July 17, 2024
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Oprah Winfrey, Negotiation Matrix & Metrics That Matter
At a glance
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This edition is brought to you by Gamma
Good morning to all new and old readers! Here is your Wednesday edition of Faster Than Normal, exploring one short story about a person, a company, a high-performance tool, a trend I’m watching closely, and curated media to help you build businesses, wealth, and the most important asset of all: yourself.
If you enjoy this, feel free to forward it along to a friend or colleague who might too. First time reading? Sign up here.
Today’s edition:
> Stories: Oprah Winfrey & Spanx
> High-performance: Lewicki and Hiam’s Negotiation Matrix
> Trend: We will have new food & fertilizers
> Tactical: Metrics that matter
> 1 Question: Personal vs Global
Cheers,
Alex
P.S. Send me feedback on how we can improve. I respond to every email.
Stories of Excellence
Person: Oprah Winfrey
Oprah Winfrey, the influential media executive, actress, and philanthropist, has inspired millions worldwide with her authentic storytelling and unwavering commitment to personal growth. Born in 1954 in rural Mississippi, Winfrey overcame a challenging childhood to become the first African American woman to host a nationally syndicated talk show. "The biggest adventure you can ever take is to live the life of your dreams," Winfrey affirms, embodying the transformative power of self-belief and determination. Through her multi-award-winning "The Oprah Winfrey Show," she created a platform for empathy, self-discovery, and social change. Winfrey's philanthropic efforts, including the establishment of the Oprah Winfrey Leadership Academy for Girls in South Africa, demonstrate her dedication to empowering future generations. "The greatest discovery of all time is that a person can change his future by merely changing his attitude," she asserts, inspiring others to embrace their potential and make a difference in the world.
Key Lessons from Oprah Winfrey:
On authenticity: "I had no idea that being your authentic self could make me as rich as I've become. If I had, I'd have done it a lot earlier."
On purpose: "The biggest adventure you can ever take is to live the life of your dreams."
On resilience: "Where there is no struggle, there is no strength."
On gratitude: "Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough."
On legacy: "The key to realizing a dream is to focus not on success but on significance - and then even the small steps and little victories along your path will take on greater meaning."
Company: Spanx
In 1998, 27-year-old Sara Blakely was frustrated with her pantyhose. She cut off the feet to wear under white pants, sparking the idea for Spanx. With just $5,000 in savings, Blakely developed her first prototype. Despite having no fashion or retail experience, she persevered through initial rejections. In 2000, Oprah named Spanx her favorite product, catapulting the brand to success. Blakely became the world's youngest self-made billionaire in 2012, owning 100% of the company she built from scratch.
Key Lessons from Spanx:
On branding: Blakely chose a memorable brand name - Spanx - that was "edgy, fun, and made people laugh"
On self-belief: "Don't be intimidated by what you don't know. That can be your greatest strength and ensure that you do things differently from everyone else"
On how the product was built: Blakely spent a year researching hosiery patents and trademark law before finding a manufacturer willing to produce Spanx
Presentations for the 21st century
After 2 years and ~10,000 hours making PowerPoint presentations as an Investment Banking Analyst, it’s safe to say I was happy to part ways with this old foe.
So, there’s no one more surprised than me to say that my love for presentations has finally been reignited—but it’s taken some magic.
Meet Gamma. Gamma is everything an Investment Banking Analyst or fellow PowerPoint lover could dream of. Fast, polished, flexible, and frighteningly easy to use. Basically, it does your work for you in a fraction of the time and 5-10x the quality…not bad.
After meeting Gamma’s CEO, Grant Lee, and experiencing the magic firsthand, I couldn’t help but wonder what it would have been like to have this powerful tool at 2 a.m. on a Monday morning. Or if that 2 a.m. would have ever existed. My bet is the latter.
You can check it out here.
Accelerants
High-performance tool
⎯
Lewicki and Hiam’s Negotiation Matrix
The Lewicki and Hiam's Negotiation Matrix is a framework developed by Roy J. Lewicki and David M. Hiam to help individuals identify the most appropriate negotiation strategy based on the importance of the relationship and the desired outcome. As Lewicki and Hiam state, "The matrix suggests that the negotiator's strategy should be tailored to the particular situation and the motivations of the parties involved."
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The matrix proposes five negotiation styles: competing, collaborating, compromising, avoiding, and accommodating. The choice of style depends on two factors: the importance of the relationship with the other party and the importance of the desired outcome. For example, if both the relationship and the outcome are highly important, a collaborative approach is recommended. However, if the relationship is unimportant but the outcome is crucial, a competing strategy may be more suitable.
"The matrix is a useful tool for analyzing the dynamics of a negotiation situation and selecting an appropriate strategy." It encourages you to assess your priorities and adapt your approach accordingly.
A trend I’m watching
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Alternative proteins, including plant-based, fermentation-derived, and cell-cultured options, are surging in popularity as consumers seek more sustainable and ethical choices. The global alternative protein market is projected to reach $19.2 billion by 2028, growing at a CAGR of 7.7%. Impossible Foods and Beyond Meat have led the charge in plant-based meats, while startups like Perfect Day are pioneering animal-free dairy through precision fermentation. Even traditional meat giants like Tyson and Cargill are investing heavily in this space.
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Potential opportunities in the alternative protein trend include:
Developing new ingredient sources and blends to improve taste, texture, and nutrition of plant-based products. Algae is an especially promising yet underutilized protein source.
Hybrid products combining plant proteins with small amounts of cultivated meat or fermentation-derived fats to bridge the gap between fully plant-based and conventional options.
B2B plays providing key inputs like growth media, bioreactors, and consulting services to alternative protein companies to enable faster, more efficient scale-up.
Insect-based proteins for animal feed, pet food, and eventually human consumption as a highly sustainable yet palatable option.
If you’re interested in more trends and business ideas, check out Capital Ideas—Faster Than Normal’s paid sister publication (Subscribe with one click).
Tactical reads
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> When you need to track the metrics that matter
How to set up a KPI Dashboard for your Pre-seed and Seed Stage Startup (Read it here)
> When looking for multibaggers
The Makings of a Multibagger (Read it here)
> When you need to choose what to read
How I choose what to read by David Perrell (Read it here)
> When thinking about deep tech
The Golden Age of Deep Tech (Read it here)
> When writing your wealth building laws
The Gospel of Wealth by Andrew Carnegie (Read it here)
1 question
If you accomplished your biggest goal, would it change your world or the world?
That’s all for today, folks. As always, please give me your feedback. Which section is your favourite? What do you want to see more or less of? Other suggestions? Please let me know.
Have a wonderful rest of week, all.
Recommendation Zone
⎯
Two years ago, I hired an offshore assistant for the first time. Since then, I’ve recommended many people do the same. It’s been one of the highest leverage things I’ve done, helping with everything from marketing and customer support (for The Intelligence Age) to personal matters and email management.
Athyna is a service that quickly (<5 days!) finds remote employees across 150+ countries for you or your team. They cover roles from sales and marketing to creative and product, and have worked with companies like Facebook, Zoom, Uber, Microsoft, Salesforce, and Amazon.
I’ve personally used Athyna and recommended them to my Brother, Will, who runs a fashion label, and several close friends running their own businesses. To date, they’ve all had very positive experiences.
If you’re in the market for talent, visit their website to explore options and cover all your hiring needs.
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Alex Brogan
Find me on X, LinkedIn, YouTube, Instagram, TikTok
Offshore Talent: Where to find the best offshore talent. Powered by Athyna.
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