF MATHEMATICS Most business books (and business schools) assume that the student already kno\nws what businesses are, what they do, and how they work\u2014as if it were the most obvious thing in the wor\nld. It\u2019s not. Business is one of the most complex and multidisciplinary areas of human experience, and tryi"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37048-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 4, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ng to understand how businesses work can be remarkably intimidating, even though they surround us eve\nry day. Businesses are so much a part of daily life that it\u2019s easy to take the business world for granted. Da\ny after day, businesses deliver what we want swiftly, efficiently, and with remarkably little fuss. Look aroun\nd: almost every material good you\u2019re surrounded by right now was created and delivered to you by some"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3705c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 4, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "sort of business. Businesses invisibly create and deliver so many different things in so many different way\ns that it makes generalizations difficult: what do apple cider and airlines have in common? As it turns out, \nquite a bit\u2014if you know where to look. Here\u2019s how I define a business: Every successful business (1) crea\ntes or provides something of value that (2) other people want or need (3) at a price they\u2019re willing to pay, i"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37070-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 4, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "n a way that (4) satisfies the purchaser\u2019s needs and expectations and (5) provides the business sufficient \nrevenue to make it worthwhile for the owners to continue operation. Take away any of these things\u2014valu\ne creation, customer demand, transactions, value delivery, or profit sufficiency\u2014and you have something \nother than a business. Each factor is both essential and universal. As I deconstructed each of those factor"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37084-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37098-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f370ac-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f370c0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f370d4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "o produce a particular result. By understanding the essentials of how complex systems work, it\u2019s possible \nto find ways to improve existing systems, whether you\u2019re dealing with a marketing campaign or an automo\ntive assembly line. Before writing this book, I spent several years testing the principles in this book with m\ny clients and readers. Understanding and applying these \u201cbusiness mental models\u201d has helped them laun"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f370e8-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f370fc-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "iceably easier to achieve what you set out to do\u2014and you\u2019ll have more fun along the way. For the Skeptic\ns You wasted $150,000 on an education you could have got for a buck fifty in late charges at the public lib\nrary. \u2014MATT DAMON AS WILL HUNTING, GOOD WILL HUNTING This is a book about business conce\npts, not business schools. However, many people simply don\u2019t believe it\u2019s possible to reap the benefits of"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37110-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "a comprehensive business education without forking over enormous sums of money for a name-brand dip\nloma from an Ivy League school. This section, which will discuss the merits and downfalls of traditional M\nBA programs, is for the skeptics. Should You Go to Business School? There is a difference between (A) \nwhat an MBA does to help you prove your abilities to others and (B) what getting an MBA actually does to"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37124-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "improve your abilities. They are two different things. \u2014SCOTT BERKUN, AUTHOR OF MAKING THING\nS HAPPEN AND THE MYTHS OF INNOVATION Every year, millions of individuals determined to make a\n name for themselves have the following thought: \u201cI want to become a successful businessperson. Where \nshould I get my MBA?\u201d Since you\u2019re flipping through this book, you\u2019ve probably wondered the same thing"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37138-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "at some point in your life. Here\u2019s the answer: five simple words that will save you years of effort and hundr\neds of thousands of dollars: Skip business school. Educate yourself. This book will show you how to succ\need in business\u2014without mortgaging your life. Three Big Problems with Business Schools College: two h\nundred people reading the same book. An obvious mistake. Two hundred people can read two hundred b"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3714c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ooks. \u2014JOHN CAGE, SELF-TAUGHT WRITER AND COMPOSER I have nothing against people who wo\nrk in business schools: by and large, business school professors and administrators are lovely people wh\no try their best and want to see their students succeed. Unfortunately, MBA programs around the world ha\nve three major systemic issues: 1. MBA programs have become so expensive you must effectively mortg"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3716a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "age your life to pay the price of admission. \u201cReturn on Investment\u201d is always directly related to how much \nyou spend, and after decades of tuition increases, MBA programs are increasingly a burden to their stude\nnts instead of a benefit. The primary question is not whether attending a university is a positive experienc\ne: it\u2019s whether or not the experience is worth the cost.9 2. MBA programs teach many worthless, outdated"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3717e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": ", even outright damaging concepts and practices\u2014assuming your goal is to actually build a successful bu\nsiness and increase your net worth. Many of my MBAHOLDING readers and clients come to me after spe\nnding tens (sometimes hundreds) of thousands of dollars learning the ins and outs of complex financial fo\nrmulas and statistical models, only to realize that their MBA program didn\u2019t teach them how to start or imp"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37192-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "rove a real, operating business. That\u2019s a problem\u2014graduating from business school does not guarantee h\naving a useful working knowledge of business when you\u2019re done, which is what you actually need to be s\nuccessful. 3. MBA programs won\u2019t guarantee you a high-paying job, let alone make you a skilled manager\n or leader with a shot at the executive suite. Developing skills such as decision making, management, and"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f371a6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "leadership takes real practice and experience, which business schools can\u2019t provide in the classroom, re\ngardless of how prestigious the program is. Instead of spending huge sums of money to learn marginally \nuseful information, you can spend your time and resources learning things that actually matter. If you\u2019re re\nady and able to invest in improving your skills and abilities, you can learn everything you need to know ab"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f371ba-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "out business on your own, without mortgaging your life for the privilege. Delusions of Grandeur The very s\nubstance of the ambitious is merely the shadow of a dream. \u2014WILLIAM SHAKESPEARE, HAMLET It\u2019s e\nasy to figure out why business school is attractive: it\u2019s sold as a oneway ticket to a permanently prosperou\ns and comfortable life. It\u2019s a pleasant daydream: after two years of case studies and happy hour \u201cnetworki"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f371ce-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ng,\u201d corporate recruiters will be shamelessly throwing themselves at you, each of them offering a prestigio\nus and high-paying position at a top firm. Your rise up the corporate ladder will be swift and sure. You\u2019ll be\n a CAPTAIN OF INDUSTRY, collecting huge bonuses and tabulating the value of your stock options while\n sitting behind an impressive-looking mahogany desk in the corner office on the top floor of a gigantic glas"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f371e2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 5, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s skyscraper. You\u2019ll be the big boss, telling other people what to do until it\u2019s time to go play golf or relax o\nn your yacht. You\u2019ll be wined and dined all over the world, and the lowly masses will venerate you and yo\nur astounding achievements. Everyone will think you\u2019re rich, intelligent, and powerful\u2014 and they\u2019ll be dam"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f371f6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "n right. What price for the promise of riches, power, and glory? A few thousand dollars in application fees,\n an effortless scribble on a loan document, and you\u2019ll be on your way to the top! Not only that, you\u2019ll get a \ntwo-year vacation from actually working. What a fantastic deal! Unfortunately, daydreams and reality are \noften quite different. Your Money AND Your Life There ain\u2019t no such thing as a free lunch. \u2014ROBERT HE"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3720a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "INLEIN, AUTHOR OF STRANGER IN A STRANGE LAND AND THE MOON IS A HARSH MISTRESS Fo\nr the moment, let\u2019s assume you think business school is your ticket to everlasting success. You\u2019re in luck\n\u2014getting into at least one business school is relatively easy. If you pay thousands of dollars in application\n fees, write enough personal statements that strike just the right balance of confidence and humility, and c"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3721e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ompliment the quality of the school\u2019s program in interviews, sooner or later some college or university will \ngenerously bestow upon you the chance to become the next Bill Gates.10 Here, though, is where the pro\nblems begin: business school is insanely expensive. Unless you\u2019re independently wealthy or land a massi\nve scholarship, your only option is to effectively mortgage your life by taking out an enormous loan agains"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37232-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "t your future earnings to pay the tuition. Most prospective MBA students have already graduated from coll\nege with an undergraduate degree, so they\u2019re already carrying some level of student loan debt. According\n to FinAid.org, a college financial aid Web site, the average cumulative debt of a student who completed a\nn undergraduate degree in the United States in 2009 is $22,500. For students who choose to pursue an"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37246-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "MBA program after undergrad, total average cumulative debt is $41,687. That doesn\u2019t include providing fo\nr material needs like rent, groceries, and car payments, which are often funded via additional student loan\ns. Forty thousand dollars is a significant chunk of change, assuming you go to an average school\u2014but wh\no wants to be merely average? If you\u2019re shooting for offers from top-tier financial services companies like"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3725a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "Goldman Sachs or major consulting companies like McKinsey and Bain (which are historically the highest\n-paying options for newly minted MBAs), you\u2019re going to have to attend a top-ten program, and that\u2019ll requ\nire a lot more than a measly forty grand. Breaking Out the Benjamins Who goeth a borrowing, goeth a sor\nrowing . . . A fool and his money are soon parted. \u2014THOMAS TUSSER, SIXTEENTH-CENTURY ENGLI"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37278-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "SH FARMER AND POET According to the 2010 U. S. News & World Report business school rankings, ea\nch of the top fifteen MBA programs charge $40,000 to $50,000 per year for tuition. Most full-time MBA pro\ngrams are two-year affairs. Once you factor in the high cost of living near any major university, you\u2019re easi\nly looking at a total price tag of somewhere between $125,000 and $200,000 for a b-school diploma. Assu"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3728c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ming you get in, of course. Top business schools are notoriously hard to get into\u2014the programs can affor\nd to be picky because of their reputations. It\u2019s circular. The reputation of a business school is built on the \nsuccess of its graduates, so the top schools only admit those students intelligent and ambitious enough to\n make it through the rigorous selection process\u2014the ones who are already likely to succeed, MBA or no"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37296-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "MBA. Business schools don\u2019t create successful people. They simply accept them, then take credit for thei\nr success. If you get in, the school will do what it can to help you get a decent job, but making things happ\nen will always be your responsibility. If you\u2019re successful in the years after graduation, the school will hold \nyou up as a shining example of the quality of their program and will use the \u201chalo effect\u201d of your name to r"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f372b4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ecruit more students. If you lose your job and go broke, you\u2019ll get neither publicity nor help, but the loan bil\nls will keep rolling in. Sorry about your luck. Here\u2019s what Christian Schraga, a 2002 graduate of the Whart\non School of Business, had to say about his MBA experience in an essay on his Web site:11 My been-the\nre-done-that experience has taught me that a top MBA program provides some benefits, but at a steep pri"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f372c8-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ce. If you are currently considering attending a full-time program, please stop to ask yourself whether or n\not you are willing to take the risk. Business school is a big risk. Should you choose to enroll, the only certa\ninty is that you will shell out about $125,000. Such a figure correlates to a $1,500/month non-deductible lo\nan repayment and a ten-year period of time in which you will not be able to save a red cent. If you think th"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f372dc-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "at this payment is worth it to earn the pedigree, the fraternity, the two years off, and a shot at the big buck\ns, then the MBA is right for you. If not, please do something else. Wise words. If you don\u2019t absolutely need\n the sheepskin, don\u2019t enroll. What an MBA Will Actually Get You Hypocrisy can afford to be magnificent in\n its promises; for never intending to go beyond promises, it costs nothing. \u2014EDMUND BURKE, POLITICI"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f372f0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37304-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 6, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "aightforward: If an MBA education is useful training for business, then the following should be true as a m\natter of logic: (1) having an MBA degree should, other things being equal, be related to various measures \nof career success and attainment, such as salary; and (2) if what someone learns in business school help"}


created_at: 2024-01-07 10:05:41
