Seth Godin’s 15 elements of success for the modern business (via @acumenfund)

As always, Seth Godin has something smart to say:

  1. Build in virality. Consider: Groupon.
  2. Don't sell a product that can be purchased cheaper at Amazon.
  3. Subscriptions beat one-off sales.
  4. Try to create an environment where your customers are happier when there are other customers doing business with you (see #1).
  5. Treat different customers differently.
  6. Generate joy, don't just satisfy a need for a commodity.
  7. Rely on unique individuals, not an easily copyable system.
  8. Plan on remarkable experiences, not remarkable ads.
  9. Don't build a fortress of secrets, bet on open.
  10. Unless there's a differentiating business reason, use off the shelf software and cheap cloud storage.
  11. The asset of the future is the embrace of a tribe, not a cheaper widget.
  12. Match expenses to cash flow–don't run out of money, because it's no longer 1999.
  13. Create scarcity but act with abundance. Free samples create demand for the valuable (but not unlimited) tier you offer.
  14. Tell a story, erect a mythology, walk the walk.
  15. Plan on obsolescence (of your products, not your customers).
Read the full article at:

http://sethgodin.typepad.com/seths_blog/2010/08/foundation-elements-for-modern-businesses.html

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