Laziness & Procrastination: It Isn’t A Fault, It’s a Strategy

We live in an 80 / 20 world. In most major areas of economic life, it is a fact that 80 percent of the value is created by 20 percent of the participants. Most startups fail, a few make billions. Most products fail, a few become block busters. This can be applied within a business all the way down to the order and line line. A few customers, a few orders, a few products… a few opportunities create most of the value.

In fact, this trend is only accelerating as digitization advances. We’re seeing an even more intense form of the 80 / 20 allocation in the form of winner take most markets. Google’s organic search results are a great example of this. We’re going to rank every website that is possibly related to your term and show them in order. First gets 60% of the clicks, next gets about 25%, third place around 10%, bottom of the first page gets 1%. Anything after that is consigned to oblivion. That’s not an 80/20, that is closer to a 64 / 4 or a 51 / 1. A brutal second or third derivative of the 80 / 20 concept.

It’s not just Google. The same dynamic applies on Amazon. Or LinkedIn and Monster.com. Facebook. Tinder and dating sites. Any place in the economy where infinite players can compete for a finite resource. Like Highlander, there can be only 1 (top result).

This doesn’t just affect companies. It affects your career and social partnerships.

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How to Value A Website with No Revenue

The starting point for most website valuations is a multiple of current revenue, generally set based on recent transactions of similar properties (aka. comps). The most common way to value a website is to price it as a multiple of monthly recent earnings. Most blogs would be priced at 30 – 40 times monthly advertising earnings, unless there are other issues present. But how do you value a website with no revenue?

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How To Turnaround A Failing Business

If you run your own business and it has all been plain sailing, then you are one of the lucky few. Most businesses have their peaks and troughs, and most must fight their way out of a crisis or two. The types of businesses most at risk of experiencing a crisis are the small startup businesses. When you have only a few customers, for example, one large customer failing to pay can put the business at risk.

They say that setbacks are a great learning experience. But that’s small comfort when you are looking at the potential demise of your business. So, here are ten practical tips for any business owner who is struggling with a business in crisis.

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