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Patience Exemplified
First, the investment committee was very carefully chosen, to be people who, number one, play well with others. Key characteristic – they listened well. Not for their opening, but for an understanding of the person’s real point. That’s so valuable.
The second thing is the depth of homework you’re required to do — I found out when I was on that committee I had to set aside an entire day, and I don’t mean a nine-to-five day, I mean from eight in the morning until eight at night or nine at night studying the documents so that I would be adequately prepared so I wouldn’t embarrass myself when I went in the meeting.
Ellis also touched on the importance of education and transparency in the process:
Once a year there’s a bring every possible question, complaint, doubt, skepticism, wonderment, whatever you’ve got in the way of any question, bring it to us a month or more before the meeting because we want to completely examine everything to our satisfaction and to yours, on every question that’s raised. Because once a year we have a soup-to-nuts, tear it all apart, look at every single assumption, does it all really, really make sense exactly the way it is or should we make some minor or mid-sized or even large changes. 
strategy  investing 
21 hours ago by ramitsethi
Letters of Note: Some Thoughts on Our Business
20 years ago, in January of 1991, a very critical 28-page internal memo — written by the then-head of Disney's film studios, Jeffrey Katzenberg, and distributed to his fellow executives in an effort to refocus their approach — was leaked to the press, and instantly became talk of the industry. The recent release of the big-budget Dick Tracy movie had been a disappointment and, as a result, Katzenberg was desperate to recapture the magic of old and rid his studio of their extremely costly "blockbuster mentality." This fascinating, highly quotable memo was his mission statement. Its subsequent circulation in Hollywood caused a huge stir.
strategy 
22 hours ago by ramitsethi
The Strategy Compiler: How To Avoid the “Great” Strategy You Couldn’t Execute - by @kellblog
"If you view strategy as the plan to win, then successful strategies include only those strategies that your organization can realistically execute from both a resources and skills perspective. Instead of doing a single-pass process that moves from strategic objectives to budgets, use an iterative approach with a strategy compiler to ensure your strategic code compiles before you try to execute it."
entrepreneurship  fpa  silicon  valley  startups  strategy  venture  capital 
yesterday by jonerp
Jeff Bezos' lessons from Washington Post for news industry
Focus on readers first, not advertisers. In response to a question about similarities between running Amazon and the Post, Bezos said: "We run Amazon and The Washington Post in a very similar way in terms of the basic approach. We attempt to be customer-centric, which in the case of the Post means reader-centric.

You can't shrink your way to relevance. When he took over, Bezos said, the Post already had an "outstanding" tech team and newsroom, and a top-notch editorial leader in Marty Baron. But the newsroom kept eliminating people, which wasn't working.
strategy  marketing  jeff-bezos 
2 days ago by ramitsethi
The Customer-Centered Innovation Map
We all know that people “hire” products to get jobs done. Office workers hire word-processing software to create documents. Surgeons hire scalpels to dissect soft tissue. But few companies keep this in mind while searching for ideas for breakthrough offerings.
business  strategy 
3 days ago by datenheini

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