E16: Building A Personal Flywheel
Gravitas WINS Radio
English - June 29, 2021 00:30 - 4 minutes - 3.77 MBCareers Business Management management career frameworks leadership self-improvement technology storytelling psychology Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Jim Collins wrote much about usage of flywheel in business. The executives at Amazon embraced the concept and put it into practice. They used it to build a formidable business. Their flywheel goes like this:
They created an online market with large number of low-priced products. That low price attracted more customers. Amazon used the huge traffic numbers to attract many merchants to list more low-priced products.
What happens when you have an online marketplace with variety of products at cheap prices? You get more traffic.
This positive loop of low-priced products, traffic, and high volume transactions is Amazon's flywheel.
Here is a question for you. Can you build a flywheel for your personal and professional life? Of course you can.
Here is how I've built flywheel for my life.
- I develop insights, like the flywheel, by reading wide range of books.
- Then I share those insights freely with others on social media platforms which attract more people towards me
- More people come with variety of questions which means more insights
- When more people come towards me, there is more opportunity to coach them which is a means to more wealth
- As I gain wealth, I get exposed to more insights on what works and what doesn't work.
Now I've built a personal flywheel.
If you liked the episode, hit the subscribe and like buttons. And share with at least one friend.
Connect with me:
Twitter: https://twitter.com/jjudeWebsite: https://jjude.com/Newsletter: https://jjude.com/subscribeLinkedIn: https://www.linkedin.com/in/jjude/Email: [email protected] Coaching Program: https://gravitaswins.comThank you for listening. If you enjoy the podcast, would you please leave a short review on Apple podcast? It takes less than 60 seconds, and it really makes a difference in finding this podcast. And it boosts my spirits. 😀
I would like to hear what struck you the most in this episode. Either you can email me or share it on social media and tag me. Thank you for your support.
Have a life of WINS.