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37336-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3734a-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3735e-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37372-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37386-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3739a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 7, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e). In plain English: Schraga used a technique business schools teach to prove that getting an MBA from \na top-tier school is a bad financial decision. Assuming Schraga\u2019s assumptions are accurate, it takes twelv\ne years of solid effort just to break even\u2014and that\u2019s assuming everything goes according to plan. If you gr\naduate into a bad job market, you\u2019re screwed. Where Business Schools Came From It is, in fact, nothing"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f373ae-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 7, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "short of a miracle that modern methods of instruction have not entirely strangled the curiosity of inquiry. \n\u2014ALBERT EINSTEIN, NOBEL PRIZE-WINNING PHYSICIST MBA programs don\u2019t make students more s\nuccessful because they teach very few things that are actually useful in the working world. As Pfeffer and \nFong state in their paper: A large body of evidence suggests that the curriculum taught in business school"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f373c2-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f373d6-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f373ea-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37408-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3741c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 7, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "of most business school management programs. Management was thought of mostly as an exercise in ge\ntting people to work faster and do exactly what they\u2019re told. The philosopher kings behind what passed for\n management psychology were Ivan Pavlov and, later on, B. F. Skinner, who believed that if you discover\ned and applied just the right stimulus, people would behave however you wanted. This mentality led to the"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37430-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37444-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 8, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ormance, motivation, and job satisfaction in the real world.13 Despite more useful competing theories of h\numan action, 14 the search for the magic stimulus continues in business school classrooms to this day. In\n Search of Distribution Any technique, however worthy and desirable, becomes a disease when the mind i\ns obsessed with it. \u2014BRUCE LEE, WORLD-RENOWNED MARTIAL ARTIST Marketing, on the other han"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37458-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37462-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37476-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3748a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 8, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "amount of time. Viable businesses were acquired and gutted in the name of conglomeration and \u201csynergy\n,\u201d all with the blessing of business academia. The sheer enormity of integrating these gigantic, complex b\nusiness systems was ignored or overlooked, leading most of the companies that attempted huge mergers\n to ruin. Playing with Fire Beware of geeks bearing formulas. \u2014WARREN BUFFETT, CHAIRMAN AND C\nEO OF BERKSHIRE HATHAWAY AND ONE OF THE WEALTHIEST INDIVIDUALS IN THE WORLD Fin"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3749e-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f374b2-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 8, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "l practice simultaneously enhanced analytical capability at the cost of abstraction, increasing opportunities\n to fudge the numbers without anyone noticing. Over time, managers and executives began using statistic\ns and analysis to forecast the future, relying on databases and spreadsheets in much the same way ancie\nnt seers relied on tea leaves and goat entrails. The world itself is no less unpredictable or uncertain: as in"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f374d0-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f374e4-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 8, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "al formulas such as the Black-Scholes option pricing model, the Gaussian copula function, and the capital\n asset pricing model (CAPM) played a major role in the tech bubble of 2000 and the housing market and d\nerivatives shenanigans behind the 2008 recession. Learning how to use complicated financial formulas is\nn\u2019t the same as learning how to run a business. Understanding what businesses actually do to create and"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f374f8-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 8, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "deliver value is essential knowledge, but many business programs have de-emphasized value creation an\nd operations in favor of finance and quantitative analysis. In \u201cUpper Mismanagement,\u201d journalist Noam Sc\nheiber explores the reason behind the downfall of American industry: Since 1965, the percentage of grad\nuates of highly ranked business schools who go into consulting and financial services has doubled, from a"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3750c-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 8, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "bout one-third to about two-thirds. And while some of these consultants and financiers end up in the manu\nfacturing sector, in some respects that\u2019s the problem . . . Most of GM\u2019s top executives in recent decades h\nailed from a finance rather than an operations background. (Outgoing GM CEO Fritz Henderson and his f\nailed predecessor, Rick Wagoner, both worked their way up from the company\u2019s vaunted Treasurer\u2019s offic"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37520-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 8, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e.) But these executives were frequently numb to the sorts of innovations that enable high-quality producti\non at low cost.15 Process improvements are easy to skip if you want the business\u2019s short-term profit num\nbers to look good, even though they\u2019re essential to long-term viability. By ignoring the things that make a \nbusiness operate more effectively, MBA-trained executives have unwittingly gutted previously viable com"}


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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3755c-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3757a-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3758e-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f375a2-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f375b6-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f375ca-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f375de-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 9, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e job. How do you manage someone who doesn\u2019t really want to work for you in the first place? MBA progr\nams are trying to cope, but they\u2019re still teaching theories that are outdated, misguided, and even outright \nwrong. Even so, don\u2019t expect them to start doing things differently. Why bother, when MBA programs are \nprofitable status symbols for the colleges and in such high demand? As long as students are still signing u"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f375f2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 9, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "p, don\u2019t expect the hallowed halls of business schools to change their tune. The Single Benefit of Busines\ns Schools Institutions will try to preserve the problem to which they are the solution. \u2014CLAY SHIRKY, PR\nOFESSOR AT NYU AND AUTHOR OF HERE COMES EVERYBODY AND COGNITIVE SURPLUS The \none significant benefit that business schools do provide is better access to Fortune 50 recruiters, consulti"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37606-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3761a-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37638-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 9, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "grams also provides plausible deniability for the recruiter if the hire doesn\u2019t work out: \u201cI\u2019m not sure what th\ne issue was\u2014she graduated from Harvard Business School!\u201d The filtering aspect of MBA programs is ver\ny real, and difficult to overcome on your own. If you have your heart set on becoming a management cons\nultant, international financier, or Fortune 50 fast-track management candidate, you may have to buy yours"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3764c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 9, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "elf a $150,000 interview. If you go this route, be aware of what you\u2019re getting yourself into before you appl\ny\u2014once you sign your life away, the debt will make it very difficult to change your mind. If you\u2019re more int\nerested in working for yourself or holding down an enjoyable job while having a life, getting an MBA is a w\naste of time and money. As Dr. Pfeffer says, \u201cIf you are good enough to get in, you obviously have enoug"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37660-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 9, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "h talent to do well, regardless.\u201d I Owe, I Owe\u2014It\u2019s Off to Work I Go Are you where you want to be if it doe\nsn\u2019t work? \u2014LOUIS L\u2019AMOUR, AUTHOR AND HISTORIAN Let\u2019s say you go ahead and get your MBA. If \nyou\u2019re \u201clucky,\u201d you may be hired by a big financial services or consulting firm, where you\u2019ll have the privile\nge of working eighty-plus hours a week for around $100,000 a year. The money is certainly good, but you\u2019"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37674-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37688-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "to the life of an indentured servant. If you do a good job, you\u2019ll become an executive, get a raise, and hav\ne the privilege of working one hundred-plus hours a week. You\u2019d better not mind enjoying the fruits of you\nr labor alone: top executives consistently have the highest rates of divorce and family relationship issues. \nAs the saying goes: you can have anything you want, as long as you\u2019re willing to pay the price. If you\u2019re n"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3769c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ot so \u201cfortunate,\u201d you\u2019ll find a job that pays little more than what you\u2019d be able to command without your M\nBA. Worse yet, graduating into an iffy job market means that you may graduate with a thousand-dollar-am\nonth loan payment without a job to foot the bill. An unforgiving job market won\u2019t make student loan payme\nnts go away\u2014in the United States, student loan debt cannot be forgiven, even if you declare bankruptcy."}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f376b0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "Regardless of how your life works out, your student loans will always be there, and your phone will ring wi\nth the calls of debt collectors until they\u2019re repaid. I can\u2019t emphasize this enough: the quickest and easiest \nway to screw up your life is to take on too much debt. The primary reason people spend decades working \nin jobs they despise is to pay off their creditors. Financial stress can destroy relationships, threaten your h"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f376c4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ealth, and jeopardize your sanity. Is a shot at a desk in a corner office really worth it? With heavy debt loa\nds and questionable returns, MBA programs simply aren\u2019t a good investment\u2014they\u2019re a trap for the unwa\nry. A Better Way To educate educators! But the first ones must educate themselves! And for these I write.\n \u2014FRIEDRICH NIETZSCHE, PHILOSOPHER AND AUTHOR OF THE WILL TO POWER AND THUS SP\nOKE ZARATHUSTRA Fortunately, you have a choice in how you go about educating yourself\u2014a choice t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f376d8-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hat can make you more successful than top MBA graduates while saving you hundreds of thousands of d\nollars. Studying the fundamentals of sound business practice and developing a network on your own19 ca\nn provide most of the benefits of business education at a fraction of the cost. Instead of wasting your time \nand hard-earned money learning outdated theories you\u2019ll probably never use, it\u2019s far better to spend your t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f376ec-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ime and energy teaching yourself what you actually need to know to succeed. If you\u2019re the type of person \nwho\u2019s capable of getting into a top MBA program and doing what it takes to succeed after graduation, skip\nping business school and learning the fundamentals of business by reading this book may be the best de\ncision you ever make. What You\u2019ll Learn in This Book When you first start to study a field, it seems like yo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37700-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "u have to memorize a zillion things. You don\u2019t. What you need is to identify the core principle s\u2014generally\n three to twelve of them\u2014that govern the field. The million things you thought you had to memorize are si\nmply various combinations of the core principles. \u2014JOHN T. REED, REAL ESTATE INVESTMENT EXPE\nRT AND AUTHOR OF SUCCEEDING This book is designed to teach you the fundamentals of sound busi"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3771e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ness practice as quickly and efficiently as possible. Here\u2019s a quick preview of what you\u2019ll learn: How Busin\nesses Work. A successful business, roughly defined, provides (1) something of value that (2) other people\n want or need at (3) a price they\u2019re willing to pay, in a way that (4) satisfies the customer\u2019s needs and exp\nectations so that (5) the business brings in sufficient profit to make it worthwhile for the owners to continu"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37728-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e operation. Together, the concepts in chapters 2 to 6 describe how every business operates and what yo\nu can do to improve your results. How People Work. Every business is created by people and survives by\n benefiting other people. To understand how businesses work, you need a firm understanding of how peo\nple make decisions, act on those decisions, and communicate with others. Chapters 7 to 9 introduce you t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3773c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 10, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "o a few major concepts in psychology that describe how the human mind processes the world, how you c\nan work more effectively, and how you can create and strengthen professional relationships. How System\ns Work. Businesses are complex systems with many moving parts that exist within even more complex sy\nstems like industries, societies, cultures, and governments. Chapters 10 to 12 will help you understand ho"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37750-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37764-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37778-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3778c-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f377aa-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 11, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "inancial Report by John A. Tracy. Quantitative Analysis. Likewise, reading this book won\u2019t help you beco\nme a high-flying spreadsheet jockey. Statistics and quantitative analysis are very useful skills when used \nappropriately, but the analytical techniques themselves are very situational and beyond the scope of this \nbook. If you\u2019re interested in quantitative analysis, I recommend starting with Principles of Statistics by M."}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f377be-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 11, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "G. Bulmer and Turning Numbers into Knowledge by Jonathan G. Koomey. How to Use This Book The be\nst effect of any book is that it excites the reader to selfactivity. \u2014THOMAS CARLYLE, ESSAYIST AND HI\nSTORIAN Here are a few tips that will help you get the most from this book: Browse, skim, and scan. Beli\neve it or not, you don\u2019t need to read a book cover to cover to benefit: browsing can give you better results"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f377d2-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f377f0-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37804-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 11, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "oncepts, the more you\u2019ll improve your results. I also recommend setting a reminder in your calendar to rev\niew this book or your notes every few months to reinforce your understanding and spark new ideas. There\n\u2019s always more to explore. Each of these mental models has extremely broad applications, and it\u2019s imposs\nible to explore every ramification of these concepts in a single book. There are many great resources in th"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37818-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 11, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e world of business literature that can deepen your understanding if you\u2019d like to learn more about a partic\nular mental model. Join me at personalmba.com to explore these ideas in more detail and learn how to ap\nply them to your daily life and work. Let\u2019s begin. 