Dan Ariely is one of the most interesting people I have ever come across… I could go on about his various TED talks or the rest of his incredible CV – but you can enter that rabbit hole another time. Today, I wanted to cover Chris Yeh’s Outline of Predictably Irrational: The Hidden Forces that Shape Our Decisions. It’s one of Ariely’s most fascinating books… and takes a peek into the predictable psychology that powers human actions and reactions. As always, I’ll try and pick out some lessons we can apply to our world of watches. Here’s Ariely’s list…
As certain watches gain popularity and resell for multiples of the original retail price, this post aims to discuss some of the pricing dynamics in the watch world, and think through the considerations a brand would need to make before setting the price of a watch. It is simply a discussion and thought experiment, hope you find it interesting.
I never thought I would see the day where I wrote about Vacheron Constantin, and the post was anything other than glowing praise. Many will already know how much I love the brand, and although I only own one watch from their collection, I had, and perhaps still have every intention of owning more of them (although they probably won’t sell me one again). I think the Vacheron executives have become too arrogant, too quickly, and it is extremely disappointing; Even if this behaviour is par for the course with hype brands, people who have seen and experienced the ‘old Vacheron’ have every right to feel disappointed. Sure, this will perhaps become the new normal for the brand, but let’s talk about it anyway.
Many innovators and strategists are obsessed with predicting how the world will change in the future, and then they then try and develop new products and business models to fit this “new hypothetical world”. As Jeff Bezos describes, it can be even more valuable to figure out what will not change in the future.
A post about the state of watch collecting, and a discussion about ways in which people collect watches, along with the impact of these choices.
To summarise the concept; some people see the details in everything they do, like the fox, while others are great at having a singular vision, like the hedgehog. Going back to a critical distiction in the definition of the concept, Jim Collins says it perfectly: The Hedgehog Concept is not a goal to be the best, a strategy to be to be the best, an intention to be the best, a plan to be the best. It is an understanding of what you can be the best at. The distinction is absolutely crucial.
I have seen messages from journalists who are being contacted directly by the collaborator in this watch release, and they are being rudely chastised for something as simple as ‘liking a meme’ about the faulty watch! These journalists are being accused of, in summary, surrendering their own impartiality, by showing support to memes about the watch. Is this how low it goes?
Most collectors of independent watch brands will tell you that they love the watches, but more often than not, they deeply value the close connection or relationship they can build with the brand and the founders.
There’s no better way to dissect the how-tos of branding than to dig deep into the companies everybody knows and trusts. To accomplish this, Entrepreneur teamed with The Values Institute at DGWB, a Santa Ana, Calif.-based think tank that focuses on brand relationships, on a consumer survey that explored the reasons some brands manage to…
Daily deal programs provide a quick influx of cash–but what happens after that? Here’s what you need to know. While daily deals work well for some merchants, for others the positives are outweighed by operational hassles and, more importantly, the costs – and many of those costs only become apparent after the fact. “If you’re…