Curiosity@Intelsense
Weekly dose of learning
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In The Media
1.
Execution is more important than strategy
Over the past 30 years, I estimate that I’ve looked at an average of one business plan per day, or about 300 a year. Of the 300 likely plans, I may invest in only one or two a year; and even among those carefully chosen few, I’d say that a good half fail to perform up to expectations. The problem with those companies (and with the ventures I choose not to take part in) is rarely one of strategy. Good ideas and good products are a dime a dozen. Good execution and good management—in a word, good people—are rare.
To put it another way, strategy is easy, but tactics—the day-to-day and month-to-month decisions required to manage a business—are hard. That’s why I generally pay more attention to the people who prepare a business plan than to the proposal itself.
After all, a good idea, unless it’s executed, remains only a good idea. Good managers, on the other hand, can’t lose. If their strategy doesn’t work, they can develop another one. If a competitor comes along, they can turn to something else. Great people make great companies.
2.
One never knows when its time
A friend I was talking to had just gone to his 15 year reunion at IIM Calcutta. And he (and a few more alums) asked the profs why the OG 25 year reunion had been advanced to 15 year.
One reason was that at 15Y, people were at mid life crises so always good to get together. But, the other reason scared me to no end.
Increasingly, larger % of batches were expiring by the time 25Y passed. They were just no more. So they advanced it by a decade.
Covid or vaccines or lifestyle or something else, God alone knows.
Never know when it's your time. Eat well, exercise consistently, sleep well, be happy while you're on this planet.
One never knows when it's time.
Pic of the Week
Thought of the Week
"I have no views as to where it (gold) will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola will be making money, and I think Wells Fargo will be making a lot of money, and there will be a lot -- and it's a lot -- it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that." ~ Warren Buffett on buying gold
Video of the Week
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