2 VALUE CREATION Make something people want . . . T\nhere\u2019s nothing more valuable than an unmet need that is just becoming fixable. If you find something brok"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3782c-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 11, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "en that you can fix for a lot of people, you\u2019ve found a gold mine. \u2014PAUL GRAHAM, FOUNDER OF Y CO\nMBINATOR, VENTURE CAPITALIST, AND ESSAYIST AT PAULGRAHAM.COM Every successful busin\ness creates something of value. The world is full of opportunities to make other people\u2019s lives better in so\nme way, and your job as a businessperson is to identify things that people don\u2019t have enough of, then find"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37840-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3785e-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 11, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "a little value to many, and others focus on providing a lot of value to only a few people. Regardless, the \nmore real value you create for other people, the better your business will be and the more prosperous you\n\u2019ll become. SHARE THIS CONCEPT: http://book.personalmba.com/value-creation/ The Five Parts of Ever\ny Business A business is a repeatable process that makes money. Everything else is a hobby. \u2014PAUL F\nREET, SERIAL ENTREPRENEUR AND COMMERCIALIZATION EXPERT Roughly defined, a business i"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37872-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37886-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3789a-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f378ae-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f378c2-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f378d6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 12, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ete understanding of how it works. If you\u2019re thinking about starting a new business, defining what these pr\nocesses might look like is the best place to start. If you can\u2019t describe or diagram your business idea in ter\nms of these core processes, you don\u2019t understand it well enough to make it work.1 SHARE THIS CONCE\nPT: http://book.personalmba.com/5-parts-of-everybusiness/ Economically Valuable Skills Don\u2019t go around"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f378ea-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37908-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3791c-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37930-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 12, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "nalmba.com/economicallyvaluable-skills/ The Iron Law of the Market Market matters most; neither a stella\nr team nor fantastic product will redeem a bad market. Markets that don\u2019t exist don\u2019t care how smart you a\nre. \u2014MARC ANDREESSEN, VENTURE CAPITALIST AND FOUNDER OF NETSCAPE AND NING.COM\n What if you throw a party and nobody shows up? In business, it happens all the time. Dean Kamen, a ren"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37944-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37958-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3798a-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 12, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "people actually wanting what you have to offer. Every business is fundamentally limited by the size and q\nuality of the market it attempts to serve. The Iron Law of the Market is cold, hard, and unforgiving: if you d\non\u2019t have a large group of people who really want what you have to offer, your chances of building a viabl\ne business are very slim. The best approach is to focus on making things people want to buy. Creating so"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3799e-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 12, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "mething no one wants is a waste. Market research is the business equivalent of \u201clook before you leap.\u201d B\nooks like The New Business Road Test by John Mullins can help you identify promising markets from the \noutset, increasing the probability that your new venture will be a success. In the next few sections, we\u2019ll e\nxplore how to figure out what people want and need before investing your time and hard-earned money in"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f379b2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 12, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "to creating something new. SHARE THIS CONCEPT: http://book.personalmba.com/iron-law-of-themarket\n/ Core Human Drives Understanding human needs is half the job of meeting them. \u2014ADLAI STEVENSO\nN, POLITICIAN AND FORMER GOVERNOR OF ILLINOIS If you\u2019re going to build a successful business, \nit\u2019s useful to have a basic understanding of what people want. According to Harvard Business School prof\nessors Paul Lawrence and Nitin Nohria, the authors of Driven: How Human Nature Shapes Our Choices,"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f379c6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 12, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "all human beings have four Core Human Drives that have a profound influence on our decisions and actio\nns: 1. The Drive to Acquire. The desire to obtain or collect physical objects, as well as immaterial qualities\n like status, power, and influence. Businesses built on the drive to acquire include retailers, investment br\nokerages, and political consulting companies. Companies that promise to make us wealthy, famous, influ"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f379da-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 12, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ential, or powerful connect to this drive. 2. The Drive to Bond. The desire to feel valued and loved by formi\nng relationships with others, either platonic or romantic. Businesses built on the drive to bond include rest\naurants, conferences, and dating services. Companies that promise to make us attractive, well liked, or hi\nghly regarded connect to this drive. 3. The Drive to Learn. The desire to satisfy our curiosity. Businesses"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f379ee-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 12, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "built on the drive to learn include academic programs, book publishers, and training workshops. Compani\nes that promise to make us more knowledgeable or competent connect to this drive. 4. The Drive to Defe"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a02-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "nd. The desire to protect ourselves, our loved ones, and our property. Businesses built on the drive to def\nend include home alarm systems, insurance products, martial arts training, and legal services. Companie\ns that promise to keep us safe, eliminate a problem, or prevent bad things from happening connect to this \ndrive. There\u2019s a fifth core drive that Lawrence and Nohria missed: 5. The Drive to Feel. The desire for new"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a0c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "sensory stimulus, intense emotional experiences, pleasure, excitement, entertainment, and anticipation. \nBusinesses built on the drive to feel include restaurants, movies, games, concerts, and sporting events. O\nffers that promise to give us pleasure, thrill us, or give us something to look forward to connect with this dr\nive. Whenever a group of people have an unmet need in one or more of these areas, a market will form to"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a20-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "satisfy that need. As a result, the more drives your offer connects with, the more attractive it will be to you\nr potential market. At the core, all successful businesses sell some combination of money, status, power, l\nove, knowledge, protection, pleasure, and excitement. The more clearly you articulate how your product s\natisfies one or more of these drives, the more attractive your offer will become. SHARE THIS CONCEPT:"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a34-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "http://book.personalmba.com/core-humandrives/ Ten Ways to Evaluate a Market So often people are wor\nking hard at the wrong thing. Working on the right thing is probably more important than working hard. \u2014\nCATERINA FAKE, FOUNDER OF FLICKR.COM AND HUNCH.COM If you\u2019re thinking of starting a new b\nusiness or expanding an existing business into a new market, it pays to do some research before you lea"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a48-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "p. The Ten Ways to Evaluate a Market provide a back-of-the-napkin method you can use to identify the at\ntractiveness of any potential market. Rate each of the ten factors below on a scale of 0 to 10, where 0 is e\nxtremely unattractive and 10 is extremely attractive. When in doubt, be conservative in your estimate: 1. U\nrgency\u2014How badly do people want or need this right now? (Renting an old movie is typically low urgency"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a5c-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "; seeing the first showing of a new movie on opening night is high urgency, since it only happens once.) 2.\n Market Size\u2014How many people are actively purchasing things like this? (The market for underwater bas\nket weaving courses is very small; the market for cancer cures is massive.) 3. Pricing Potential\u2014What is t\nhe highest price a typical purchaser would be willing to spend for a solution? (Lollipops sell for $0.05; aircr"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a70-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "aft carriers sell for billions.) 4. Cost of Customer Acquisition\u2014How easy is it to acquire a new customer? \nOn average, how much will it cost to generate a sale, in both money and effort? (Restaurants built on high\n-traffic interstate highways spend little to bring in new customers. Government contractors can spend milli\nons landing major procurement deals.) 5. Cost of Value Delivery\u2014How much would it cost to create and d"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a84-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "eliver the value offered, both in money and effort? (Delivering files via the Internet is almost free; inventing\n a product and building a factory costs millions.) 6. Uniqueness of Offer\u2014How unique is your offer versus \ncompeting offerings in the market, and how easy is it for potential competitors to copy you? (There are ma\nny hair salons, but very few companies that offer private space travel.) 7. Speed to Market\u2014How quickly"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37a98-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "can you create something to sell? (You can offer to mow a neighbor\u2019s lawn in minutes; opening a bank ca\nn take years.) 8. Up-Front Investment\u2014How much will you have to invest before you\u2019re ready to sell? (To \nbe a housekeeper, all you need is a set of inexpensive cleaning products. To mine for gold, you need milli\nons to purchase land and excavating equipment.) 9. Upsell Potential\u2014Are there related secondary offers"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37aac-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "that you could also present to purchasing customers? (Customers who purchase razors need shaving cre\nam and extra blades as well; buy a Frisbee, and you won\u2019t need another unless you lose it.) 10. Evergree\nn Potential\u2014Once the initial offer has been created, how much additional work will you have to put into it i\nn order to continue selling? (Business consulting requires ongoing work to get paid; a book can be produc"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ac0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ed once, then sold over and over as is.) When you\u2019re done with your assessment, add up the score. If the\n score is 50 or below, move on to another idea\u2014there are better places to invest your energy and resourc\nes. If the score is 75 or above, you have a very promising idea\u2014full speed ahead. Anything between 50 a\nnd 75 has the potential to pay the bills, but won\u2019t be a home run without a huge investment of energy and"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ad4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "resources, so plan accordingly. SHARE THIS CONCEPT: http://book.personalmba.com/ten-ways-toevalu\nate-a-market/ The Hidden Benefits of Competition The competitor to be feared is one who never bothers \nabout you at all, but goes on making his own business better all the time. \u2014HENRY FORD, FOUNDER O\nF THE FORD MOTOR COMPANY AND ASSEMBLY-LINE PIONEER One of the most common experien\nces of a first-time entrepreneur is discovering that your brilliant business idea isn\u2019t as original as you\u2019d tho"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ae8-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ught: other businesses are already offering similar products or services. This would shake anyone\u2019s confi\ndence\u2014after all, why bother when someone else is doing what you want to do? Cheer up: there are Hidd\nen Benefits of Competition. When any two markets are equally attractive in other respects, you\u2019re better o\nff choosing to enter the one with competition. Here\u2019s why: it means you know from the start there\u2019s a mark"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37afc-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 13, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "et of paying customers for this idea, eliminating your biggest risk. The existence of a market means you\u2019re\n already on the right side of the Iron Law of the Market, so you can spend more time developing your offer"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37b10-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "instead of proving a market exists. If there are several successful businesses serving a market, you don\u2019t\n have to worry so much about investing in a dead end, since you already know that people are buying. Th\ne best way to observe what your potential competitors are doing is to become a customer. Buy as much a\ns you can of what they offer. Observing your competition from the inside can teach you an enormous amo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37b24-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "unt about the market: what value the competitor provides, how they attract attention, what they charge, ho\nw they close sales, how they make customers happy, how they deal with issues, and what needs they are\nn\u2019t yet serving. As a paying customer, you get to observe what works and what doesn\u2019t before you commit\n to a particular strategy. Learn everything you can from your competition, and then create something even"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37b2e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "more valuable. SHARE THIS CONCEPT: http://book.personalmba.com/hidden-benefit-ofcompetition/ Th\ne Mercenary Rule Make money your god and it will plague you like the devil. \u2014HENRY FIELDING, EIGH\nTEENTH-CENTURY NOVELIST AND SATIRIST Becoming a Mercenary doesn\u2019t pay: don\u2019t start a busine\nss for the money alone. Here\u2019s why: starting and running a business always takes more effort than you fir"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37b42-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "st expect. Even if you identify a business that will largely run itself, setting up the Systems (discussed late\nr) necessary to run the business requires persistence and dedication. If the only thing that interests you a\nbout an opportunity is the money, you\u2019ll probably quit well before you find the pot of gold at the bottom of t\nhe landfill. Pay very close attention to the things you find yourself coming back to over and over again. Bui"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37b56-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "lding or finishing anything is mostly a matter of starting over and over again; don\u2019t ignore what pulls you. T\nhe trick is to find an attractive market that interests you enough to keep you improving your offering every \nsingle day. Finding that market is mostly a matter of patience and active exploration. That said, don\u2019t ignor\ne \u201cboring\u201d businesses until you investigate them; if you can find some aspect of the work that interests yo"}


created_at: 2024-01-07 10:05:41
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37b7e-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "of gold waiting to be mined. SHARE THIS CONCEPT: http://book.personalmba.com/mercenary-rule/ The \nCrusader Rule The zealous display the strength of their belief, while the judicious show the grounds of it. \n\u2014WILLIAM SHENSTONE, EIGHTEENTH-CENTURY POET AND LANDSCAPE DESIGNER Being a Cru\nsader doesn\u2019t pay either. Every once in a while, you\u2019ll find an idea so fascinating it becomes hard to think"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37b92-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ba6-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "to support a business, and that\u2019s perfectly okay. That doesn\u2019t mean you should ignore them: side projects\n can help you expand your knowledge, improve your skills, and experiment with new methods and techniq\nues. I\u2019m a huge advocate of pursuing side projects as long as you don\u2019t count on them to reliably produce \nincome. Once you have your financial bases covered, crusade all you want. Before attempting to launch a"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37bba-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "business, take the time to do a thorough evaluation using the Ten Ways to Evaluate a Market. If you\u2019re fi\nnding it difficult to be objective, find a trusted colleague or adviser to help you, then test it as quickly and a\ns inexpensively as you can before you fully commit. A few hours spent in evaluation can prevent months (\nor years) of frustration and misplaced effort. SHARE THIS CONCEPT: http://book.personalmba.com/crus"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37bce-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37be2-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37bec-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 14, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "t from a wholesaler, then sell that asset to a retail buyer at a higher price. 6. Lease. Acquire an asset, the\nn allow another person to use that asset for a predefined amount of time in exchange for a fee. 7. Agency.\n Market and sell an asset or service you don\u2019t own on behalf of a third party, then collect a percentage of t\nhe transaction price as a fee. 8. Audience Aggregation. Get the attention of a group of people with certain"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c00-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c14-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "on for a fixed period of time in exchange for a fee. 11. Insurance. Take on the risk of some specific bad thi\nng happening to the policy holder in exchange for a predefined series of payments, then pay out claims o\nnly when the bad thing actually happens. 12. Capital. Purchase an ownership stake in a business, then co\nllect a corresponding portion of the profit as a one-time payout or ongoing dividend. Let\u2019s investigate thes"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c28-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e Twelve Standard Forms of Value in more detail. SHARE THIS CONCEPT: http://book.personalmba.co\nm/12-standardforms-of-value/ Form of Value #1: Product Business is not financial science . . . it\u2019s about cr\neating a product or service so good that people will pay for it. \u2014ANITA RODDICK, ENTREPRENEUR AN\nD FOUNDER OF THE BODY SHOP A Product is a tangible form of value. To run a Product-oriented busi"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c3c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ness, you must: 1. Create some sort of tangible item that people want. 2. Produce that item as inexpensiv\nely as possible while maintaining an acceptable level of quality. 