Albert-László Barabási is the Robert Gray Dodge Professor of Network Science at Northeastern University, where he directs the Center for Complex Network Research, and holds appointments in the Department of Medicine at Harvard Medical School and the Central European University in Budapest.  He is the author of four books with his latest one entitled: The Formula: The Universal Laws of Success. 

 

Some interesting insights from this episode:

  • The definition of success is the rewards we earn from the communities we belong to. While your performance is about you, your success is about us.  It’s what we as a community acknowledge and value.
  • The first law of success is that performance often drives success but when performance can’t be measured, networks drive success.
  • The second law of success is that performance is bounded but success is unbounded. Marginal differences in performance may lead to order of magnitude differences in success (fame, fortune, recognition, etc.).
  • The third law of success if that prior success will increase the odds of future success. It is the law behind why the rich get richer and the powerful stay that way.
  • The fourth law of success is that while team success requires diversity and balance, a single individual will inevitably receive credit for the group’s achievements.
  • For performance oriented teams, diversity and empathy are the most critical success factors while for innovation oriented teams, leadership is most important.
  • The fifth law of success is that with persistence, success can come at any time. Your ability to succeed neither declines nor improves with age.

Seth is an entrepreneur, best-selling author, and speaker.  He has written 19 best-selling books, publishes one of the most popular marketing blogs, and speaks to audiences around the world. He also founded two companies, Squidoo and Yoyodyne which was acquired by Yahoo.  Seth has been inducted into both the Direct Marketing Hall of Fame and the Marketing Hall of Fame. His latest book is called This Is Marketing: You Can’t Be Seen Until You Learn to See.

 

Some interesting insights from this episode:

  • In the old days, money bought you attention and you could use that attention to grow your business. Today attention is too precious for you to buy at any cost.
  • Being an effective marketer in this day and age means having the empathy to see what the other person dreams of and what they fear.
  • Since 1997 not one significant brand has been built with consumer advertising.
  • There’s no longer any advantage to being a mass marketer. There’s only an advantage to being a very specific marketer.
  • If you build a network effect, if you understand people’s status roles, if you engage with people where they need to be, with a product or service that helps them get to where they want to go, that is marketing.
  • Marketing is about how human beings are going to interact with what you make and whether or not they will talk about it and miss you if you’re gone.
  • The mistake most marketers make is to sell average stuff for average people in an attempt to appease everyone. But what’s most important for brand building today is to find a “minimal viable market”. The idea is to pick the smallest possible group of people that can sustain you and delight them so they will then tell their friends and spread the word.
  • A brand is not a logo. Rather, a brand is a promise, an expectation of what you’re going to get.
  • People don’t generally know what they want. It’s our job to watch people, figure out what they dream of, and then create a transaction that can deliver that feeling.

 


Links

Book: THIS IS MARKETING: You Can’t Be Seen Until You Learn To See  This is Marketing

Seth Godin blog: Seth Godin blog

Seth Godin website: Seth Godin website

Some interesting insights from this episode:

Ben Saunders is one of the world’s leading polar explorers, and a record-breaking long-distance skier who has covered more than 4,300 miles on foot in the Polar Region. His accomplishments include skiing solo to both the North and South poles, and leading The Scott Expedition, the longest human-powered polar journey in history, a 105-day, 1,800 mile round-trip from the coast of Antarctica to the South Pole and back again.

  • Hear the remarkable story of how he traveled the equivalent of 69 marathons, the distance from Maine to Miami, in frigid temperatures in near whiteout conditions, over the course of 3.5 months. 
  • Preparation entailed both extreme endurance and extreme weight training.  He was able to run a 2:55 marathon and deadlift 485 lbs. 
  • The key to staying motivated was to shorten the focus from the ultimate goal to something that felt achievable whether the end of the day or even the end of an hour.
  • One of his proudest moments on the journey was to make the call to have food delivered during their return.  That moment calling for help was when he matured as a leader as he learned to get priorities straight.
  • In hindsight, he made the mistake of often living too much in the future, thinking that success was defined by a finish line.
  • The cliché holds true that the journey is way more important than the destination.
  • Learn how he evolved from needing external validation to having more of an internal compass driving his motivations. 
  • “Self-belief is a malleable human quality. The more time you spend outside your comfort zone, the stronger it becomes.”
  • “Excellence is having the internal drive to make tomorrow better than today.”

Mark Tercek is the CEO of The Nature Conservancy, the world’s largest environmental organization. He is a former Managing Director and Partner at Goldman Sachs and is the author of the bestselling book Nature’s Fortune: How Business and Society Thrive by Investing in Nature.

 

Some interesting insights from this episode:

  • We all have an inner environmentalist inside of us.
  • His executive coach taught him some valuable lessons early on including how to listen better and how to not sweat out the details.
  • In the nonprofit world, he had to learn how to understand employees’ psychic income and use that as motivation to drive behavior.
  • Saving nature isn’t just the morally right thing to do, it’s also the smartest investment we can make.
  • Learn how he pivoted his 4,000 employee organization from pure land conservation toward embracing climate change as a top priority.
  • “Excellence is matching ambition with a good dose of reality.”
  • We all have a tendency to overestimate risks in our lives. The returns are greater than perceived and the risks less that perceived.  More of us should just go for it.

