Want to build a billion-dollar company?
@AsishMohapatra1, CEO of OfBusiness and Oxyzo Financial Services, says it starts with thinking about the unthinkable and assembling a team of skilled individuals.

Here's an excerpt from the podcast with @rajshamani.

A 🧵 for entrepreneurs

He had a diverse career path, ranging from consulting with McKinsey to becoming a venture capitalist and eventually starting his own company. But what was his thought process behind achieving so much success?

According to @AsishMohapatra1, it all starts with thinking about the unthinkable. In the context of startups, this means setting the goal of profitability (crossing $100 million in PAT), which has only been achieved by two Indian startups – @Zoho and @zerodhaonline – to date.

However, he believes that this goal cannot be achieved alone and requires the whole team to believe in and work towards it.

Another key factor for him has been identifying areas with many problems with a few, multi-layered solutions.

He believes that one of the biggest competitive advantages, or "moats," is complexity and that by tackling these complex problems, a company can set itself apart.

But what motivated Mohapatra to strive for wealth and success?

As a young boy, he saw a classmate with nice things and asked his mother why he couldn't have them as well.

The reply was "who bade log hai" i.e. they are rich, making him curious about the meaning of being rich.

He spent several years researching and eventually came up with his own definition of being rich, which included:
- having money,
- art (personality),
- is like a magnet,
- having something interesting to share.

He also has a set of principles that he stands by in both his personal and professional life.

These include creating wealth not just for himself but also for those associated with the business, fostering a fun workplace environment, thinking big and dreaming the unthinkable, going all in and not having a Plan B, and adopting a "dhanda" approach i.e should make money.

So, how does @AsishMohapatra1 suggest building a billion-dollar company?

He recommends focusing on profitability first, assembling a team of at least 10 highly skilled individuals, setting culture early, focusing on tasks that can be accomplished with certainty in the first 2-3 years, and aiming for the US market.

He also advises considering both organic and inorganic growth strategies, such as acquisitions or entering into partnerships, and continuously learning and evolving.

One unique aspect of his business philosophy is his decision to not have a cabin for himself or any designated parking spaces or business class travel for himself and his employees.

Instead, he values equality and encourages everyone in the company to travel in economy class and share hotel rooms on business trips.

He derived inspiration from the fundamental rights of the US as a nation. This aligns with his belief in the fundamental rights of liberty, equality, and fraternity, which he believes have played a significant role in the growth of the United States.

He recently invested in @dezervHQ, a platform that is bringing wealth management to the middle class. He sees this as an opportunity to not only create wealth for himself and his business but also to positively impact the lives of others.

Overall, Asish Mohapatra's diverse background and unique business philosophy have allowed him to achieve a great deal of success in his career.

By thinking about the unthinkable, assembling a strong team, and focusing on long-lasting solutions to complex problems, he has been able to build two successful companies and make a positive impact on the lives of others.

That's a wrap.

If you like this 🧵 like and RT the first tweet and follow @weekly_concepts for more.

Thanks, @rajshamani for this awesome podcast.

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Want to build a billion-dollar company? Asish Mohapatra, CEO of OfBusiness and Oxyzo Financial Services, says it starts with thinking about the unthinkable and assembling a team of skilled individuals.

What is Blue Ocean Strategy about?

Understand how @Tesla used it to its advantage.

In business, the blue ocean strategy refers to the creation of new market space that is uncontested, making the competition irrelevant. This is done by creating and offering products or services that are unique and differentiated from anything else on the market.

The goal is to create new demand in a market that doesn't exist yet, rather than trying to compete in an existing market where there is already intense competition. The theory behind blue ocean strategy was first proposed in a 2004 book by W.

Chan Kim and Renée Mauborgne, professors at INSEAD business school. Since then, the concept has been applied to a wide range of businesses and industries around the world.

One of the most famous examples of blue ocean strategy is Cirque du Soleil, the world-renowned circus company. When Cirque du Soleil was founded in 1984, the circus industry was in decline.

