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Exponential Wisdom Episode 11 Podcast Notes

Peter Diamandis and Dan Sullivan discuss turning problems into business opportunities. 

  • The world’s biggest problems are the world’s biggest opportunities. 
  • Your eyes see and your brain hears what you are looking for. So shift your mindset to look for solutions to problems and you will see them everywhere. 
  • Peter Diamandis challenge – take three weeks to interview clients,  customers, employees, to ask what problem in our relationship would provide a meaningful improvement in that relationship. Have them list and prioritize the problems. You end up with a list of amazing opportunities. 
  • Don’t focus exclusive on major problems. Seek to solve the minor irritations. 
  • Breakthrough startups are born from solving these irritations. 
  • The biggest inspiration for new innovation are in workarounds to the government’s irritating limitations. 
  • By fixing your own  problems, you lead by example and empower people to fix their own problems. 
  • Netflix destroyed blockbuster by removing the irritation of late charges. 
  • Steve Jobs and Henry Ford used the fact that people didn’t know they had a problem until a solution was presented to them.
  • The things that you do to irritate your customers are seeding your future competition. 
  • Larry Paige – being customer centric is an obvious, but often ignored approach to company success. 
  • Once you have a revenue engine that is going well, where can you apply your unfair advantage to disrupt other industries? (like Steve Jobs did to phones and music, Google to automotive)
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