3. Sell as many units as possible for as hi\ngh a price as the market will bear. 4. Keep enough inventory of finished product available to fulfill orders a\ns they come in. The book you\u2019re holding right now is a good example of a Product. It had to be written, edi"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c50-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ted, typeset, printed, bound, and shipped to bookstores in sufficient quantities before reaching your hands\n. Leave out any of these steps and you wouldn\u2019t be reading this right now. To make money, a book must \nbe sold for more than it cost to create, print, and distribute. Products can be durable, like cars, computers,\n and vacuum cleaners. They can also be consumable: goods like apples, donuts, and prescription medica"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c64-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "tions are products as well. Products don\u2019t have to be physical\u2014even though things like software, e-books,\n and MP3s don\u2019t have a distinct physical form, they are entities that can be sold. Providing value in Produ\nct form is valuable because Products can be Duplicated . This book was only written once, but individual c\nopies can be printed and delivered millions of times to readers all around the world. As a result, products t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c78-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "end to Scale better than other forms of value, since they can be Duplicated and/or Multiplied (all discusse\nd later). SHARE THIS CONCEPT: http://book.personalmba.com/product/ Form of Value #2: Service Ever\nyone can be great because everyone can serve. \u2014MARTIN LUTHER KING, JR., HUMAN RIGHTS ACTI\nVIST A Service involves helping or assisting someone in exchange for a fee. To create value via Services"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c82-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37c96-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "roduct: you can\u2019t purchase one from a shelf. The Service is the series of actions the stylist uses to transfo\nrm your current hairstyle into the one you want. In this sense, doctors, freelance designers, massage ther\napists, lawn care providers, and consultants are all Service providers. Services can be lucrative, particular\nly if the skills required to provide them are rare and difficult to develop, but the trade-off is that they\u2019re diffi"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37caa-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "cult to duplicate. Services typically depend on the Service provider\u2019s investment of time and energy, both \nof which are finite. A heart surgeon can only complete so many four-hour operations on any given day. If \nyou\u2019re developing a Service, be sure to charge enough to compensate for the time you\u2019ll be investing on a\n daily basis in providing the Service to your customers. Otherwise, you\u2019ll discover that you\u2019re working too"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37cbe-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hard for too little a reward. SHARE THIS CONCEPT: http://book.personalmba.com/service/ Form of Value\n #3: Shared Resource The joy that isn\u2019t shared dies young. \u2014ANNE SEXTON, PULITZER PRIZE-WINNI\nNG POET A Shared Resource is a durable asset that can be used by many people. Shared Resources all\now you to create the asset once, then charge your customers for its use. In order to create a successful S"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37cd2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hared Resource, you must: 1. Create an asset people want to have access to. 2. Serve as many users as\n you can without affecting the quality of each user\u2019s experience. 3. Charge enough to maintain and improv\ne the Shared Resource over time. Gyms and fitness clubs are a classic example of a Shared Resource. A\n fitness club may purchase forty treadmills, thirty exercise bikes, six sets of free weights, a set of kettlebell"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ce6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s, and other useful but expensive equipment that lasts a long time. The club\u2019s members benefit by being a\nble to access this equipment without having to purchase it themselves\u2014instead, they pay an access fee, \nwhich is much easier for an individual to afford. (Most gyms combine access to their Shared Resource wit\nh Services and Subscriptions , a common example of Bundling\u2014discussed later.) Businesses like museu"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37cfa-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ms and amusement parks work in much the same way. Whether it means studying a Monet or riding a roll\ner coaster, Shared Resources allow many people to take advantage of experiences that would otherwise \nbe too expensive. The tricky part about offering a Shared Resource is carefully monitoring usage levels. If\n you don\u2019t have enough users, you won\u2019t be able to spread out the cost of the asset enough to cover up-fr"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37d04-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 15, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ont costs and ongoing maintenance. If you have too many users, overcrowding will diminish the experienc\ne so much that they\u2019ll become frustrated, stop using the resource, and advise others not to patronize your \nbusiness, diminishing your Reputation (discussed later). Finding the sweet spot between too few member"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37d18-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 16, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s and too many is the key to making a Shared Resource work. SHARE THIS CONCEPT: http://book.pers\nonalmba.com/shared-resource/ Form of Value #4: Subscription Please accept my resignation. I don\u2019t wan\nt to belong to any club that will accept me as a member. \u2014GROUCHO MARX, COMEDIAN A Subscriptio\nn program provides predefined benefits on an ongoing basis in exchange for a recurring fee. The actual b"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37d2c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 16, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "enefits provided can be tangible or intangible\u2014the key differences are (a) the expectation of additional val\nue to be provided in the future and (b) that fees will be collected until the Subscription is canceled. In orde\nr to create a successful Subscription, you must: 1. Provide significant value to each subscriber on a regul\nar basis. 2. Build a subscriber base and continually attract new subscribers to compensate for attrition. 3."}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37d40-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 16, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "Bill customers on a recurring basis. 4. Retain each subscriber as long as possible. Cable or satellite televi\nsion service is a great example of a Subscription. After you sign up, the company will continue to provide t\nelevision service as long as you make the payments. You don\u2019t have to call up the company every month \nto buy another thirty days\u2019 worth\u2014the service continues as long as the invoice is paid. Subscription is an"}


created_at: 2024-01-07 10:05:41
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37da4-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37de0-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37df4-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37e08-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37e30-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37e3a-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37e4e-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37e62-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37e76-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37e8a-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37e94-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ea8-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ed0-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ef8-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "oan/ Form of Value #10: Option You pays your money and you makes your choice. \u2014PUNCH, NINETEE\nNTH-CENTURY BRITISH COMIC MAGAZINE, 1846 An Option is the ability to take a predefined action fo\nr a fixed period of time in exchange for a fee. Most people think of Options as financial securities, but they\n\u2019re all around us: movie or concert tickets, coupons, retainers, and licensing rights are all examples of Opt"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37f5c-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37f70-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37f84-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s the right to exercise the Option to see the movie at the time specified\u2014nothing more. Options are often \nused to keep specific courses of action open for a certain period of time before another transaction takes \nplace. For example, in moving to Colorado from New York, my wife, Kelsey, and I put a deposit down on \nan apartment we hadn\u2019t seen in person. The deposit ensured that the landlord wouldn\u2019t rent the apartment"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37fca-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "to someone else before we moved. Once we signed the official rental agreement, the deposit became a s\ntandard rental security deposit. If we had decided not to move forward, the landlord would have kept the d\neposit in compensation for holding the apartment for us and would have been free to find another tenant. \nThus, the Option was beneficial for both of us. Options are often an overlooked form of value\u2014flexibility is"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37fde-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "one of the Three Universal Currencies (discussed later). Find a way to give people more flexibility, and y\nou may discover a viable business model. SHARE THIS CONCEPT: http://book.personalmba.com/option/\n Form of Value #11: Insurance Take calculated risks. That is quite different from being rash. \u2014GENERAL \nGEORGE S. PATTON, COMMANDER OF THE U.S. THIRD ARMY IN WORLD WAR II Insurance involve"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f37ff2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s the transfer of risk from the purchaser to the seller. In exchange for taking on the risk of some specific b\nad thing happening to the policy holder, the policy holder agrees to give the insurer a predefined series of \npayments. If the bad thing actually happens, the insurer is responsible for footing the bill. If it doesn\u2019t, the i\nnsurer gets to keep the money. In order to provide value via Insurance, you must: 1. Create a binding leg"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38010-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "al agreement that transfers the risk of a specific bad thing (a \u201closs\u201d) happening from the policy holder to y\nou. 2. Estimate the risk of that bad thing actually happening, using available data. 3. Collect the agreed-u\npon series of payments (called \u201cpremiums\u201d) over time. 4. Pay out legitimate claims upon the policy. Insura\nnce provides value to the purchaser by protecting them from downside risk. For example, a house can cat"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38024-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ch fire in any number of ways, and most homeowners don\u2019t have enough cash to purchase another if their\n home burns to the ground. Homeowners\u2019 Insurance transfers this risk to the insurer. If the home is destro\nyed by fire, the Insurance will compensate the homeowner and allow them to purchase a new home. If it i\nsn\u2019t, the insurer gets to keep the premium payments. Insurance works because it spreads risk over a larg"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38038-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e number of individuals. If an insurer writes policies for thousands or millions of homes, it\u2019s highly unlikely \nthat every single one will burn to the ground at once\u2014only a certain number of claims will have to be paid.\n As long as the insurer brings in more premium payments than it pays in claims, the insurer makes money\n. Car insurance, health insurance, and warranty coverage for consumer goods work the same way. The m"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3804c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ore premiums an insurer collects and the fewer claims the insurer pays, the more money it makes. Insurer\ns have a vested interest in avoiding \u201cbad risks,\u201d maximizing premiums, and minimizing payments on claim\ns. Accordingly, insurers must be constantly vigilant to avoid fraudulent activity, both by preventing fraudul\nent claims and by refraining from defrauding purchasers by collecting premium payments without paying l"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38060-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "egitimate claims. If an insurer fails to pay legitimate claims, they\u2019re likely to find themselves in court as pol\nicy holders use the legal system to uphold their Insurance contract. SHARE THIS CONCEPT: http://book.\npersonalmba.com/insurance/ Form of Value #12: Capital Capital is that part of wealth which is devoted to \nobtaining further wealth. \u2014ALFRED MARSHALL, ECONOMIST AND AUTHOR OF PRINCIPLES OF EC"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38074-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 18, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ONOMICS Capital is the purchase of an ownership stake in a business. For parties that have resources t\no allocate, providing Capital is a way to help owners of new or existing businesses expand or enter new m\narkets. Angel investing, venture capital, and purchasing stock in publicly traded companies are all exampl"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38088-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "es of providing value via Capital, which we\u2019ll discuss in detail later in the Hierarchy of Funding. In order to \nprovide value via Capital, you must: 1. Have a pool of resources available to invest. 2. Find a promising b\nusiness in which you\u2019d be willing to invest. 3. Estimate how much that business is currently worth, how mu\nch it may be worth in the future, and the probability that the business will go under, which would result in t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f380a6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "he loss of your Capital. 4. Negotiate the amount of ownership you\u2019d receive in exchange for the amount of\n Capital you\u2019re investing. Businesses benefit from Capital investment because it enables them to gather th\ne resources necessary to expand or enter new industries. Some industries, like manufacturing and financi\nal services, require huge amounts of funding to start or expand. By taking on investors, business owners"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f380b0-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "can secure enough funding to move forward quickly. Investors benefit by acquiring a certain percentage o\nf that company\u2019s ownership, which allows them to benefit from the business\u2019s activities without active invo\nlvement. Instead of leaving their money in a bank account, investors can allocate it to companies that are \ninvolved in promising ventures, which may provide a higher rate of return. If the business brings in a lot of"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f380c4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "cash, investors may benefit from a regular dividend. If it\u2019s acquired by another company or is listed on a p\nublic stock exchange, investors may receive a percentage of the purchase price as a lump-sum payment \nor sell their shares of the company on the open market for a profit. SHARE THIS CONCEPT: http://book.p\nersonalmba.com/capital/ Perceived Value People don\u2019t trade money for things when they value their mon"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f380e2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ey more highly than they value the things. \u2014ROY H. WILLIAMS, THE WIZARD OF ADS All forms of valu\ne are not created equal. Perceived Value determines how much your customers will be willing to pay for w\nhat you\u2019re offering. The higher the perceived value of your offering, the more you\u2019ll be able to charge for it,\n which significantly improves your chances of succeeding. As a rule of thumb, the less attractive the End"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f380f6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "Result (discussed later) and the more end-user involvement it takes to get the benefit, the lower the value\n your customers will place on the offer. Here\u2019s an example: A homeowner may be willing to pay a maximu\nm onetime fee of $50 for a pool cleaning kit, but they\u2019d be willing to pay $250 a month to have someone cl\nean their pool every week for them. The pool gets cleaned either way, but the weekly cleaning service ha"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3810a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s a higher perceived value because the pool owner doesn\u2019t have to spend any time or effort to get the sa\nme desired result. Charging $10,000 a month for your cleaning service, however, won\u2019t work\u2014homeowne\nrs don\u2019t care about having a clean pool that much. Focus on creating Forms of Value that require the least\n end-user effort to get the best possible End Result\u2014they will have the highest perceived value. SHARE"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3811e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "THIS CONCEPT: http://book.personalmba.com/perceived-value/ Modularity Great things are not done by \nimpulse, but by a series of small things brought together. \u2014VINCENT VAN GOGH, ARTIST Keep in mind\n that the Twelve Standard Forms of Value aren\u2019t mutually exclusive: you can offer any number or combina\ntion of these forms to your potential customers to see which ones they like best. Most successful business"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38132-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "es offer value in multiple forms. Take the magazine industry, for example. Magazines charge a monthly or\n annual Subscription fee in exchange for a printed magazine delivered by mail on a periodic basis. Simult\naneously, they use Audience Aggregation to sell access to their subscribers via advertising, which is inclu\nded in the magazine alongside the content. Travel Web sites like Orbitz sell Products (airplane tickets) alo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3813c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ngside tripcancellation Insurance, and display advertising (Audience Aggregation) to Web site visitors. Mo\nvie theaters combine movie showings (a Shared Resource ) with tickets (an Option) and concession sales\n (Products). In most companies, each of these offers is handled separately, and the customer can pick an\nd choose which offers they want to take advantage of. By making offers Modular, the business can create"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3815a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "and improve each offer in isolation, then mix and match offers as necessary to better serve their custome\nrs. It\u2019s like playing with LEGOS: once you have a set of pieces to work with, you can put them together in \nall sorts of interesting ways. SHARE THIS CONCEPT: http://book.personalmba.com/modularity/ Bundling \nand Unbundling A bit of this and a bit of that is how newness enters the world. \u2014SALMAN RUSHDIE, NO"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3816e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "VELIST The benefit of making your offers small and Modular is that it allows you to take advantage of a st\nrategy called Bundling. Bundling allows you to repurpose value that you have already created to create ev\nen more value. Bundling occurs when you combine multiple smaller offers into a single large offer. An exa\nmple of Bundling occurs in the mobile phone industry, where a mobile phone (a physical Product) is bundl"}


