Some Good, Simple Advice

Entrepreneur Greg Mondshein Discusses The One Personal Challenge That Made Everything In Business Seem Like No Big Deal

What is the most actionable piece of advice you would give someone trying to get into this type of business or any entrepreneurial endeavor?

Just do things. Try not to overanalyze. Take action. Move forward. You’ll make mistakes, but at the end of the day, you’ll be further down the field than your competitors.

What is the biggest mistake that you’ve made during your journey that you would warn others about?

Forecasting conservatively versus planning for success.

From an accounting perspective, it makes sense, but you have to stop to ask yourself every so often ‘what happens if this works?’

This accomplishes a few things – first and foremost the mental impact of envisioning your success does a wonder on your psyche.

Second, going through this exercise enables you to ensure you have process, staff, and resources in place when you inevitably smash your goals.

(BroBible.com)

So You Want To Be In Sales

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A Piece Of Heaven On Earth Has A New Owner

Volvo's and Lotus' owners just bought a Utah racetrack 

Expansive Utah Motorsports Campus covers 511 acres

Chinese automaker Geely, owner of Volvo and Lotus, continues to expand on a global scale. After an announcement earlier this week that it has invested in building "supersonic trains" in its home country, the company also officially confirmed the purchase of the Utah Motorsports Campus.

The Utah Motorsports Campus, located west of Salt Lake City and just south of the Great Salt Lake, is a massive automotive dreamland. Totaling 511 acres, it includes an adjustable 4.4-mile road track, a 0.9-mile configurable kart track, an off-road course, a rock-crawling course, and a rallycross track. It also includes numerous buildings suitable for race teams and garages, all with a gorgeous background of snowcapped mountains.

(AutoBlog.com)

Uh, Ok . . . . .

CFO Luca Maestri announced that the company will no longer be reporting unit sales of its iPhones, iPads, and Macs because the figures don’t accurately reflect the business. It’s like they say, you can’t change what you can’t measure.

(BroBible.com)

The More Options, The Higher Price. Duh!

Pickup trucks priced like luxury cars out of reach for many buyers 

Consumers are spending far more for new trucks than they expected 

Data from Cox Automotive show that most buyers expect to pay $26,699 for a new midsize pickup like the Toyota Tacoma or Chevrolet Colorado. But the average transaction price in August was much higher, at $33,275. For full-size pickups, the respective gulf was wider: $38,529 versus average transactions of $47,987 — in the same ballpark as the Porsche Macan or even the current, well-appointed versions of the Tesla Model 3 electric sedan. In the last decade through September, according to Edmunds data, prices for full-size pickups rose 48 percent to $48,377.

Much of the sticker inflation is down to added technology and more sumptuous trim options. Low gas prices have also fueled growth in truck sales, as more and more consumers turn to pickups as their family haulers, as opposed to using them strictly for work.

(AutoBlog.com)

Why You Need To Get Er' Done

TWC: What is the most actionable piece of advice you would give someone trying to get into this type of business or any entrepreneurial endeavor?

EB: Do one thing to move your business forward each day first thing when you get up. Most people put off essential tasks necessary to build their business until the evening.

This is a mistake.

When you wait, two things can happen:

The chaos of the day takes hold and your regular work ends up taking all your time.

You’re too exhausted to work on your new business because you’ve exhausted your willpower early in the day.

Wake up early and take one small step forward before anything else

(BroBible.com)

Get Er' Done

9. Make hard decisions fast
 
“Don’t delay doing something hard. Do it quick,” says Cardone. “Adding more time to a problem or situation doesn’t make it easier to solve. Think about what’s best for your success, make sure it’s ethical and do what you need to do.”

(BroBible.com)

This Has Been A Huge Factor In My Growth & Success

4. Work like a multimillionaire
 
Becoming a multimillionaire doesn’t just happen, you have to put in the time, which also includes bettering yourself with research and studying (aka reading).

(BroBible.com)

I Struggle With Being Good At Both Of These

If there was one “type” that is needed it would be the type that can self-start. As a founder you need to be self-motivated and hold yourself accountable to intense goals in an intense environment. There is no boss to hold your feet to the fire and say, “did you put that cover on the TPS report?” If the goal is to build a big business with a team around you, I feel it’s important to be a team player who loves building and coaching all-star teams. - Andrew Forman

(BroBible.com)

This Is A Very Intriguing Statement

Do not worry about people stealing your ideas – the upside of feedback and further ideation with smart people is much higher than the downside, one in a million case, where someone has the passion, time, money, and energy to truly steal your idea and execute on it faster and better than you can. - Andrew Forman

(BroBible.com)

Simple. Because People Want Trucks & CUV's

LC Sales Failing To Meet Expectations - Why Can't Lexus Make A Performance Car That Sells?