Clint Harp and his wife Kelly own their own handmade furniture design business Harp Design in Waco Tx.  He was formerly a regularly recurring guest in the hit TV show Fixer Upper and currently stars in his own television series called Wood Work. His new book is called Handcrafted: A Woodworker’s Story

 

Some interesting insights from this episode:

 

  • Sometimes we may hang on to a dream for too long. His original dream was to be a musician but eventually realized that he didn’t have the talent and had to accept that his life’s plan lay elsewhere.
  • He quit a lucrative job in medical sales without any safety net to pursue his passion of building furniture.
  • Only by being 100% honest with his wife and admitting that he was struggling with his new furniture design business was he able to earn her trust and respect which allowed their marriage to grow stronger as a result.
  • Learn how a fortuitous encounter at a gas station would change the trajectory of his career and his life.
  • He had a few lucky breaks along the way but everyone does. It’s what do you do with those lucky breaks that’s so critical to success.
  • Learn how he became known as the dumpster-diving, reclaimed wood-loving carpenter.
  • “Looking at a pile of wood on my shop floor might be one of my favorite things to do. What might appear to be a mess is really a beautiful creation just waiting to be put together.”
  • “What I am is a journeyman. A dreamer. A kid who once sat at the base of a tree and imagined what was possible. A guy who now stands at the foot of the mountain trying to claw my way to the top, knowing there’s another peak right around the corner.”

Scott Hamilton is a retired figure skater and Olympic gold medalist. He won four consecutive U.S. championships from 1981–84, four consecutive World Championships from 1981–84 and a gold medal in the 1984 Olympics.  Since that time he has been a TV commentator, a motivational speaker, the founder of a skating academy, a cancer survivor and the founder of a cancer research center.  He is a New York Times bestselling author and his latest book is called Finish First: Winning Changes Everything.

 

Some interesting insights from this episode:

  • Finishing first doesn’t necessarily mean finishing first. Accomplishing whatever goal you set for yourself is a finish first moment.
  • “The only disability in life is a bad attitude.”
  • It was his mother’s passing that was the catalyst which woke him up and allowed him to take his skating to another level.
  • He gave away all his medals and trophies because he didn’t want to let them be an anchor to prevent him from moving forward.
  • All of the losing earlier in his career was actually great preparation for ultimately learning how to compete and win.
  • “Excellence is leveraging everything we have to live the best life we possibly can.”

Beth Comstock spent over 25 years at GE where she was a vice chair, CEO of Business Innovations and Chief Marketing Officer among other roles. She has been featured in the New York Times, Forbes, Fortune and Fast Company and has been named to the Fortune and Forbes lists of the world’s most powerful women.  Her new book is titled Imagine It Forward: Courage, Creativity, and the Power of Change.

 

Some interesting insights from this episode:

  • Risk taking is a skill that can be learned.
  • “Most of us fear losing what we have more than we desire winning something we don’t have.”
  • Due to her risk taking mentality, Jeff promoted her to Chief Marketing Officer, a role that hadn’t existed at GE for over two decades.
  • She had to overcome a lack of self-confidence along with her introversion in order to speak up, challenge others and be effective in her role.
  • Success correlates as closely with confidence as it does with competence.
  • Much of the success of Hulu was attributed to hiring an entrepreneur from the outside and keeping him independent vs hiring someone from the inside.
  • She led GE’s disruptive green initiative called Ecomagination which pushed an aggressive clean energy agenda throughout GE’s multiple business lines.
  • GE executives often struggled to see parallels from developments happening in other industries due to a common cognitive bias called Functional Fixedness.
  • She pioneered a new program at GE called Fastworks which leveraged the lean methodology to experiment with new product ideas, increase innovation and accelerate time to market.
  • “Excellence is a never ending journey of learning and trying to get better.”

 

Doug Bernstein is the co-founder and CEO of Melissa and Doug, a several hundred million dollar toy company focused mostly on simple classic toys for children up to 5 years of age.  He and his wife Melissa started the company together about 30 years ago.

 

Some interesting insights from this episode:

  • They never intended to build a company from the beginning but rather, were driven by their shared passion to do something good for children.
  • They are a product company at its core. If they simply focus on making great products, everything else will take care of itself.
  • Adversity can fuel motivation. When their supplier decided to compete directly with them, rather than sue or wallow in despair, they shifted their product development cycle and started to innovate with new products so quickly that nobody could keep up with them.
  • If you look at an obstacle as something that will take you out of the game, then it will. But if you look at it as something that you have to figure out how to get around, then you will find a way.
  • They’ve never been tempted to venture into apps and digital media despite external pressure because they feel it’s not good for children at that age and it’s against their corporate values.
  • They grew to several hundred million in revenue without one dollar of advertising. It was entirely word-of-mouth.
  • They don’t do any product testing but are still able to maintain a 75% hit rate with new product introductions.
  • “Excellence is always bringing your very best to what you do and always having the inner pride to do things the very best way.”