created_at: 2024-01-07 10:05:41
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38196-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 19, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "he more benefits provided, the more a customer is typically willing to pay on a monthly basis for the entire\n package. Unbundling is the opposite of Bundling: it\u2019s taking one offer and splitting it up into multiple offers\n. A good example of Unbundling is selling MP3 downloads of a single album instead of the CD. Customer"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f381aa-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s may not be willing to pay $10 for an entire album, but they may be willing to pay a dollar or two for the s\nongs they particularly like. Unbundling the album into individual units opens the way to sales that wouldn\u2019t\n otherwise happen. Bundling and Unbundling can help you create value for different types of customers wi\nthout requiring the creation of something new. By combining offers and forms in various configurations, yo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f381be-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "u can offer your customers exactly what they want. SHARE THIS CONCEPT: http://book.personalmba.co\nm/bundlingunbundling/ Prototype It\u2019s this simple: if I never try anything, I never learn anything. \u2014HUGH P\nRATHER, AUTHOR OF NOTES TO MYSELF The classic MBA product development model is shrouded i\nn secrecy and mystique: develop the offering in private, make everyone involved sign non-disclosure agre"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f381d2-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f381e6-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ur. Don\u2019t be shy about showing potential customers your work in progress. Unless you work in an industry\n with unusually aggressive, competent, and well-funded competitors, you really don\u2019t have to worry about \nother people \u201cstealing\u201d your idea. Ideas are cheap\u2014what counts is the ability to translate an idea into reali\nty, which is much more difficult than recognizing a good idea. \u201cStealth mode\u201d diminishes your early learnin"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f381fa-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "g opportunities, putting you at a huge early disadvantage. It\u2019s almost always better to focus on getting fee\ndback from real customers as quickly as you possibly can. A Prototype is an early representation of what \nyour offering will look like. It may be a physical model, a computer rendering, a diagram, a flowchart, or a \none-page paper that describes the major benefits and features. It doesn\u2019t have to be fancy: all your Protot"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38218-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ype has to do is represent what you\u2019re offering in a tangible way, so that your potential customers can und\nerstand what you\u2019re doing well enough to give you good feedback. For best results, create your prototype \nin the same form as the finished product. If you\u2019re creating a physical product, make a tangible model. If y\nou\u2019re making a Web site, create a working Web page with the basic components. If you\u2019re creating a servi"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38222-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ce, create a diagram or flowchart of everything that happens in the process, then act it out. The more reali\nstic your Prototype is, the easier it\u2019ll be for people to understand what you\u2019re trying to do. The Prototype is\n your first attempt at creating something useful, but it won\u2019t be your last. Your first will be embarrassingly p\noor and incomplete, and that\u2019s okay. Prototypes are valuable because they allow you to get good feedbac"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38240-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "k from real people before you invest a huge amount of time, money, and effort into the project. The purpo\nse of a Prototype is not to make it perfect: it\u2019s to quickly create a tangible focus for your efforts\u2014somethin\ng you and other people can see, evaluate, and improve. As you show your Prototype to potential custome\nrs, you\u2019ll get a steady stream of ideas and Feedback (discussed later) that will help you make your offer e"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38254-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ven better. SHARE THIS CONCEPT: http://book.personalmba.com/prototype/ The Iteration Cycle I have \nnot failed. I\u2019ve just found 10,000 ways that won\u2019t work. \u2014THOMAS A. EDISON, PROLIFIC INVENTOR N\nobody\u2014no matter how smart or talented they are\u2014gets it right the first time. For proof, consider any artist\nic masterpiece. Beneath the finished surface of the Mona Lisa, you\u2019ll find layer upon layer of draft sketche"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38268-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s, false starts, and major alterations. The ceiling of the Sistine Chapel is covered with hundreds of millions\n of very small brushstrokes, each of which brought the resulting masterpiece one step closer to completio\nn. It took Michelangelo millions of hammer strokes to turn a crude block of marble into the David. The Iter\nation Cycle is a process you can use to make anything better over time. There\u2019s nothing wasteful about th"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3827c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e inevitable changes and revisions that these artists made to their creations: every iteration brought the pr\noject one step closer to completion. Iteration has six major steps, which I call the WIGWAM method: 1. W\natch\u2014What\u2019s happening? What\u2019s working and what\u2019s not? 2. Ideate\u2014What could you improve? What are\n your options? 3. Guess\u2014Based on what you\u2019ve learned so far, which of your ideas do you think will mak"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38290-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e the biggest impact? 4. Which?\u2014Decide which change to make. 5. Act\u2014Actually make the change. 6. M\neasure\u2014What happened? Was the change positive or negative? Should you keep the change, or go back\n to how things were before this iteration? Iteration is a cycle\u2014once you measure the results of the change\n and decide whether or not to keep it, you go back to the beginning to observe what\u2019s happening, and the"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f382a4-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "cycle repeats. For best results, clearly define what you\u2019re trying to accomplish with each iteration. Are you\n trying to make the offering more attractive or appealing ? Are you trying to add a new feature people will \nvalue? Are you trying to make the offering cost less without detracting from its value? The more clearly yo\nu can define what you\u2019re after, the easier it\u2019ll be to understand the Feedback (discussed later) you\u2019re recei"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f382b8-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 20, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ving and the more value you\u2019ll extract from each Iteration Cycle. SHARE THIS CONCEPT: http://book.per\nsonalmba.com/iteration-cycle/ Iteration Velocity Our goal is to have more at bats per unit of time and mon\ney than anyone else. \u2014ERIC SCHMIDT, CHAIRMAN AND CEO OF GOOGLE When creating a new offer"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f382d6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ing, your primary goal should be to work your way through each Iteration Cycle as quickly as possible. Iter\nation is a structured form of learning that helps you make your offering better; the faster you learn, the mo\nre quickly you\u2019ll be able to improve. The faster you move through the Iteration Cycle, the better your offeri\nng will become. If you\u2019re really good, you can move through the process several times each day. The key"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f382ea-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "is to keep each iteration small, clear, and quick, basing each iteration on what you learned via previous ite\nrations. The Iteration Cycle often feels like additional work because it is additional work. That\u2019s why so fe\nw people do it: it\u2019s very tempting to skip all of these \u201cextra\u201d steps and attempt to create the final offering o\nutright. The major problem with the direct approach is risk: you\u2019re sinking a great deal of time, energy, and"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f382fe-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "resources into creating something that may not ultimately sell. If the idea\u2019s a dud, it\u2019s far better to figure t\nhat out quickly and inexpensively via a few quick Iteration Cycles than to bet the farm on an idea or marke\nt that just won\u2019t work. Iteration may take some additional effort up front, but after you\u2019ve gone through a fe\nw cycles, you\u2019ll have a deeper understanding of the market, direct knowledge of what people actually wan"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38308-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "t enough to pay for, and a clear understanding of whether or not you have a viable offer to give them. If yo\nu discover that you have what people want, great\u2014full steam ahead. If there\u2019s no demand for what you\u2019re\n developing, you can quickly and cleanly move on to the next promising idea. SHARE THIS CONCEPT: ht\ntp://book.personalmba.com/iteration-velocity/ Feedback No business plan survives first contact with custo\nmers. \u2014STEVEN GARY BLANK, SERIAL ENTREPRENEUR AND AUTHOR OF THE FOUR STEPS TO"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38326-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "THE EPIPHANY Getting useful Feedback from your potential customers is the core of the Iteration Cycle. \nUseful Feedback from real prospects helps you understand how well your offer meets their needs before \ndevelopment is complete, which allows you to make changes before you start selling. Here are a few tips \nto maximize the value of the Feedback you receive: 1. Get Feedback from real potential customers instea"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3833a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "d of friends and family. Your inner circle typically wants you to succeed and wants to maintain a good rela\ntionship with you, so it\u2019s likely that they\u2019ll unintentionally sugarcoat their Feedback. For best results, be sur\ne to get plenty of Feedback from people who aren\u2019t personally invested in you or your project. 2. Ask open\n-ended questions. When collecting Feedback, you should be listening more than you talk. Have a few ope"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3834e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "n-ended questions prepared to give the conversation a bit of structure, but otherwise encourage the other \nperson to do most of the talking. Short who/ what/when/where/why/how questions typically work best. Wat\nch what they do, and compare their actions with what they say. 3. Steady yourself, and keep calm. Asking\n for genuine Feedback (the only useful kind) requires thick skin\u2014no one likes hearing their baby is ugly. T"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38362-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ry not to get offended or defensive if someone doesn\u2019t like what you\u2019ve created; they\u2019re doing you a great \nservice. 4. Take what you hear with a grain of salt. Even the most discouraging Feedback contains crucial\n pieces of information that can help you make your offering better. The worst response you can get when \nasking for Feedback isn\u2019t emphatic dislike: it\u2019s total apathy. If no one seems to care about what you\u2019ve cre"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38380-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ated, you don\u2019t have a viable business idea. 5. Give potential customers the opportunity to preorder. One \nof the most important pieces of Feedback you can receive during the iteration process is the other person\u2019\ns willingness to actually purchase what you\u2019re creating. It\u2019s one thing for a person to say that they\u2019d purch\nase something and quite another for them to be willing to pull out their wallet or credit card and place a re"}


created_at: 2024-01-07 10:05:41
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f383a8-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "have more work to do before you have a viable offer\u2014by asking why they\u2019re not willing to purchase right \nnow, you\u2019ll discover their major Barriers to Purchase (discussed later): what\u2019s holding them back. SHARE \nTHIS CONCEPT: http://book.personalmba.com/feedback/ Alternatives Until one is committed, there is he\nsitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative and creation, the"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f383c6-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 21, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "re is one elementary truth the ignorance of which kills countless ideas and splendid plans: that the mome\nnt one definitely commits oneself, the providence moves too. \u2014W. H. MURRAY, MOUNTAINEER AND W\nRITER It\u2019s Friday night. You\u2019re hungry, and you\u2019re thinking about going out to eat. You\u2019ve already decided\n that you value having food prepared for you enough to justify the extra expense. Where should you go for"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f383da-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f383ee-ad44-11ee-97b3-be9cc6a8b6ef