Traditional circuses were struggling to compete against newer forms of entertainment, such as theme parks and video games. Cirque du Soleil reinvented the circus by creating a new type of circus that was more like a theatrical performance than a traditional circus act.

Cirque du Soleil's shows are known for their high-quality acrobatics, costumes, and music. The company has been so successful that it now has over 2,000 employees and generates over $800 million in revenue each year.

While blue ocean strategy can be applied to any business or industry, it is particularly well-suited for businesses that operate in mature industries with intense competition.

Blue ocean strategy can help businesses to break out of the "red ocean" of bloody competition and create their own "blue ocean" of uncontested market space.

@Tesla is an example of a company that has successfully used the blue ocean strategy. It has created a new market for electric cars, which has allowed the company to capture a large share of the market.

The traditional "red ocean" marketplace of vehicles is segmented into many different groups according to different customer demands. In order to satisfy the target group, the vehicle companies need to adjust the attributions of vehicles from size, appearance, etc.

The "green" car and sports car seem to always focused on two different customer groups in the past. The major feature of green cars was low energy cost, which conflicted with the characteristic of premium sport vehicle.

Tesla was the first company to combine these two attributes in one single vehicle model- the Tesla Roadster, which was the first vehicle of the company. It is a fast vehicle with plenty of torque with zero emissions.

Tesla created "green performance vehicle" marketplace, which was completely new market which hadn't existed before. Tesla created this "blue ocean" to itself, where it has large space to develop.

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What is Blue Ocean Strategy about?

Why is it that luxury watch ads and displays always feature a time set to 10:10?

When you think of a luxury watch, the first thing that comes to mind is probably the price tag. But have you ever wondered why most luxury watch ads and displays always feature a time set to 10:10?

Until 2016, there was no definitive answer to this question, but there were a few theories.

📖 Theory 1:
The time 10:10 is often used in luxury watch ads and displays because it is considered to be aesthetically pleasing. The two symmetrical digits create a balanced and harmonious look, which is appealing to the eye.

The time 10:10 is often used in luxury watch ads and displays because it is considered to be aesthetically pleasing. The two symmetrical digits create a balanced and harmonious look, which is appealing to the eye.

Additionally, the use of the time 10:10 reinforces the notion that luxury watches are accurate and precise instruments.

📖 Theory 2:

10:10 is the time that Rolex founder Hans Wilsdorf looked at his watch when he created the company logo.

📖 Theory 3:
Setting the time to 10:10 on a watch face can make the brand name or logo more visible, as it is often placed at the 12 o'clock position. Additionally, this particular time setting is also associated with success and power.

Therefore, by featuring a time of 10:10, luxury watch brands are able to convey a sense of sophistication and prestige.
However, Karim et al (2017) performed an experimental study investigating the psychological effects of the default time setting on clocks and watches in ads.

The study showed that this time setting positively affects the emotional response of observers and their evaluation of a seen watch.

In conclusion, the strategic placement of a luxury watch at 10:10 is a deliberate marketing tactic to create an association of success and power. By subconsciously aligning time with positive attributes, luxury watch brands increase the perceived value of their products.

The next time you see a luxury watch ad or display, take a closer look at the time – it just might be 10:10.

Source: doi: 10.3389/fpsyg.2017.01410

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Why is it that luxury watch ads and displays always feature a time set to 10:10?

What is a Born Global firm?

A 🧵 on internationalization
#business #growth

Born global firms have a different internationalization process than traditional multinationals. They're more likely to start internationalizing from the get-go, have a more global orientation, and use more internationalized marketing and organizational structures.

They are born with the inherent need and drive to be successful in multiple countries from the outset. This necessitates a different approach and a different set of capabilities than companies that expand internationally over time.

There are three key drivers of born global internationalization:
1️⃣ Technological advance that has made it possible for companies to operate globally from day one;
2️⃣ The growth of global markets, has created opportunities for companies to sell their products globally.

3️⃣ The rise of the Internet, has allowed companies to reach customers and suppliers anywhere in the world at a low cost.

