Prof Bruce's definitions
To bring people on board or to get them onside with an idea or a proposal or an initiative of some type by getting them 'intricated' into the process bit by bit, almost without their noticing that they are making a commitment.
When a group was trying to Bring Back the Ottawa Senators in 1990, a team that had not played in the National Hockey League for nearly 60 years, one of their key advisers, former US Attorney General, Elliot Richardson (now deceased) said: "First we'll intricate the League then we'll get the (expansion) franchise!"
by Prof Bruce March 5, 2009
Get the Intricatemug. Every time you hear an economist utter yet another wrong or contradictory prediction, you can instantly feel better using this expletive. “If all economists were laid end to end, they would not reach a conclusion,” George Bernard Shaw.
“Economists have accurately predicted nine out of the past five recessions,” paraphrasing a supposed quip by Nobel economist Paul Samuelson about the stock market. If you are feeling frustrated by a lack of precision from economists, you can curse the profession by exclaiming: ‘Frigonomics’.
by Prof Bruce July 13, 2010
Get the Frigonomicsmug. A lifestyle business is an enterprise that provides its Founders/Owners with an adequate personal lifestyle but that is all. In other words, it does not represent a game changing, large-scale opportunity that others such as Venture Capital funds can or would participate in—there just isn’t a large enough market, growth is too low or their market share is too small.
“We run one of the most successful east coast VC-funds but a lot of the entrepreneurs who are coming to see us these days are really pitching a lifestyle business which, frankly, we have zero interest in. Even if everything goes exactly right, their growth rate is so low and the overall market is so small that, apart from giving the Founders each a job, there isn’t anything left over for us. We need to see more game-changing opportunities that will provide us with a return on investment that is 10 times what we put in. The only way to get a lifestyle business off the ground is to bootstrap it.”
by Prof Bruce April 1, 2010
Get the lifestyle businessmug. A Startup Whisperer is a person who has a natural feel for what it takes to build a successful new enterprise.
“Thinking of starting a new business and not too sure what you need to do? Then call in the Startup Whisperer.”
by Prof Bruce September 13, 2010
Get the Startup Whisperermug. A client when buying your product or service can experience a negative cost if the benefits from using your product or service are greater than its cost. A negative cost can also result from a reduction in their costs from the use of your product or service that is greater than the cost of buying the product or service from you or it may result from some combination of higher benefits and lower costs.
Negative cost selling is all about understanding your client’s business from their point of view and being able to measure the benefits you create and the cost reductions you cause.
Negative cost selling is all about understanding your client’s business from their point of view and being able to measure the benefits you create and the cost reductions you cause.
“A minor soccer team organizer approaches a professional team for a donation to help with their upcoming tournament. Instead of just giving them money, the pro team gives them tickets at a discounted price (say $25 each) which they in turn sell at full retail price (say $45 each). They keep the difference. Their cost for each ticket is a negative cost, i.e., -$20. This also turns all the local minor sports teams, the players, their moms and dads, grandmothers and grandfathers into a new sales channel for the pro team which helps to fill their arena or stadium. It also teaches the kids about entrepreneurship and self-reliance and they come to understand the maxim: ‘Give a person in need a fishing rod, not a fish.’”
by Prof Bruce October 30, 2009
Get the Negative Costmug. To intricate someone; to bring people on board or to get them onside with an idea or a proposal or an initiative of some type by getting them intricated into the process bit by bit, almost without their noticing that they are making a commitment.
When a group was trying to Bring Back the Ottawa Senators in 1990, a team that had not played in the National Hockey League for nearly 60 years, one of their key advisers, former US Attorney General, Elliot Richardson (now deceased) said: "First we'll get the League’s Board of Governors intricated then we'll get the (expansion) franchise!"
by Prof Bruce March 5, 2009
Get the Intricatedmug. My cell phone company provided me with an ‘all you can eat’ one price, all inclusive deal that turned out to have numerous exclusions. They sure know how to wrangle money out of their clients with service level agreements that no one but a lawyer understands. That firm is a money wrangler, for sure.
by Prof Bruce March 15, 2010
Get the Money wranglermug.