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created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38402-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "either/or decision. At the same time, there\u2019s no \u201cright\u201d decision\u2014in fact, you may choose to go to the dine\nr one evening and the trendy restaurant the next. It all depends on what you value most at the moment yo\nu decide where to eat. Now let\u2019s flip the situation. You\u2019re the owner of the diner, and you\u2019re looking for wa\nys to serve your customers better and bring new people into the restaurant. What should you focus on im"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38416-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "proving? Would expanding your entr\u00e9e selection, reducing the time it takes to serve customers, or remod\neling the restaurant make the biggest difference to the bottom line? In a perfect world, it would be best to \ndo all of these things, but business has been lackluster recently, and you don\u2019t have an unlimited budget t\no work with. You know you need to do something, but it\u2019s not clear which improvements\u2014if any\u2014would m"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3842a-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ake the cash register ring more often. What do you do? As you develop your offering, you can\u2019t avoid mak\ning choices between competing Alternatives. Should you add a particular feature, or not? Should you opti\nmize for market A, optimize for market B, or attempt to please both? If you invest more in the offering, will \nyour customers be willing to pay more to defray the expense? Examining the possible Alternatives and co"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38448-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "nsidering the customer\u2019s perspective results in better choices. As you make decisions about what to inclu\nde and what to leave out, it\u2019s essential to appreciate the Alternatives that your potential customers face w\nhen they decide whether or not to purchase your offering. Once you\u2019re aware of the options, you can exa\nmine the combinations and permutations of those Alternatives to present an attractive offer. SHARE THIS"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3845c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "CONCEPT: http://book.personalmba.com/alternatives/ Trade-offs I can\u2019t give you a surefire formula for s\nuccess, but I can give you a formula for failure: try to please everybody all the time. \u2014HERBERT BAYAR\nD SWOPE, PULITZER PRIZE-WINNING JOURNALIST A Trade-off is a decision that places a higher valu\ne on one of several competing options. We live in a world where time, energy, and resources are finite. Th"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38470-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ere are only twenty-four hours in a day, you only have so much available energy, and at any given time th\nere\u2019s an upper limit on the amount of money you\u2019re able to spend. What do you do when you can\u2019t do eve\nrything you want? You can\u2019t have everything you want all of the time. Even if your bank account is large e\nnough to purchase a private island, you\u2019re still faced with the decision of which private island to buy. You"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38484-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "may want it all, but you can\u2019t have it all, so you do the best you can by choosing the option with the charac\nteristics that matter most to you at the moment you make the decision. Every minute of every day, you an\nd the people around you are making Trade-offs. Some of these Trade-offs are economic: which pair of pa\nnts should you purchase? Some of them are temporal: should you visit with friends or go to a movie? Som"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38498-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e of them are about effort: should you go to the team meeting or complete the overdue TPS report? Predi\ncting how people will make certain Trade-offs is tricky\u2014values change quickly, given the environment and\n context. Values are preferences \u2014how much we want, desire, or place importance on one particular obje\nct, quality, or state of being versus another. What you value this morning may be different from what you v"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f384ac-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "alue this afternoon or this evening. What you want today may be different from what you want tomorrow. \nWhen making decisions about what to include in your offering, it pays to look for Patterns\u2014how specific g\nroups of people tend to value some characteristic in a certain context. The decisions you make about wha\nt to include and what to leave out will never make everyone happy, so perfection shouldn\u2019t be your goal. B"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f384ca-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "y paying attention to the Patterns behind what your best customers value, you\u2019ll be able to focus on impro\nving your offering for most of your best potential customers most of the time. SHARE THIS CONCEPT: htt\np://book.personalmba.com/tradeoffs/ Economic Values A successful business is either loved or needed. \n\u2014TED LEONSIS, FORMER EXECUTIVE AT AOL AND OWNER OF THE WASHINGTON WIZARDS AN\nD WASHINGTON CAPITALS Every time your customers purchase from you, they\u2019re deciding that they va"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f384de-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "lue what you have to offer more than they value anything else their money could buy at that moment. As y\nou develop your offering, one of your first priorities should be to find out what your potential customers val\nue more than the buying power of the dollars in their wallets. Everyone has slightly different values at any \ngiven time, but there are a few common patterns that appear when people evaluate a potential purchase."}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f384e8-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "Assuming the promised benefits of the offering are appealing, there are nine common Economic Values t\nhat people typically consider when evaluating a potential purchase. They are: 1. Efficacy\u2014How well does \nit work? 2. Speed\u2014How quickly does it work? 3. Reliability\u2014Can I depend on it to do what I want? 4. Eas\ne of Use\u2014How much effort does it require? 5. Flexibility\u2014How many things does it do? 6. Status\u2014How d"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38506-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "oes this affect the way others perceive me? 7. Aesthetic Appeal\u2014How attractive or otherwise aestheticall\ny pleasing is it? 8. Emotion\u2014How does it make me feel? 9. Cost\u2014How much do I have to give up to get t\nhis? In the book Trade-Off: Why Some Things Catch On, and Others Don\u2019t, Kevin Maney discusses these\n common values in terms of two primary characteristics: convenience and fidelity. Things that are quick, re"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3851a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 22, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "liable, easy, and flexible are convenient. Things that offer quality, status, aesthetic appeal, or emotional im\npact are high-fidelity. Almost every improvement you make to an offer can be thought of in terms of impro"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3852e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ving either convenience or fidelity. It\u2019s incredibly difficult to optimize for both fidelity and convenience at th\ne same time, so the most successful offerings try to provide the most convenience or fidelity among all co\nmpeting offerings. If you\u2019re craving pizza, a table at the original Pizzeria Uno in Chicago is high-fidelity; Do\nmino\u2019s home delivery is convenient. Accordingly, Pizzeria Uno benefits more from making the dining expe"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38542-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "rience remarkable, while Domino\u2019s benefits more from delivering decent pizza as quickly as possible. The \nTrade-offs that are made in the development of new offerings are what give each option its unique identity\n. Here\u2019s an example from the apparel business: Old Navy, Banana Republic, and Gap are owned by the s\name company, Gap Inc. All three lines make the same types of clothing\u2014shirts, pants, and so on\u2014but off"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38556-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "er different Trade-offs. Instead of attempting to make a single clothing line that\u2019s designed to appeal to ev\neryone (which is impossible, since everyone wants something different), the company focused each line a\nround a specific Trade-off. Old Navy emphasizes functionality and low cost. Gap emphasizes style and fa\nshion at a moderate cost. Banana Republic emphasizes aesthetics and status at a premium cost. Each lin"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3856a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e has its own identity and appeals to a different type of potential customer, even though the clothes may b\ne manufactured using the same processes and the revenues end up in the coffers of the same company. \nSHARE THIS CONCEPT: http://book.personalmba.com/economic-values/ Relative Importance Testing Th\nings which matter most must never be at the mercy of things which matter least. \u2014JOHANN WOLFGANG\n VON GOETHE, NINETEENTH-CENTURY DRAMATIST, POET, AND POLYMATH The tricky thing about"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3857e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "trying to figure out what people want is that people want everything. Here\u2019s proof: bring together a group \nof potential customers for a focus group. Ask each participant to rate the importance of each of the nine E\nconomic Values for your offering on a scale of 0 to 10. What will the results look like? Regardless of your \nproduct or service, the results will be the same: your customers want products that provide exceptional re"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38592-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "sults instantly, every time, with absolutely no effort. Simultaneously, they want the offer to make them rich,\n famous, attractive, and eternally blissful. They also want it to be free. If you ask them what they\u2019d be willin\ng to give up, they\u2019ll answer that everything is critically important, and they won\u2019t be happy with less. The re\nality outside of the focus group is always quite different. Shortly after the group adjourns, each of those pa"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f385a6-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "rticipants will go out and purchase something that\u2019s not free and not perfect, and they\u2019ll be happy with thei\nr decision. Why? As a rule, people never accept Trade-offs unless they\u2019re forced to make a Decision. If th\ne perfect option existed, they\u2019d buy it. Since there\u2019s no such thing as the perfect offering, people are happ\ny to settle for the Next Best Alternative (discussed later). The best way to discover what people actually v"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f385ba-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "alue is to ask them to make explicit Trade-offs during the research process. The problem with the hypothe\ntical focus group was that it didn\u2019t ask the participants to make any real Decisions\u2014the participants could \nhave everything, so they wanted everything. Relative Importance Testing\u2014a set of analysis techniques pi\noneered by statistician Jordan Louviere in the 1980s3\u2014gives you a way to determine what people actuall"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f385ce-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "y want by asking them a series of simple questions designed to simulate real-life Trade-offs. Here\u2019s how it\n works. Let\u2019s assume we\u2019re conducting a Relative Importance Test for the diner previously mentioned. Inst\nead of asking the participant to rank each benefit from 0 to 10, we show the participant something like the \nfollowing: A. Orders delivered to table in five minutes or less. B. Most entr\u00e9e prices under $20. C. Appeali"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f385ec-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ng restaurant d\u00e9cor. D. Large variety of menu options. After this set is shown, the participant is asked the \nfollowing questions: 1. Which of these items is most important? 2. Which of these items is least important\n? Once the participant answers the questions, another set is shown: E. Unique entr\u00e9es I can\u2019t get anywhe\nre else. F. Knowing I can always order my favorite dishes. G. People are impressed that I dine here. H. La"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38600-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "rge portions. Random question sets containing four or five criteria are provided until there are no more po\nssible combinations or the participant\u2019s attention wanders, which will typically occur around the five- to ten\n-minute mark. It won\u2019t take the participant long to provide a response to each of these simple questions, b\nut the results are quite revealing. By asking the participant to make an actual choice, you\u2019re collecting mor"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38614-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e accurate information about how the participant would respond when faced with a similar choice in the re\nal world. When the results are aggregated and statistically analyzed, the relative importance of each bene\nfit becomes very clear. The more sets each participant completes, the more clearly you\u2019ll be able to judge \nthe relative importance of each benefit.4 Relative Importance Testing can help you quickly determine whic"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38628-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "h benefits you should focus on to make your offering maximally attractive. SHARE THIS CONCEPT: http:/\n/book.personalmba.com/relativeimportance-testing/ Critically Important Assumptions (CIAs) It is better to \nbe roughly right than precisely wrong. \u2014JOHN MAYNARD KEYNES, ECONOMIST Imagine that you\u2019re in\nterested in opening a yoga studio. The market opportunity looks good: you believe that you\u2019ve identified a"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3863c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 23, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "n underserved neighborhood with significant demand and enough discretionary income to pay a $100-plu\ns monthly membership fee. You\u2019ve sketched out what the space would look like, and you have a rough id"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38650-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ea of the different styles you\u2019d like to offer and whom you\u2019d bring in to teach classes. You\u2019ve found a suita\nble location that you can rent for around $10,000 per month (if you sign a twelve-month lease), and you e\nstimate that you\u2019ll need an additional $12,000 per month to pay employee salaries and other monthly oper\nating expenses. You\u2019ll also need to spend around $5,000 up front for equipment: mats, blocks, and a com"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38664-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "puter to handle membership records. The commercial real estate agent you\u2019re working with is putting pres\nsure on you to move quickly, saying the location you want may be snatched up by another tenant if you d\non\u2019t commit now. Your current life savings are enough to cover the start-up costs and three months of proj\nected operating expenses. You\u2019re excited, but you want to ensure that you\u2019re making the right decision be"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38678-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "fore you move forward. Should you sign the lease? Stories like this are very common: an excited first-time\n entrepreneur has a dream of owning a restaurant, bar, or bookstore, so they invest their life savings and t\nake on significant debt to open the new business. Sometimes these stories work out well. More often than\n not, in a few months the new entrepreneur is bankrupt and out of business, wondering how things went s"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3868c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "o terribly wrong. Critically Important Assumptions (CIAs) are facts or characteristics that must be true in th\ne real world for your business or offering to be successful. Every new business or offering has a set of CI\nAs, and if any CIA turns out to be false, the business idea will be vastly less promising than it appears. Th\ne yoga studio example above has three primary CIAs: 1. Individuals in this neighborhood will be willing to"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f386aa-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "commit to pay $100 or more per month for a yoga membership close to their home. 2. The business will b\ne able to attract at least 220 members paying full price within three months. 3. Total monthly revenues will\n exceed $22,000 for the next twelve months, which is the minimum duration of the lease term. Let\u2019s exami\nne what would happen to the yoga studio if these CIAs turn out to be false: 1. Initial interest is high, but m"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f386be-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ost of the people who tour the new studio balk at paying $100 per month, saying that they\u2019d rather drive a \nfew miles and pay $75. The studio lowers prices to $75, which means 300 members are now required to k\neep the studio afloat. After lowering prices, membership reaches the 220- member mark as planned, but it\n\u2019s not enough to keep the studio open. 2. The studio doesn\u2019t attract enough members to pay the bills beca"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f386d2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "use yoga enthusiasts in the neighborhood are already locked into twelve-month membership contracts wit\nh a studio a few miles away. The studio runs out of money quickly and closes. 