The technological advances that have driven the born global phenomenon include the development of communication technologies such as email, instant messaging, and video conferencing, as well as transportation technologies that have made it possible for companies to ship goods.

At the same time, there has been a dramatic increase in the number of people who are connected to the Internet, creating a global market for products and services.

This has made it possible for companies to establish operations in multiple countries without having to open physical offices or hire employees in those countries.

In many cases, a company’s first employees are located in its home country but its customer base and suppliers are located all over the world. The growth of online social networks has added another layer of complexity to the born global phenomenon.

Online social networks allow companies to connect with potential customers and suppliers more quickly and easily than ever before. They also allow companies to get feedback from customers and suppliers about new products and services before they launch them into the market.

This feedback can be extremely valuable in helping companies to develop products and services that meet the needs of their target markets. The growth of born global businesses is challenging traditional notions about how businesses should operate internationally.

Instead of expanding gradually into new countries, these businesses are entering new markets head on, often through online channels.

This requires a different set of skills and capabilities than traditional businesses, including an understanding of how to conduct business in multiple countries simultaneously and a strong focus on customer service.

The challenge for traditional businesses is to understand how these new players are succeeding in foreign markets and adapt their own strategies accordingly.

As more businesses move online, it is becoming increasingly important for businesses to have a presence in multiple countries if they hope to succeed globally.

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What is a Born Global firm?

Understand what is Ambient Psychology and why it is important for your business.

A 🧵

#psychology #marketing #business

Ambient Psychology is an approach to the study of psychology that considers the environment to be a significant factor in shaping psychological processes and behavior.

Ambient psychology acknowledges that people are not isolated from their surroundings, but are constantly interacting with and influenced by their environment. There are many different ways to study psychology, and no one perspective is universally accepted.

This approach has been applied in a wide range of settings, including studies of the effects of noise on cognitive performance, the impact of urban environments on mental health, and the role of physical space in shaping social interactions.

One of the key insights of ambient psychology is that people are not passive recipients of their environment, but rather they actively interact with their surroundings and adapt to them.

For example, a person who works in a noisy environment may develop strategies to block out the noise or focus on tasks that do not require much auditory input. Similarly, someone who lives in a busy city may learn to tune out the distractions and focus on priorities.

Ambient psychology has also been used to investigate how people use space to shape their social interactions. For example, research shows that people tend to sit closer to others when they are in close proximity, and they tend to stand farther apart when they are in open spaces.

This research has implications for understanding how space can be used to facilitate or inhibit social interaction. The field of ambient psychology is still relatively new, and there is much more research that needs to be done in order to fully understand its implications.

However, this approach provides a valuable new perspective on the study of human behavior and offers insights into how people interact with their environment.

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Understand what is Ambient Psychology and why it is important for your business.

Did you know, there's a term for what's preventing you from taking the plunge on that new job, a new car, or a new relationship: Fear of Better Options, or FOBO?

🧵

#decisionmaking #FOBO

It's the belief that if you don't take a certain opportunity, something even better will come along. And it's preventing you from making the decisions you need to in order to move forward with your life.

Fear of regret drives FOBO. We hold back from taking action, trying to find the perfect relationship, or the perfect job, instead of making a decisive choice and living with the unavoidable factors that go with it.

The problem is, of course, that perfect is rarely attainable. And the longer we wait for it, the more we miss out on opportunities to create our own happiness.

This fear stops us from making a decision at all, paralyzed by the idea that whatever choice we make may not be the best possible option. As a result, we stay stuck in indecision and stagnation.

The truth is, however, that no decision is ever final. You can always change your mind if you decide you don't like your job or if you want to move somewhere else. The only thing you're risking by making a decision is potentially missing out on some better options down the road.

So how do you overcome FOBO?

The first step is to recognize that it's holding you back. Once you're aware of the impact it's having on your life, you can start to make a plan to overcome it.

One way to do this is to set a deadline for yourself. If you're considering a new job, for example, give yourself a date by which you'll make a decision. This will help to focus your attention and prevent you from endlessly weighing your options.

