💫 Some insights and experiences in business and management to share.

1. Invest significant effort in profitable businesses, and don’t overthink unprofitable ones.

2. The benchmarks for learning should be from someone who is one stage ahead, not too far ahead. If your performance is 10 million, learn methods for 20 million, not 100 million.

3. The cost of trial and error must be low and quick. If something doesn’t work, cut it off immediately; don’t drag it out and pull yourself into it.

4. Whether it’s the boss or long-term employees, all suggestions and ideas are not absolutely correct, but data analysis is definitely correct. Therefore, in business, study the data to find logic, and don’t blindly trust any one person’s strategy.

5. Whether online or offline, the essence of business is the same: to sell your product and recover the money. Any platform and approach are just tools; tools may change, but the essence of business does not.

6. Old customers are more important than new ones. The cost of having someone who trusts you purchase your product is much lower than developing new customers, so the quality of service must keep up.

7. The essence of business is to buy low and sell high. By selling at a relatively low cost and exchanging for a suitable price to customers, and completing delivery, you can create a lasting business.

8. The core of business is resources. Whoever has the resources and can organize them will have a business.

9. Don’t always think about innovation. The best business is when customers want specific products, and you have those products, rather than you trying to persuade customers to buy what you have. Educating customers is inherently counterintuitive; there’s only one Steve Jobs in the world.

10. Only do things that are highly likely to succeed; you can give up on low probability success ventures. Don’t gamble on being the chosen one.