In a 2007 article in The New Yorker, Atul Gawande, a surgeon and an author, advocatedthat more hospitals use checklists. He cited many medical studies showing how checklists save lives (and money). Implementing one checklist, a hospital "…prevented forty-three infections and eight deaths, and saved two million dollars in costs." The startling part: the list was only five steps long! In other words, people don’t consistently follow...
Read More
About two weeks ago in Charleston, SC, in spin class where I sounded like I was getting a hair transplant, I enjoyed being at once together with my friends in the class and yet competing with them. When they peddled harder and stood up, I wanted to also. Our competing didn't mean that there was one winner and everyone else lost. It wasn’t a zero-sum game. In that spin class, we all won. After that class, we all felt great. Competition is an ...
Read More
When I flew home yesterday from Charleston, while most people were seeking relief from their sunburns and reminiscing about their vacations, I was delving into The Wall St. Journal’s profile on Tracy Britt Cool, an ex- Berkshire Hathaway star. Mrs. Cool’s new company Kanbrick invests in businesses with $10m - $50m in revenue. What does Mrs. Cool look for when investing in a company? People and moats.
At Bridge, we’re reading Jim Collins’ Beyond ...
Read More
At the Bridge ‘office’ (which stretches from Seattle to Brooklyn), we’re currently reading Jim Collin’s book Beyond Entrepreneurship 2.0. We’re reading the book together because it helps us learn insights into working together and running the best company we can. On page 275, Mr. Collins shares an anecdote about a group of workers at an airplane manufacturing facility during World War II. The workers found inspiration from meeting the crew that flew the planes they ...
Read More
Some people like to sit on the sofa and eat Ben & Jerry’s ice cream. I roll my eyes at this because I’m very different: I like to read the Wall St. Journal’s Christopher Mims …while eating an entire pint of Ben & Jerry’s on the sofa. This past weekend, Mr. Mims suggested companies may be reassessing where they source products, some even considering more domestic production. The motivation for this started a few years ago with the U.S.-China trade war, ...
Read More
Jeff Lawson, CEO of Twilio, a software company valued at $28 billion, was recently interviewed in the Wall St. Journal. When he shared who his advisors are, I was surprised to see Danny Meyer, the restaurant kingpin who owns Shake Shack (another publicly-traded company). Mr. Lawson read Mr. Meyer’s book “Setting the Table” and was impressed to learn about the difference between service and hospitality. Service is the delivery of the technical aspects of ...
Read More
Businesses like Walmart, Disney, and Discovery are bundling services and adding the “+” suffix to denote them (e.g. Disney+, Discovery+, W+, etc.). In a recent article in RetailDive, we learn that Walmart is giving its customers free, six-month trial Spotify accounts. I think W+ bundling services is smart. Last week, I compared running a gym to offering software. I spoke about bundling services with things that people like to increase their usage, such as work ...
Read More
In a recent NY Times article about working out, the author Christie Aschwanden gives readers tips on how to make working out more enjoyable. (Read the article: https://www.nytimes.com/2022/01/19/well/move/habits-motivation-exercise.html). In reading this, I saw many parallels between working out and helping our stores get their websites ‘in shape.’ The author encourages readers to not think of working out as exercise and instead think of it as "hanging out with friends...
Read More
Peloton’s new CEO, Barry McCarthy, was recently interviewed in the New York Times (Read the article here: https://www.nytimes.com/2022/02/19/business/dealbook/barry-mccarthy-interview-peloton.html). The authors asked Mr. McCarthy if he thought that everyone who needs a workout bike already had one. They questioned where else a company making stationary exercise bikes can go (…an ironic question for a bike product that literally can’t move). The Times wanted to know what ...
Read More
In the movie 'We’re the Millers,' a character played by Jason Sudeikis interviews a teen boy wooing Sudeikis’ teenage daughter. Sudeikis interviews the boy about his interests and compatibility with his daughter. (Watch the scene here: https://www.youtube.com/watch?v=rjkLKKgOMRY .) The boy’s neck tattoo reads “No Ragrets.” When Sudeikis inquires about this tattoo, the boy confidently claims that he has no regrets, to which Sudeikis asks, "Not even&...