It's also important to keep in mind that no situation is permanent. If you happen to take a new job and it doesn't work out, you can always quit and try something else. The same goes for relationships. If you've ever been dejected by something, you can always leave.

The most important thing is to take action. Don't let FOBO prevent you from living your life. Make the decisions you need to, and don't look back with regret.

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Fear of Better Options (FOBO) is the reason you aren't able to take a decision

Dark Tourism – What is it and Why is it Popular?

Dark tourism is a relatively new term used to describe the phenomenon of people being drawn to sites of tragedy, disaster, or death.
#tourism #darktourism #trip

💡 What is the difference between dark tourism and normal tourism?

Dark tourism is a type of tourism that is focused on sites of tragedy, disaster, or death. Normal tourism is tourism that is focused on places that are generally happy and pleasant.


💡 What are some reasons people might be attracted to dark tourism destinations?

Some may simply be curious about what happens at such places, while others may enjoy the feeling of being at a place where bad things have happened.

Some people might find morbid fascination in dark tourism destinations such as the September 11th Memorial in New York City and the Auschwitz-Birkenau concentration camp in Poland. These sites can be seen as a way to confront their own fears and mortality.

Whatever the reason, it is important to remember that there is a line between respectful curiosity and exploitation, and it is important to be mindful of how your presence at a dark tourism site may affect those who live or work there.

💡 Is dark tourism good for you?

Some people might find visiting sites associated with death and tragedy to be therapeutic, while others might find it morbid and depressing. There is no right or wrong answer, however, here are a few benefits and drawbacks.

Benefits of Dark Tourism:

👉It can help people confront their fears and learn more about the darker side of human nature.
👉It can also help people appreciate life more by seeing how quickly it can be taken away.

👉Dark tourism can also be educational, providing insights into history and culture that might not be learned through traditional means.


Drawbacks of Dark Tourism

👉It can be disturbing and depressing, and it can desensitize people to the tragedy and suffering of others.
👉It can also lead to a feeling of nihilism or hopelessness.

To sum it up

If you are interested in history, culture, and learning about different places, then dark tourism may be for you. It is important to research your destination and be respectful when visiting sites associated with death, violence, or tragedy.

Dark Tourism – What is it and Why is it Popular?

Co-opetition is a competition in which two or more competitors work together to achieve a common goal. This type of competition is often seen in the business world, as companies work together to achieve market share or other goals.
#business #college #university

While co-opetition can be beneficial, it can also lead to conflict and tension between the competing parties. There are several advantages to co-opetition.
First, it can lead to increased innovation as companies work together to create new products or services.

Second, co-opetition can help to build relationships and trust between competitors. This can lead to increased cooperation in the future and can make it easier to resolve disputes.

Finally, co-opetition can help to create a more competitive marketplace, which can benefit consumers.

There are also some drawbacks to co-opetition.
First, it can be difficult to maintain healthy competition when companies are working together.

Second, co-opetition can lead to a loss of focus on the company's core goals.
Finally, co-opetition can create an environment of mistrust and suspicion between the competing parties.

Overall, co-opetition can be a beneficial way for companies to compete. However, it is important to carefully consider the pros and cons before entering into this type of agreement.

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What is Co-opetition?

5 tips on how to stop overthinking everything

A 🧵 
#thinking #anxiety 

Tip #1: Don’t strive for perfection

There is not always one right answer, and you can't predict everything.

To avoid this, identify your top priorities and the information you have. Then, determine the most important next step, and take action.

Tip #2: Put the problem in perspective

Don't spend too much time on small decisions, because they aren't important.

Decide how important the decision is, and spend the right amount of time thinking about it.

Tip #3: Trust your gut

Intuition is faster than analysis. Research has shown that if you use intuition and analysis, you'll make faster, more accurate decisions and be more confident in them.

Tip #4: Eliminate unnecessary decisions

Every decision you make takes away some of your energy.

