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CEO Picks - The most popular editorials that have stood the test of time!
How This Company Makes $70 Million Selling Random Stuff on Amazon So you never thought selling tens of thousands of everyday, low-margin products online would make a great business and a great story? Neither did the guys behind Pharmapacks. Until they did it.
It's stuff you find in drugstores, like lip-balms, shampoos, hairsprays. No need to carry a full range, no category leadership of any sorts required. They use marketplace platforms like Amazon and Overstock.com to sell their (strategically chosen) products, gaining visibility through pricing strategies that put them above other vendors on these platforms, along with a focus on maintaining high customer review ratings. |
Managers Are Not Always the Best Judge of Creative Ideas If you thought your manager was wrong to dismiss your 'out of the box' idea, turns out you might have been right. According to research by Justin Berg of Stanford, the best judges of creative ideas are neither managers nor the idea creators themselves, but peers of the creator who have spent time creating their own ideas, but not the idea in question. Instead of allowing only managers to evaluate and select ideas, companies should ask other creators to weigh in on the idea, maybe by letting them vote on their peers' ideas. Also, managers with creator duties would be best suited when it comes to creative forecasting and staying open-minded to new ideas. |
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They are boring. They are useless. Everyone hates them, so why can't we stop having meetings? You can make a whole career of planning, holding and attending meetings and never dare contemplate the possibility of your being exempt. They can't be avoided, but maybe they can be made bearable. Perhaps Paul Graham's prescription for the only kind of "allowable meeting" is a starting point. "There are no more than four or five participants, and they know and trust one another. They go rapidly through a list of open questions while doing something else, like eating lunch. There are no presentations. No one is trying to impress anyone. They are all eager to leave and get back to work." |
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Nobel Laureate Economist Says American Inequality Didn't Just Happen. It Was Created. Joseph Stiglitz, economist and professor at Columbia University, suggests that American inequality didn't just happen. It was created (and is getting worse). In this excerpt from his book, he says that those at the top have learned how to suck out money from the rest in ways that the rest are hardly aware of - that is their true innovation. Many of the individuals at the top of the wealth distribution are, in one way or another, geniuses at business (rather than science or technology, which are what truly drive human progress). Even many of the modern internet "geniuses" built their business empires on the shoulders of giants, such as Tim Berners- Lee, the inventor of the World Wide Web, who has never appeared on the Forbes list. Berners-Lee could have become a billionaire but chose not to - he made his idea available freely, which greatly speeded up the development of the Internet.
A closer look at the successes of those at the top of the wealth distribution shows that more than a small part of their genius resides in devising better ways of exploiting market power and other market imperfections - and, in many cases, finding better ways of ensuring that politics works for them rather than for society more generally. |
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Nothing lasts forever, except Pokemon, which just completed 25 years of existence Japan's most successful export has sold over 368 million video games and made over $60 billion in revenues, since it launched in 1996. It has remained popular since surging to the forefront of pop culture in the late 1990s, and then again in 2016, when Niantic's Pokemon Go had millions roaming their neighbourhoods catching critters on smartphones. Such is Pokemon's multiplatform success that even its proprietors are unable to pin a word onto it. On its official website, Pokemon is not limited to an animation, a video game. Nor is it a merchandise conveyor belt. Instead, the Pokemon Company describes the franchise simply as "one of the most popular children's entertainment properties in the world" |
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Amazon Edges Closer to Fully Automated Retail Amazon has built its empire on incremental shifts in retail convenience - starting with e-commerce itself. Enter Ether-commerce, where products order themselves, and you are never out of stock.
Amazon originally started experimenting with the Dash Smart Shelf in partnership with several small and medium-sized businesses, and for a while it seemed the gadget would remain exclusive to Amazon Business shoppers. As it turns out, the whole thing apparently went well enough that the Smart Shelf is now available to anyone who wants one.
In case you missed it the first time, this thing isn't a "shelf" so much as a Wi-Fi-enabled scale you store several of the same item on top of. Once the weight it detects dips below a certain threshold, it can automatically re-order more of those products, or alert you when you're running low so you get the final say. |
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