Unless your surname is Porsche and your given name 911, the sales volumes generated by premium two-doors are frighteningly small.

Lexus nevertheless brought to market the two-pronged Lexus LC range, as an indirect successor to the SC, with lofty expectations.

Moreover, Lexus was public with its goals, going so far as to respond directly to TTAC to defend the company’s reasoning.

(AutoSpies.com)

Can You Be Both?

I’m always trying to assess when I meet the entrepreneur who founded the company, I’m always trying to figure out one thing first and foremost: Is that person a missionary or a mercenary? The mercenary is trying to flip their stock, the missionaries love their product or their service and love their customer.” - Jeff Bezos

(BroBible.com)

Instead Of Suing Them, They Shoulda Bought Them Out

Nintendo wins judgment against real-life Mario Kart operator in Japan 

The video game maker is ultra protective of its intellectual property 

Bad news, would-be Marios (or, like ex-F1 ace Jenson Button above, Princesses). Marika Co., the entity behind all those real-life Mario Kart sightings on the streets of Tokyo, has been ordered to stop renting to tourists and residents costumes that resemble the characters famously featured in Nintendo's franchise video games.

This judgment comes after Nintendo sued Marika in February of 2017 for violation of intellectual property. Tokyo District Court sided with Nintendo in a ruling that also requires Marika pay Nintendo 10 million yen in damages. That's about $88,000. As of the time this story was published, the website where the karts are booked remains active and populated with plenty of Nintendo-themed characters.

Best we can tell, Marika hasn't been shut down completely, and may still be able to rent go-karts on public streets in Japan. It just can't provide its patrons with outfits to make them look like Mario, Luigi, Princess, Peach, or any other bit of intellectual property owned by Nintendo.

(AutoBlog.com)

Working Smarter, Not Harder - Heavy Lifting Edition

“Everything I’ve ever done has started small. It’s hard to remember for you guys, but for me it’s like yesterday I was driving the packages to the post office myself and hoping one day we could afford a forklift.” - Jeff Bezos

(BroBible.com)

You Sometimes Need To Reset & Restructure To Recapture

VW Group plan puts Porsche in charge of a 'super-premium' division 

It will coordinate efforts at Audi, Bentley, Bugatti and Lamborghini 

An Automobile report looks into what's happening on the organizational and technical sides of the Volkswagen Group, and what those changes could mean for the premium brands. The wide-angle view is that Porsche appears to have been anointed to "coordinate the future activities" at Audi, Bentley, Bugatti and Lamborghini. Audi would cede Lamborghini guardianship to Stuttgart, and Ducati — via a new concern called Ducati Enterprises — would become the shepherd for VW's other Italian investments. Executives target Jan. 1, 2019, to complete the reshuffle.

VW wants to save a boodle by tying up four of its five top-tier brands, and putting the one with the highest ROI in charge. Porsche, within its own house, wants to reduce expenditures by $2.3 billion per year over for four years, the savings already earmarked for improving internal processes like R&D and production. Having Porsche share those gains as well as lead development of platforms, components and future-tech strategies for the sister sports car brands could benefit everyone.

(AutoBlog.com)

Welcome Back

Walmart’s success appears to be a sign of the times. Business is booming and so is the economy. On Thursday the massive retailer reported that it posted its highest domestic same-store sales growth in more than a decade.

(BroBible.com)

This Could Be A Great Partnership

Constellation Brands, the producer of Corona is making a $4B bet on marijuana, investing in Canopy Growth, a Canadian cannabis manufacturer.

The investment gives Constellation a38% stake in Canopy. The brand and many others speculate that the booming Canadian industry will be lucrative in the States once companies like Constellation are guessing will be legalized nationwide in the US before long.

Canopy stocks rose 30% during Wednesday trading on the news. Constellation dropped 6.1%, but if things pan out, Constellation has the opportunity to buy 139.7M more shares over the next three years, or the equivalent in another $5B in funding.

(BroBible.com)

Why Math Is, And Always Will Be Important

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His Knitted Methods Got Results

Comment of the Day: The Real Reason Sergio Marchionne Was Known as 'The Sweater' Edition

Marchionne was equally loved and feared by all. Also, without a doubt, he was the hardest working person in the entire organization. Internally, we called him “The Sweater”, perhaps not so much for what he wore but how anyone felt during a meeting with him. The stories about how hard he worked us are all true. However, he knew that being absolutely relentless was the only way to turn the company around. He saved our company, our jobs, and our pensions.

(Jalopnik.com)

This Picture Speaks Volumes

(Bits&Pieces.us)