Alan Weiss’s Monday Morning Memo® – 7/8/13
July 8, 2013—Issue #198
This week’s focus point: Amazon (according to the New York Times) has a larger market share of new and used books than anyone else has or over had. Beyond that, when I needed a special frame yesterday to be consistent with others on my wall, I immediately found it on Amazon and was offered free shipping. Probably 90% of you have used Amazon at some point. It has come to represent tremendous speed, diversity, and value to consumers. Amazon lost money for years before gaining traction, like cable TV or cell phone carriers, trying to create critical mass. Some competitors are complaining (in the same Times article) that Amazon is “too powerful” now. Welcome to capitalism! You invest, you take risks, and if you’re good (and sometimes lucky), you reap the rewards. As Bill Belichick, Patriots coach, said when opponents claimed he should be more conservative because he was building up the score, “If they want us to score less, they should play better and stop us.” As a hard-working entrepreneur, don’t let the whiners who claim you’re doing “too well” stop you for even a second.
Monday Morning Perspective: The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function. — F. Scott Fitzgerald (The Crack Up)
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