Spice

Alon Michael

He who controls the spice, controls the universe. I believe our world's spice is knowledge, and that we're the compounded outcome of our decisions, based on the knowledge we have (or lack). Join me, to break down key lessons from history’s greatest achievers, helping you to accumulate compounding knowledge, and improve exponentially your decisions in business and life.

Categories: Business

Listen to the last episode:

In this episode, we understand Aliko Dangote's key lesson - the richest man in Africa tells us - know everything you can about your business, the ins and outs, or you are going to fail.

To do that, we understand how to build a strategy that will help us to cover the five pillars of business:

You must deeply understand you customer. Every business must start with the customer and work backwards from there.
You need to rationally understand the value you create. For the only foundation of real business is service.
You must understand and control the costs. Business could be summed up as acquiring resources fairly and, with the smallest possible addition of cost, transforming those resources into valuable consumable products. Control your costs!
Relentless pursuit of innovation. Innovation is all about Embracing technological advancements, Constantly experiment, and Looking always for new ways to satisfy your customers

- When it comes to innovation, please remember this rule - utility over novelty.

Lastly, the essence of the key lesson today - risk. Risk comes from not knowing what you’re doing. To invert that, simple - know what you are doing, or don’t do it.

Previous episodes

26 - #26 The most dangerous thing for an entrepreneur is to go into a business that he does not fully understand (Aliko Dangote)
Sat, 12 Oct 2024

25 - #25 You are crazy until you are successful, then, you're a genius. (Mr. Beast)
Thu, 03 Oct 2024

24 - #24 As soon as a convention is established, the most interesting work would likely be the one that doesn’t follow it (Rick Rubin)
Wed, 25 Sep 2024