Read More
This past weekend on the way to Florida to visit my brothers, I read about Squarespace’s advertising history. (Read the article: https://www.nytimes.com/2022/02/13/business/how-did-squarespace-know-podcasts-would-get-this-big.html). In 2009, Anthony Casalena, the founder of Squarespace, paid $20,000 to advertise on a tech podcast. While that was a lot for a small, young company (Casalena had started his business just six years earlier in a dorm room in 2003), Casalena said the ...
Read More
I recently saw an advertisement for Windows 11 in Wired magazine. I thought: “Wow, finally something from Microsoft that someone can understand: a logical name for their software offering.” I recall a time when Microsoft had a confusing litany of software names including: NT, 98, 2000, Millennium (ME), Windows XP, and Vista--before finally relegating those clumsy names to the desktop recycle bin and adopting a simple, progressive number system. Apple has been naming its ...
Read More
I recently bought a pair of jeans from the bike-lifestyle company Rapha. I find Rapha's stores, emails, and mission to be inspiring to Bridge, and I'll explain why.
First, you may ask, "What is Rapha?" Rapha is a product company that sells goods for biking, including shirts, shorts, helmets, and accessories. What is unique is the lengths it goes to foster a community (and sales!) by having a coffee shop in it, organizing riding events, offering members-only clothing...
Read More
Jim Collins, in his book BE 2.0, explains how purpose and mission are important to companies. To help explain this, he uses the metaphor of crossing a mountain range and seeing a star on the horizon. Your purpose is to reach the spot on the horizon below the star. The current mission is climbing up the mountain you’re on. The next mission is climbing up the next mountain and so forth in order to get closer to the spot on the horizon. You will have many missions, and may never ...
Read More
George Lois, the famous advertising maven, writes in Damn Good Advice that he doesn’t create an advertising campaign as much as he discovers one. He pulls it out of the air and captures it. He shares that Michelangelo said that a sculpture is imprisoned in a block of marble, and only a great sculpture can free it.
I view Bridge in a similar way. We’re not creating the software—we’re discovering it. Our methods for operating an online store were bound to...
Read More
While I was down in Dallas evangelizing about Bridge, the Dallas Market Center’s software provider and sister company (called MarketTime) invited me to their offices for a meeting. The goal of the meeting was to explore teaming up to help brands and retailers speed products to market, as well as get a leg up on the competition.
The Dallas Mart consists of two primary buildings, each with atriums and many floors each. I like the Dallas show because of the abundance of ...
Read More
In the book Great by Choice, Jim Collins posits that processes are key to an organization's success. As an example, he cites John Wooden, the NCAA championship-winning UCLA basketball coach, who trained athletes on processes that included everything from shooting to tying one’s shoelaces. In practicing, a player may perfect their shoelace tying and do thousands of repetitive free-throw shots. When we watch a game from the nosebleed seats like me (...what can I say, I’m ...
Read More
Scott Galloway, an NYU marketing professor and soon-to-be CNN host, suggests that when we assess a market, we start by asking how much one's experience using the service has changed in the past few decades. For example, when you go to your doctor’s office, if you were to spin around and pretend it’s 1990, how different is your experience today vs. 30 years ago? Scott often critiques doctors' offices, hospitals, and colleges because he believes they have not evolved enough in services...
Read More
When I was 24-years old, a market research company sent me to Philadelphia to survey potential users about a new offering from General Electric Finance. Your first question may be: "Wait, Jason was once 24?" Your second may be: "GE had a consumer finance arm?" Yes, and yes. GE was once a conglomerate with its hands in many industries, from television to nuclear reactors to jet engines. GE, like Toshiba and Johnson & Johnson, has since shrunk. But the era of the ...
Read More
Retailers have had a difficult time in recent years, as brands have increasingly circumvented them. With the advent of e-commerce websites and social media, brands are pitching their wares directly to consumers and cutting out retailers.
I’ve sometimes wondered: What if the factory decides to do the same and cut out the brands? If the retailers don’t like it, how will the brands? Some businesses are now trying this. Services like Italic allow a consumer to bypass...
Read More