On Blogging, Cheating, and Winning: Business Lessons From Seth Godin
Motley Fool co-founder David Gardner may also spend lots of time working for his purpose of assisting us all to invest higher, however that is just component of his ambition. Really, he wants to assist us all to stay higher, and financial protection is just one piece of that.
Another piece: Introducing us to captivating new ideas and the authors who proportion them. So this month, the Rule Breaker Investing podcast’s subject matter is “Authors in August,” and to guide off, he’s got writer, entrepreneur, blogger, and marketing guru Seth Godin, whose famous nonfiction books consist of The Dip, Purple Cow, and Free Prize Inside.
In this section, Godin talks about his views on why anyone has to be running a blog, plus why organizations and marketers ought to be “dishonest” — even though his definition of that might not be what you’ll expect.
David Gardner: Let’s shift now a little bit from marketing to commercial enterprise, only a few minds. I assume that changed into a pleasant transition right there, assisting us alongside. Seth, your blog, I’m thinking about your blog, perhaps the first popular weblog that I learned about. When did you formally begin Seth’s Blog, and what are your reflections on it?
Seth Godin: My recollection is, it changed into an electronic mail e-newsletter in 1990 or ’91. I had a touch bit of a head start, 27 years. It didn’t attain its official modern-day shape until maybe 15 years in the past.
For me, what it represents is, absolutely everyone can be a columnist now. They provide Pulitzer prizes to newspaper columnists, but all and sundry can be one. Anyone who has something to mention or proportion can positioned that into the world. If you’re no longer doing it, I think you are being egocentric, due to the fact there are folks who want to pay attention from you, there are folks that need to be related through you. If you are now not showing up to try this, I experience like you are taking matters from people.
Gardner: Does running a blog pay?
Godin: Pay cash cash?
Godin: Using a StairMaster will pay, due to the fact you are not going to have a heart attack, and that’s surely high-priced. I think having a blog will get you a higher activity in the end, it’s going to assist you make better decisions, it’ll do limitless matters for you. But in case you’re looking to run a blog on Tuesday so that you make cash on Wednesday, you’re going to be a awful blogger and now not an excellent citizen, both.
Gardner: Seth, I want to go to a page. We’re going to stick with commercial enterprise here. I’m deliberating web page 38 from Purple Cow, which you noted. Besides your ebook popping out this November, This is Marketing: You Can’t Be Seen Until You Learn To See, but, you noted Purple Cow similarly, is an awesome one to begin with, and I agree. On web page 38, at least of my edition, you write a short bankruptcy, I assume it’s approximately one page, and it is referred to as Cheating. I’ve continually cherished this concept.
Cheating, for me, as an investor, I’m looking for corporations, for your phrases, that cheat — essentially locating groups which have a few unfair competitive gains. I’ll supply two short examples. Old Dominion Freight Lines, that’s a much less than truckload trucking agency, and a completely high-quality one for extra than a century, essentially does not have any unionized personnel in an industry that is dominated by means of unionized workforces. They’re cheating, for your parlance. Or, Netflix being able to bid on TV show content primarily based on its voluminous patron information that its competitors simply lack. Netflix is cheating. And so on.
First off, I love the concept. It’s always helped me pick out stocks. Second, do you have some newer examples these days that you consider whilst you’re considering the good shape of dishonest?
Godin: What I mean by using cheating is, what commercial enterprise is supposed to do, that’s to create an asset that, once they use it, offers them leverage over everyone else. Otherwise, every body’s inside the commodity commercial enterprise. So, most people who pump oil out of the ground are pumping oil out of floor the same as everyone else. It’s a commodity. You don’t care, while you fill your car up with gasoline, what sort of gas you are putting in. The aim here is to discover an institution that has that asset and might positioned it to work.
Think approximately the ratchets that Amazon has been turning for the final ten years. Now, they have two or 3 ratchets all running in the identical route. They have a logo that people agree with. They have the lowest cost of doing positive forms of operations. They have the maximum efficient web offerings. When you upload the one’s things up, it is an unfair benefit.
But it’s also a kind of cheating if you have permission to speak to humans. If I can ship an email to one million humans and say, “My new ebook is ready,” I’m dishonest. I can put my new e-book in front of 50 instances as many people as an writer who waited till the last minute earlier than they began to construct a target market. So, what my books are about is, which assets will we pick out to construct? Not just because we’re desirable people and good citizens, but because as soon as we construct one of these belongings, then we have the privilege of doing ever-better paintings, and we can use that asset to strengthen our head begin.