Author Archives

David Taylor

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Is Your Business Missing Out on Valuable Opportunities?

Microsoft, Amazon, Apple and Facebook get much of their value through the use of Multisided Platforms (MSPs).

MIT Sloan define a multisided platform as “technologies, products or services that create value primarily by enabling direct interactions between two or more customer or participant groups.” For example:

  • Apple connects app developers with iPhone users who have a need for the functionality that the app provides.
  • LinkedIn connects professionals, recruiters, and advertisers.
  • Microsoft uses Windows to connect users, third party app developers, and third party hardware manufacturers
  • Amazon and Alibaba connect sellers of products with a vast set of users that want to buy products.
  • AirBnB connects building owners with people needing to rent space.
  • Uber and Lyft connect drivers and passengers.
  • American Express, Visa, Paypal, and Square connect merchants to consumers.

MSPs are a very valuable and viable business model that creates value by reducing search or transaction costs for all participants.

Is your business leaving money on the table by not leveraging an MSP approach? Or, worse yet, are you leaving your business vulnerable to competition who have determined a unique MSP offering that threatens your existence?

What can you do to leverage the MSP strategy and how can you implement it in your business?

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What Are Your Most Pressing Problems and How Can I Help?

This is not my typical weekly blog post! I am looking for some very specific feedback from you.

Are there areas where you or your business need a little extra help to push through to the next level of success?

Drive for Success

Most business leaders have an incredible drive to be successful and to make their business ventures successful. They are motivated to continually improve and grow as individuals and to transfer that growth and improvement to their business and their staff.

Not only do they want to provide for themselves and their family, they want to build a thriving and growing business that offers a solid career for their staff and makes an impact in their communities and in the world.

Problems

However, there are times where leaders hit a wall or get stumped by problems that limit their business success. I have been a business executive for many years and I have experienced the highs and the lows of business. I know what it is like to be hit with issues that limit business success so I can help!

I would like to know what problems you are facing so that I can enable you by providing relevant and helpful content and tools. Are you having issues with:

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Principles

Life and Work

This week’s book summary is Principles by Ray Dalio.

Dalio, founder of Bridgewater Associates, the fifth most important private company in the United States (according to Forbes), does a stellar job in laying out his Personal History (for context), Life Principles, and Work Principles. I highly recommend this book to all business leaders. It is full of great business advice, leadership advice, personal advice, and practical application.

My takeaway from this book are the 16 Work Principles that Dalio describes in detail in the book (listed below for your reference):

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How to Make Your Customer a Hero

Everybody wants to be a hero! We all want to be the shining star that our family, friends, peers, industry, and customers look up to!

However, to be that hero, a business leader must take a counterintuitive step backwards and become a supporting character.

Our customers do not want to hire a hero, they want to be the hero!

The best thing we can do for our businesses and careers is to make the customer the hero. In doing so, we will accelerate our business and career and, in a round about way, become heroes ourselves!

What does this supporting character look like? Well, Luke Skywalker would never have succeeded without Yoda by his side to equip and guide him. James Bond would have died in his first movie if Q had not outfitted him with state of the art gear. This theme repeats over and over again in movies, comic books and in real life!

No great leader has ever risen to the top without being supported and guided along the way by a cast of supporting characters. We all have teachers, mentors, coaches, and advocates in our personal and professional journeys that have shaped us into who we are today. This applies to world leaders, business people, innovators, athletes and entrepreneurs. It applies to Elon Musk, Jeff Bezos, Warren Buffet, Bill Gates, Michael Jordan, and to you, me and our customers!

So, how do you become the supporting character and make your customer the hero?

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How To Build a Powerful Performance Review System That Works

By many accounts, Ray Dalio is a very successful person. He is most well known for being the founder and the driving force of  Bridgewater Associates, which Forbes calls “the fifth most important private company in the United States.”

However, what many people don’t know about Dalio is that he is the creator of some amazing systems that, among other things:

  • Measure performance
  • Spur innovative thinking
  • Motivate people to develop and grow
  • Position businesses for success

He credits much of his personal and business success to the creation and implementation of these systems.

One of these systems is for employee performance management. Although performance reviews are typically the bane of every employee and manager’s existence, Bridgewater has created an engaging system that gets beyond many of the pitfalls of traditional performance assessments.