3. A very nice competing st\nudio opens up in the same neighborhood around the same time. After three months, the studio only has h\nalf of the members it needs to sustain itself. With nine more months on the lease, the financial outlook is b"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f386e6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "leak. Every business or offering has a set of CIAs that will make or break its continued existence. The mor\ne accurately you can identify these assumptions in advance and actually test whether or not they\u2019re true, t\nhe less risk you\u2019ll be taking and the more confidence you\u2019ll have in the wisdom of your decisions. SHARE \nTHIS CONCEPT: http://book.personalmba.com/criticallyimportant-assumptions/ Shadow Testing Praemo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f386fa-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "nitus praemunitus (forewarned is forearmed). \u2014ROMAN PROVERB The best way to validate the truth of \nyour Critically Important Assumptions is to test them directly, but going through the entire process of starti\nng the business is needlessly risky and expensive. It\u2019s much smarter to minimize your risk by testing your \noffering with real paying customers before you fully commit to making it real. Shadow Testing is the proce"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3870e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ss of selling an offering before it actually exists. As long as you\u2019re completely up front with your potential c\nustomers that the offering is still in development, Shadow Testing is a very useful strategy you can use to \nactually test your CIAs with real customers quickly and inexpensively. Real paying customers are always \ndifferent from hypothetical customers. Shadow Testing allows you to get a critical piece of customer feedb"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38722-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ack you can get in no other way: whether or not people will actually pay for what you\u2019re developing. In ord\ner to minimize the risk you\u2019re taking on in committing to the project, your objective should be to start gathe\nring data from real paying customers as soon as possible. Fitbit is a company that knows the value of Sha\ndow Testing. Founded by Eric Friedman and James Park in September 2008, Fitbit makes a small clip-on"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38736-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "exercise and sleep data-gathering device. The Fitbit device tracks your activity levels throughout the day \nand night, then automatically uploads your data to the Web, where it analyzes your health, fitness, and sle\nep patterns. It\u2019s a neat concept, but creating new hardware is time-consuming, expensive, and fraught wit\nh risk, so here\u2019s what Friedman and Park did. The same day they announced the Fitbit idea to the world, t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3874a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "hey started allowing customers to preorder a Fitbit on their Web site, based on little more than a descriptio\nn of what the device would do and a few renderings of what the product would look like. The billing syste\nm collected names, addresses, and verified credit card numbers, but no charges were actually processed \nuntil the product was ready to ship, which gave the company an out in case their plans fell through. Order"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3875e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 24, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s started rolling in, and one month later, investors had the confidence to pony up $2 million dollars to mak\ne the Fitbit a reality. A year later, the first real Fitbit was shipped to customers. That\u2019s the power of Shado\nw Testing. SHARE THIS CONCEPT: http://book.personalmba.com/shadow-testing/ Minimum Economicall"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38772-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "y Viable Offer (MEVO) If you\u2019re not embarrassed by the first version of your product, you\u2019ve launched too l\nate. \u2014REID HOFFMAN, FOUNDER OF LINKEDIN In order to conduct a Shadow Test, you need somethi\nng to sell. Fortunately, you don\u2019t have to create the entire offer before you start selling. A Minimum Econo\nmically Viable Offer (MEVO) is an offer that promises and/or provides the smallest number of benefits nec"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38786-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "essary to produce an actual sale. A MEVO is essentially a Prototype that\u2019s been developed to the point th\nat someone will actually pull out their wallet and commit to making a purchase. It doesn\u2019t have to be comp\nlicated: Fitbit\u2019s MEVO was a Prototype, a description, and a few computer renderings. All you need to do i\ns convey enough information to convince a real potential customer to buy. Creating a MEVO is useful bec"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3879a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ause it\u2019s impossible to predict 100 percent accurately what will work in advance. You don\u2019t want to invest \na ton of time and money in something that has no chance of working, and the faster you can figure out if y\nour idea will work or not, the better off you\u2019ll be. Since Feedback from prospective customers and paid-in-f\null orders are very different things, creating a MEVO allows you to start collecting data from real customer"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f387b8-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "s as quickly as possible, directly testing the idea\u2019s Critically Important Assumptions and reducing the risk \nof making a business-ending investment decision. Here\u2019s how the hypothetical yoga studio we discussed \nearlier could use a MEVO and Shadow Testing to evaluate their CIAs: Step 1: Create a simple Web site d\nescribing the studio in detail, including location, tentative schedule, teaching staff, sketches of the space,"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f387cc-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "and membership fees. The site includes a sign-up form for visitors to preorder memberships by submitting\n their credit card information. By signing up, members commit to a twelvemonth membership when the stu\ndio opens, but they have the opportunity to cancel within the first month if they don\u2019t like it. If the studio do\nesn\u2019t open, all preorders are canceled without charge. Total cost: a few hundred dollars. Step 2: Direct pro"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f387d6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "spective customers to the Web site. This can be done inexpensively in any number of ways: flyers, door-t\no-door inquiry, direct mail, and local search engine advertising. Total cost: a few hundred dollars. Step 3: \nTrack how many individuals sign up for preopening memberships at the full rate via the Web site or reque\nst additional information. Total cost: a few hours of analysis. This simple process can be done quickly and"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f387ea-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "cheaply, and will reveal a great deal about the real-world accuracy of the business\u2019s CIAs. Spending a fe\nw hundred dollars to pretest critical assumptions is a very good use of money, particularly if the findings pr\nevent the investment of larger sums of money in a business idea that\u2019s doomed to fail from the start. The \npurpose of starting with a MEVO is to minimize your risk. By keeping the investments small, incremental,"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38808-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "and learning oriented, you\u2019ll be able to quickly discover what works and what doesn\u2019t. If the idea is promisi\nng, you\u2019re in a great position to make it happen. If your assumptions don\u2019t hold true, you\u2019re able to cut you\nr losses without losing your shirt or your dignity. SHARE THIS CONCEPT: http://book.personalmba.com/\nminimumeconomically-viable-offer/ Incremental Augmentation Pick three key attributes or features, get th"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3881c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ose things very, very right, and then forget about everything else . . . By focusing on only a few core featur\nes in the first version, you are forced to find the true essence and value of the product. \u2014PAUL BUCHHEI\nT, CREATOR OF GMAIL AND GOOGLE ADSENSE Once your MEVO is selling and you\u2019ve proven that y\nour CIAs are valid, you\u2019re in good shape, but you\u2019re not finished. If you\u2019re committed to making your offer"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38830-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "as good as it can be, you\u2019ll need to keep making small changes that improve the offer if you want to stay c\nompetitive and attract more customers. Incremental Augmentation is the process of using the Iteration Cy\ncle to add new benefits to an existing offer. The process is simple: keep making and testing additions to th\ne core offer, continue doing what works, and stop doing what doesn\u2019t. The process of customizing cars is"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38844-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "an example of Incremental Augmentation. Starting with a stock car, the \u201ctuner\u201d steadily replaces and upgr\nades parts: a better engine, spoiler, tinted windows, and chrome hubcaps. The intent of every change is t\no make the car just a little bit better, until it\u2019s the best it can be. When the car is finished, it\u2019s a different ma\nchine. Incremental Augmentation helps you improve your offering while minimizing the risk that any single"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38858-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "iteration will fail catastrophically. If you\u2019re not careful, drastic changes after launch can eliminate the qualit\nies that made your offer attractive or break the systems you use to create the value you\u2019re providing to yo\nur customers. By making and testing changes quickly and incrementally, you can continually improve your\n offer without betting the farm, helping you create even more value for your customers over time. Keep in"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3886c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "mind that Incremental Augmentation can only take you so far. In order to enter a new market or change th\ne game, you may need to create something completely new. If that\u2019s the case, start over with a new Proto\ntype and work your way through the value creation process from the beginning. When it\u2019s ready, get Feed\nback and use Testing (discussed later) to compare the new version with the old version to make sure it\u2019s"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38880-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 25, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "actually better before you launch it. SHARE THIS CONCEPT: http://book.personalmba.com/incrementala\nugmentation/ Field Testing Any engineer that doesn\u2019t need to wash his hands at least three times a day is\n a failure. \u2014SHOICHIRO TOYODA, FORMER CHAIRMAN OF THE TOYOTA MOTOR CORPORATION"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38894-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "A hundred and fifty days a year, Patrick Smith lives in the Colorado wilderness, just as he has for the past\n fifty years. Smith is the founder of the Colorado School of Outdoor Living and two successful hunting/bac\nkpacking companies: Mountainsmith, which he sold in 1995, and Kifaru International, which he created in \n1997. Becoming a Kifaru customer is a quick way to overheat your credit card. Kifaru makes arguably the"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f388b2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "best hiking and hunting packs and shelters in the world\u2014extremely rugged, lightweight, and well designed\n. Kifaru packs can carry two hundred pounds comfortably, will last for decades, and sell for hundreds of d\nollars. It\u2019s not uncommon for avid sportsmen and soldiers to shell out thousands of dollars for custom-mad\ne Kifaru gear, then wait eagerly for six to eight weeks while the company makes it. Try as you might, it\u2019s e"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f388c6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "xtremely difficult to find a Kifaru customer who\u2019s disappointed in the quality of their gear. More often than \nnot, a new Kifaru customer is a customer for life. The secret behind Kifaru\u2019s quality is Field Testing. Smith \npersonally creates, uses, and Iterates every single product Kifaru makes for years before offering it to cust\nomers. By the time the finished product is available, even the most demanding customers have a difficult t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f388da-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ime finding flaws. Here\u2019s what Smith says about his personal approach to Field Testing: The backcountry i\ns definitely both my inspiration and my laboratory. I\u2019ve figured out how to create designs out there [in the fi\neld]. I trust this technique. I get instant feedback about designs because I\u2019m in the backcountry doing the t\nhings the design is for, and testing it right then, in the real world arena it\u2019s intended for . . . I really do think"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f388ee-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "this is a better design process than sitting in front of a computer in an office in town. I think it\u2019s a win/win si\ntuation.5 Field Testing has a long and distinguished history in the creation of successful businesses. In 19\n23, W. H. Murphy, of the Protective Garment Corporation of New York, had an associate shoot him in the \nchest from ten feet away in front of a public audience to prove his product worked\u2014a marketing stunt bas"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38902-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ed on extensive Field Testing to verify that the vest was capable of stopping live rounds. Miguel Caballero\n, a Colombian suit manufacturer who has created bulletproof suits for heads of state like Barack Obama a\nnd Hugo Ch\u00e1vez, has continued the tradition by posting videos of people wearing his suits being shot poin\nt-blank in the stomach on YouTube.6 Most major automotive manufacturers put new car designs through"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38916-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "on-and off-road obstacle courses to test performance and handling in real-world conditions. Software com\npanies like Microsoft and Google extensively Field Test their new products internally with employees befor\ne releasing them to customers. Testing internally allows the company to eliminate any bugs before custo\nmers ever see the product. Using what you make every day is the best way to improve the quality of what"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3892a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "you\u2019re offering. Nothing will help you find ways to make your offer better than being its most avid and dem\nanding customer. SHARE THIS CONCEPT: http://book.personalmba.com/field-testing/ 3 MARKETING Th\ne cardinal marketing sin is being boring. \u2014DAN KENNEDY, MARKETING EXPERT Offering value is not \nenough. If no one knows (or cares) about what you have to offer, it doesn\u2019t matter how much value you cr"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3893e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "eate. Without Marketing , no business can survive\u2014people who don\u2019t know you exist can\u2019t purchase what\n you have to offer, and people who aren\u2019t interested in what you have to offer won\u2019t become paying custo\nmers. Every successful business finds a way to attract the attention of the right people and make them int\nerested in what\u2019s being offered. Without prospects, you won\u2019t sell anything, and without completing profita"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38952-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ble transactions, your business will fail. Marketing is the art and science of finding \u201cprospects\u201d\u2014people wh\no are actively interested in what you have to offer. The best businesses in the world find ways to attract th\ne attention of qualified prospects quickly and inexpensively. The more prospects you entice, the better off \nyour business will be. Marketing is not the same thing as selling. While \u201cdirect marketing\u201d strategies often"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38966-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "try to minimize the time between attracting attention and asking for the sale, Marketing and selling are two\n different things. Marketing is about getting noticed; Sales, which we\u2019ll discuss in chapter 4, is about closin\ng the deal. SHARE THIS CONCEPT: http://book.personalmba.com/marketing/ Attention In an attention ec\nonomy (like this one), marketers struggle for attention. If you don\u2019t have it, you lose. \u2014SETH GODIN, BE"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3897a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ST-SELLING AUTHOR OF PERMISSION MARKETING, PURPLE COW, AND TRIBES Modern life is ove\nrloaded with demands on your Attention. Think of all of the things that are competing for your attention rig\nht now: there\u2019s work to be done, people to call, e-mail to check, TV to watch, music to listen to, and countl\ness Web sites to visit. Everyone has too many things to do, and too little time to do them all. Rule #1 of M"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f3898e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "arketing is that your potential customer\u2019s available attention is limited. Keeping up with everything in your \nworld would require way more attention than you actually have to work with. To compensate, you filter: yo\nu ration your attention, allocating more to things you care about and less to things you don\u2019t. So does ever\nyone else, including your potential prospects. To get someone\u2019s attention, you have to find a way around t"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f389a2-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 26, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "heir filters. High-quality attention must be earned. When you\u2019re seeking someone\u2019s attention, it\u2019s useful to \ntake a moment to remember that you\u2019re competing against everything else in their world. In order to be no\nticed, you need to find a way to earn that attention by being more interesting or useful than the competing"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f389b6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "alternatives. Attention doesn\u2019t matter if people don\u2019t care about what you\u2019re doing. If all you\u2019re looking for i\ns attention, don\u2019t bother with all of this business stuff: skipping down the street in a pink bunny suit while y\nelling at the top of your lungs will get you all the attention you\u2019ll ever want. When it comes to business, ho\nwever, some kinds of attention aren\u2019t worth having. You want the attention of prospects who will ultimately"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f389ca-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "purchase from you\u2014 otherwise, you\u2019re wasting your time. It\u2019s nice to be the center of attention, but busin\ness is about making profitable sales, not winning a popularity contest. Being featured on national televisio\nn or on a huge Web site is a wonderful thing, but very often this kind of broad publicity fails to deliver actu\nal sales. Spending time and energy acting like a socialite reduces the amount of resources you can devot"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f389e8-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "e to creating real value for your customers, which doesn\u2019t help anyone. Earn the attention of the people w\nho are likely to buy from you, and you\u2019ll inevitably build your business. The mental models in this chapter \nwill