Linchpin: Are You Indispensable?
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Read between July 21, 2017 - January 2, 2018
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The first chapter of Adam Smith’s Wealth of Nations makes it clear that the way for businesses to win is to break the production of goods into tiny tasks, tasks that can be undertaken by low-paid people following simple instructions.
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The Model Will Be Operated by People with the Lowest Possible Level of Skill Yes, I said lowest possible level of skill. Because if your model depends on highly skilled people, it’s going to be impossible to replicate. Such people are at a premium in the marketplace. They’re also expensive, thus raising the price you will have to charge for your product. The business model should be such that the employees needed possess the lowest possible level of skill necessary to fulfill the functions for which each is intended. A legal firm ought to have lawyers and a medical firm should hire doctors. ...more
Matt
Truly shocking. Makes me wonder if this is why I'm undervalued by some percentage of the older population.