Examples of Advantage Flywheels
“Competitive advantage can be represented visually as 1 or more feedback loops. These create the advantage “flywheel” that maintain and grow a moat over time. Think of a big, heavy wheel that takes some effort to get started but then coasts off its own momentum. [Above] are 6 simple examples of common advantages represented as flywheels”
The shortest distance between two points is reliably a straight line. If your dreams are apparent to you, pursue them. Creating optionality and buying lottery tickets are not way stations on the road to pursuing your dreamy outcomes. They are dangerous diversions that will change you.
People with intellectual humility are open to being wrong, consider other perspectives, and are willing to change their minds. “Leaders with intellectual humility are able to transcend the temptation to doggedly defend their own ideas,” says Bradley Owens, professor of ethics at Brigham Young University, “They are willing to sacrifice some of their power and even reputation to ensure the right outcome.
Lessons from Jim Kavanaugh, a Tech Investor:
“He’s as invested as I am in understanding how the tech works for the purposes of investing in the right areas.” Kavanaugh devours books on innovation in his free time, and he has adorned conference rooms with quotes from Richard Branson, Elon Musk and other famous entrepreneurs.
“The speed of new technology being introduced is at an all-time high,” Kavanaugh says. “And isn’t going to slow.”