show you how. SHARE THIS CONCEPT: http://book.personalmba.com/attention/ Receptivity They sa\ny it takes 7 exposures to a product ad before you\u2019ll want to buy it, but after 8,743 spam emails for Viagra, I"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f389fc-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "still don\u2019t want it! \u2014ERIN PAVLINA, INTUITIVE COUNSELOR AND BLOGGER AT ERINPAVLINA.COM \nPeople ignore what they don\u2019t care about. One of the primary functions of the human brain is perceptual fil\ntering: determining what to pay attention to and what to ignore. The fastest way to be ignored by anyone i\ns to start talking about something they don\u2019t care about. Receptivity is a measure of how open a person is"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38a10-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "to your message. Rabid fans of hit novels like Stephenie Meyer\u2019s Twilight books are paragons of Recepti\nvity: they\u2019re interested in almost anything they can find about their obsession as soon as it\u2019s available. Fro\nm a business perspective, that\u2019s ideal \u2014it\u2019s difficult to offer something that this audience won\u2019t want imme\ndiately. On the other hand, a committed ethical vegan isn\u2019t likely to be interested in hearing about the ben"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38a24-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "efits of red meat consumption, regardless of how much disconfirming evidence there is or how compelling\n the presentation. The worldview mismatch is just too big, and even the largest publicity campaign won\u2019t b\ne able to overcome the overwhelming urge to ignore. Receptivity has two primary components: what and \nwhen. People tend to be receptive only to certain categories of things at certain times. I love hearing abou"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38a42-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "t great new business books, but I never want to be on the receiving end of a 3:00 a.m. phone call from a p\nublicist. If you want your message to be heard, the medium matters. The form of your message has a big i\nnfluence on how receptive people are to the information that message contains. If the form of your messa\nge suggests that it was created just for them, you\u2019re far more likely to get your prospect\u2019s attention. Here\u2019s"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38a56-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "an example: Almost everyone will ignore postal junk mail\u2014if it looks blatantly commercial or mass-produc\ned, there\u2019s a 99 percent chance the recipient will throw it away without a second thought. Change the for\nm, however, and Receptivity changes as well. Most people will at least open a hand-addressed envelope, \nsince it\u2019s clear someone spent time and effort sending it to them. Taken to an extreme, almost everyone (i"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38a6a-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ncluding busy executives) will open and look through the contents of a large overnight hand-addressed Fe\ndEx envelope\u2014it\u2019s big, expensive, and clearly requires effort to send. Even then, if the contents don\u2019t mat\nch what they\u2019re interested in, you\u2019ll lose their attention immediately. SHARE THIS CONCEPT: http://book.\npersonalmba.com/receptivity/ Remarkability Advertising is the tax you pay for being unremarkable. \u2014RO"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38a7e-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "BERT STEPHENS, FOUNDER OF GEEK SQUAD Every time I go for a run, people ask me about my sho\nes. They don\u2019t ask me because they\u2019re fashionable: they ask me because they\u2019re weird. Vibram FiveFinge\nrs are shoes that look like a cross between a sock and a glove. Wearing them makes you look a bit like a f\nrog: each toe has its own little pocket, giving your feet a slightly amphibian look\u2014odd enough to be notice"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38a92-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "d. I picked up a pair of FiveFingers to experiment with barefoot running\u2014the thin rubber sole protects you\nr feet from rocks and glass without adding any unnecessary support, which lets your feet do what they\u2019re \nnaturally designed to do. Running or walking in FiveFingers is surprisingly fun, which is why I keep wearin\ng them. FiveFingers are just strange enough that people can\u2019t help but notice your feet when you wear the"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38aa6-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "m\u2014they violate expectations of what shoes are supposed to look like. As a result, people ask me about th\nem constantly\u2014 even in as \u201cunfriendly\u201d a place as the streets of New York City. By the end of the convers\nation, I\u2019ve inevitably told my new acquaintance what they are, why I\u2019m wearing them, how much they cost,\n and where they can purchase them. FiveFingers are designed to overcome the number one problem eve"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38aba-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ry new offering faces: if no one knows you exist, no one will buy what you have to sell. Every customer wh\no wears a pair of FiveFingers inevitably provides Vibram all of the advertising they need to keep growing\n\u2014for free. From a business perspective, the Attention-grabbing design of FiveFingers is working beautifull\ny. On the street, salespeople confirm that FiveFingers are flying off the shelves\u2014new stock sells out almo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38ace-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 27, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "st immediately. According to the New York Times (\u201cWiggling Their Toes at the Shoe Giants,\u201d August 30, 2\n009), sales of the FiveFingers line have tripled every year since they were introduced in 2006, and in 200\n9 revenue crossed the $10 million mark in North America\u2014without mass-market advertising. Not bad for f"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38aec-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "unny-looking frog shoes. Being Remarkable is the best way to attract Attention. In the classic marketing b\nook Purple Cow, Seth Godin uses a wonderful metaphor to illustrate this principle. A field full of brown co\nws is boring. A purple cow violates the viewer\u2019s expectations, which naturally attracts Attention and intere\nst. If you design your offer to be Remarkable\u2014unique enough to pique your prospect\u2019s curiosity\u2014it\u2019ll be si"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38b00-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "gnificantly easier to attract attention. SHARE THIS CONCEPT: http://book.personalmba.com/remarkability\n/ Probable Purchaser There are 6 billion people on this planet. 99.999% of them would rather not give you\n their money. \u2014HUGH MACLEOD, CARTOONIST AND AUTHOR OF IGNORE EVERYBODY Assuming t\nhat everyone in the world cares about what you have to offer is a huge marketing mistake. You may think"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38b14-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "that what you have to offer is the greatest thing since sliced bread\u2014in fact, I hope you do! That doesn\u2019t ch\nange the fact that it\u2019s not right for everyone. Whatever you\u2019re offering, I can guarantee you that most of th\ne people in this world don\u2019t\u2014and will never\u2014care about what you\u2019re doing. Harsh but true. Fortunately, yo\nu don\u2019t have to appeal to everyone in order to succeed. You just have to attract enough Attention to close"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38b32-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "enough sales to produce enough profit to keep going. To do that, it\u2019s best to focus on attracting the attenti\non of the people who will actually care about what you\u2019re doing. Skilled marketers don\u2019t try to get everyon\ne\u2019s attention\u2014they focus on getting the attention of the right people at the right time. If you\u2019re marketing H\narley-Davidson motorcycles, trying to land an appearance on Oprah to show off this year\u2019s new models pr"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38b46-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "obably isn\u2019t the best strategy. Likewise, Oprah\u2019s core audience is not likely to include burly men in leather \njackets with handlebar mustaches and tattoos, so don\u2019t expect her to pay for a marketing booth at a motor\ncycle trade show any time soon. Your Probable Purchaser is the type of person who is perfectly suited to \nwhat you\u2019re offering. Harley\u2019s most profitable customer is the \u201cweekend warrior\u201d\u2014middle-aged men with d"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38b5a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "isposable income who want to feel powerful and dangerous while cruising around in their spare time. Opr\nah\u2019s Probable Purchasers are middle-aged women who want to improve themselves and enjoy listening t\no intimate confessions and emotional stories. Harley doesn\u2019t try to appeal to Oprah\u2019s Probable Purchaser\ns, and vice versa \u2014they each focus on appealing to their specific core audience, to great effect. Attemptin"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38b6e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "g to appeal to everyone is a waste of time and money: focus your marketing efforts on your Probable Purc\nhaser. By spending your limited resources reaching out to people who are already interested in the types \nof things you offer, you\u2019ll maximize the effectiveness of your attentiongrabbing activities. SHARE THIS CO\nNCEPT: http://book.personalmba.com/probablepurchaser/ End Result People don\u2019t buy quarter-inch drills;"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38b82-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "they buy quarter-inch holes. \u2014THEODORE LEVITT, ECONOMIST AND FORMER PROFESSOR AT HA\nRVARD BUSINESS SCHOOL Most business opportunity seekers aren\u2019t really interested in the day-to-day\n details and responsibilities of running a business. They buy business books and courses because they w\nant to experience a more prosperous, abundant, and hopeful future. Most drivers don\u2019t buy expensive off-r\noad-capable vehicles because they actually drive off the road. They buy them because off-road capability"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38b96-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "makes them feel adventurous and bold, capable of meeting any driving challenge. Most women don\u2019t buy \na $20 tube of lipstick for its color alone. They buy it because they believe it will make them more beautiful \nand desirable. Most college students don\u2019t pay hundreds of thousands of dollars to Harvard or Stanford or\n Yale just to sit in a class. They go (or, rather, their parents send them) because they believe they\u2019ll be per"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38baa-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ceived as sophisticated, intelligent, and powerful after they graduate. Marketing is most effective when it f\nocuses on the desired End Result, which is usually a distinctive experience or emotion related to a Core H\numan Drive. The actual function of the purchase is important, but the End Result is what the prospect is m\nost interested in hearing about. It\u2019s often far more comfortable to focus on the features: you know what yo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38bbe-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "ur offer does. Even so, it\u2019s far more effective to focus on the benefits: what your offer will provide to custo\nmers. The End Result is what matters most. By focusing on the End Result, you\u2019re homing in on what will \ncause your prospect to conclude, \u201cThis is for me.\u201d SHARE THIS CONCEPT: http://book.personalmba.com\n/end-result/ Qualification The product that will not sell without advertising will not sell profitably with adverti"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38bdc-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "sing. \u2014ALBERT LASKER, FORMER CEO OF LORD & THOMAS AND PIONEER OF MODERN ADVER\nTISING Believe it or not, it\u2019s often wise to turn away paying customers. Not every customer is a good cust\nomer: customers who require more time, energy, attention, or risk than they\u2019re worth to your bottom line ar\nen\u2019t worth attracting in the first place. Qualification is the process of determining whether or not a prospect"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38bf0-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "is a good customer before they purchase from you. By evaluating a prospect before they buy, you can mi\nnimize the chance of wasting your time dealing with a customer who\u2019s not a good fit for your business. Pr\nogressive Insurance has turned Qualification into a profitable business strategy. To see Qualification in ac\ntion, go to the Progressive Insurance Web site (www.progressive.com) and request a quote for car insura"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38c04-ad44-11ee-97b3-be9cc6a8b6ef
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 28, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "nce. When you request a quote, Progressive asks you a set of basic questions: 1. What type of car do yo\nu have? 2. Do you own or lease it? If you own it, are you still making payments? 3. What\u2019s your ZIP code?"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38c18-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
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{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 29, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "4. Are you married? 5. Did you go to college? 6. Have you had any at-fault accidents in the past five year\ns? Progressive then uses your answers to gather data from a series of databases to answer two question\ns: a. Are you the type of person Progressive wants to insure? b. If so, how much should they charge to ins\nure you? If you\u2019re the type of person Progressive wants as a customer, they\u2019ll quote you a price and enco"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38c2c-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 29, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "urage you to purchase an insurance policy immediately. If you\u2019re not, Progressive will tell you that you can\n get a better price elsewhere and actively encourage you to purchase insurance from one of their competit\nors. Why in the world would a business encourage a hot prospect to purchase from the competition? As y\nou recall from our previous discussion of Insurance, the profitability of an insurer depends on collecting as"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38c40-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 29, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "much money as possible in premiums while paying out as little money as possible in claims. Progressive \ndoesn\u2019t want to maximize its total client base: it wants to insure only people who are likely to drive safely a\nnd have few accidents, which means attracting customers who will pay premiums for a long time without \nmaking claims. Qualification allows Progressive to maximize the number of highly profitable customers it i"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38c5e-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 29, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "nsures while funneling the \u201cbad risks\u201d directly to their competitors. It\u2019s good for customers as well\u2014if they\u2019\nre \u201cgood risks,\u201d they get lower rates on their car insurance. Screening your customers can help you filter o\nut the bad customers before they do business with you. The more clearly you define your ideal customer, \nthe better you can screen out the prospects who don\u2019t fit that description, and the more you\u2019ll be able to fo"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38c72-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 29, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "cus on serving your best customers well. SHARE THIS CONCEPT: http://book.personalmba.com/qualifica\ntion/ Point of Market Entry There is nothing harder than the softness of indifference. \u2014JUAN MONTALVO\n, ESSAYIST Assuming you don\u2019t have a small child and aren\u2019t expecting one any time soon, you probably\n don\u2019t care about diapers, strollers, cribs, infant toys, day care, and Baby Einstein DVDs. Any information"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38c86-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 29, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "you\u2019re exposed to about these things is likely to be filtered away by your brain, since it\u2019s not relevant to yo\nur life at the moment. But once you\u2019re expecting a little bundle of joy to enter your life, you suddenly care \na great deal about these things, and will probably start actively searching for information about them. Befo\nre hearing the news, you had no reason to care; now you do. Certain markets have clearly defined entry a"}


created_at: 2024-01-07 10:05:41
topic: persistent://default/default/46953148-6970-44f8-adec-ceb4242926f3
id: 44f38c9a-ad44-11ee-97b3-be9cc6a8b6ef
encoding: FLOAT32
metadata:
{"source": "source_documents/The Personal MBA.pdf", "file_path": "source_documents/The Personal MBA.pdf", "page": 29, "total_pages": 127, "format": "PDF 2.0", "title": "", "author": "", "subject": "", "keywords": "", "creator": "", "producer": "", "creationDate": "D:20231231061515Z", "modDate": "D:20231231061515Z", "trapped": "", "chroma:document": "nd exit points. Learning a newborn is on the way is an example of a Point of Market Entry. Once you know\n you\u2019re expecting, you\u2019re suddenly much more receptive to information about products and services that w\nill help you take care of a child. Attempting to attract the Attention of people who don\u2019t care about what yo\nu do is a waste of time, money, and energy, so it\u2019s best to find out when people are interested in hearing f"}


