Guest: Hamilton Helmer - Author of "7 Powers". Hamilton is a renowned strategist whose book is considered a seminal work on sustainable competitive advantage, influencing leaders like Peter Thiel and Reed Hastings. Key Takeaways: Power and Strategy: Power in business requires both a benefit and a barrier. It's crucial to understand if your business has a "castle" (benefit) and a "moat" (barrier). Timing for Strategy: Founders should always consider strategy, even pre-product-market fit, to understand potential sources of power. Common Misconceptions: Many startups mistakenly believe they have power through branding or data scale economies, which are often not true sources of power. Network Economies vs. Effects: Not all network effects translate into network economies, which require material impact on business margins. Operational Excellence: While crucial for business success, operational excellence is rarely a source of power as it can often be mimicked. Topics Covered: Power and strategy, timing for strategic thinking, common misconceptions about power, network economies vs. network effects, operational excellence, AI's impact on power, economic trends and challenges.
“Action is the first principle of business.”
“Creativity and action are the ways society and people advance.”
“Life is full of surprises. You'll end up in a place you didn't expect.”