You should conserve your energy by creating routines, habits, and delegating tasks.

Tip #5: Set decision-making time constraints

You should take some time to think about your decision, and set a time limit for when you will make it.

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5 tips on how to stop overthinking everything

If you're like me, you probably spend most of your time trying to avoid writing. It's not that I don't like writing, it's just that writing is hard.

Luckily for us, there's a new technology that can help make the process a lot easier. 

🧵 Write Better, Faster With GPT-3

GPT-3 is a machine learning platform that can generate copy for you automatically. It's still in beta, but the results so far have been pretty impressive.

GPT-3 can be understood by understanding a few keywords. 
1️⃣ Artificial Intelligence (AI)
2️⃣ Machine learning (ML)
3️⃣ Deep Learning (DL)
4️⃣ Language Model (LM)
5️⃣ Autoregressive (AR) Model
6️⃣ Natural Language Processing (NLP)
7️⃣ OpenAI

These terms will help you understand GPT-3.

1️⃣ Artificial Intelligence (AI)

AI is when machines do things that are normally done by people like learning and problem-solving.

2️⃣ Deep Learning (DL)

Deep learning is a type of machine learning where you teach a computer to learn by itself. This type of learning can be supervised, semi-supervised, or unsupervised.

3️⃣ Machine learning (ML)

Machine learning is a field of artificial intelligence that focuses on understanding and creating methods that "learn". This means that the methods get better at doing certain tasks as they get more data.

4️⃣ Language Model (LM)

A language model is a mathematical way of predicting how words will be said next, based on the probability of different word combinations.

Language models are probability distributions over a sequence of words.

They are used for many different tasks, like Part of Speech (PoS) Tagging, Machine Translation, Text Classification, Speech Recognition, Information Retrieval, and News Article Generation.

5️⃣ Autoregressive (AR) Model

An AR model is a way to describe a random process. This is used to help understand time-varying processes in things like nature and economics.

6️⃣ Natural Language Processing (NLP)

NLP is a way to help computers understand human language. It is a subfield of linguistics, computer science, artificial intelligence, and information engineering.

7️⃣ @OpenAI 

OpenAI is a research lab that studies artificial intelligence. It was founded in 2015 and is funded by donations from people like @elonmusk and @Microsoft.

What is GPT-3 after all?

It stands for Generative Pre-trained Transformer 3 (GPT-3).

GPT-3 is a computer program that can create text that looks like it was written by a human. It's gaining popularity because it can also create code, stories, and poems.

GPT-3 has gained a lot of attraction in the area of natural language processing (sub-branch of data science).

Breakdown of Generative || Pre-trained || Transformer

Generative models are a type of statistical model which are used to create new data by understanding the relationships between different variables. 

Pre-trained models are models that have already been trained on a large dataset. This allows them to be used for tasks where it would be difficult to train a model from scratch. A pre-trained model may not be 100% accurate, but it can save you time and improve performance.

The transformer model is a deep learning model that is used for tasks such as machine translation and text classification. It is designed to handle sequential data, such as text.

@openai a research lab in San Francisco, created a deep learning model that is 175 billion parameters (permutations and combinations) and can produce human-like text.

It was trained on large text datasets with hundreds of billions of words.

The language models prior to GPT-3 were designed to perform a specific NLP task, such as generating text, summarizing, or classifying. First, of its kind, GPT-3 is a generalized language model that can perform equally well on a wide range of NLP tasks.

How does GPT-3 work?

There are two kinds of machine learning: supervised and unsupervised.

Supervised learning is when you have a lot of data that is carefully labeled so the machine can learn how to produce outputs for particular inputs.

Unsupervised learning is when the machine is exposed to a lot of data but doesn't have any labels.

GPT-3 is an unsupervised learner and it learned how to write by analyzing a lot of unlabeled data, like Reddit posts, Wikipedia articles, and news articles.

If you are interested to try AI for writing, I recommend @heyjasperai and if you found this 🧵 useful, plz follow @weekly_concepts and RT the first tweet.

 

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