The case for sharing your work in public and how Amazon survived the Dot-Com Bubble

Hatched by Kazuki
Aug 21, 2023
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The case for sharing your work in public and how Amazon survived the Dot-Com Bubble
In today's digital age, sharing your work in public has become increasingly popular. Whether it's posting updates on social media, blogging about your progress, or participating in online communities, people are finding value in sharing their work with others. But why is this becoming a trend? And what benefits can it bring?
Some studies suggest that sharing your goals and intentions publicly may actually hinder your progress. This is because the act of sharing your goals gives you a sense of accomplishment without actually putting in the necessary work. You receive praise and validation from others, which tricks your brain into thinking you've already accomplished something. However, other studies argue that sharing your progress can be highly beneficial.
One example is sharing your weight loss journey on platforms like Twitter. By making your progress public, you are more likely to stay motivated and accountable. The support and encouragement from others can keep you on track and push you to reach your goals. Austin Kleon, author of Show Your Work, suggests becoming a documentarian of what you do. By sharing your work in public, you can reflect on your progress and plan your next steps more effectively.
Furthermore, sharing your work in public allows you to adopt a more iterative approach. By seeking feedback and engaging with others, you can ensure that what you're working on aligns with the needs and interests of your audience. Great ideas often come from a network of information in a transparent community. By sharing your ideas, you increase the likelihood of connecting the dots between your ideas and other people's ideas. This can lead to collaborations, partnerships, and even finding mentors in your field.
Working on an idea in isolation can stifle the creative process. Sharing your work in public opens up opportunities for collaboration and growth. While it may feel uncomfortable at first, with time and practice, sharing your work will become easier. Finding people who share your interests and passions is crucial. This may involve joining online groups or attending offline meetups to connect with like-minded individuals.
It's important to note that sharing your work in public should not distract you from actually doing the work. It should be done in a way that fits within your workflow and enhances your productivity and creativity. Once you establish the habit of sharing your work, it will become second nature, and working in isolation may even feel strange.
Now, let's shift our focus to Amazon and how they survived the Dot-Com Bubble. It's commonly believed that Amazon's success was solely due to their innovative product offerings and customer-centric approach. However, there's another crucial factor that played a significant role in their survival - their accounting practices.
Amazon's ability to leverage the Cash Conversion Cycle was a game-changer for the company. The Cash Conversion Cycle measures the time it takes for a company to receive payment for a product they sell. It's calculated by adding the Days Inventory and Days Receivable and subtracting the Days Payable. Essentially, it represents the gap between paying for supplies and receiving payment for products.
Amazon had a negative cash conversion cycle, which meant that they received payment for their sales before they had to pay for their supplies. This gave them a significant financial advantage and allowed them to operate with minimal cash reserves. By streamlining their payment processes and optimizing their supply chain, Amazon was able to maximize their cash flow and invest in further expansion.
This strategy is reminiscent of how Starbucks utilizes their online app to leverage money and enhance their business. Users can deposit money into the app, which Starbucks can then use to develop their business. Although not directly related to the cash conversion cycle, having readily available funds allows companies to invest in creating better user experiences and fueling further growth.
In conclusion, sharing your work in public and optimizing your accounting practices can have a profound impact on your success. By sharing your work, you can stay motivated, gain valuable feedback, and form meaningful connections. Additionally, by managing your cash conversion cycle effectively, you can improve your financial position and seize opportunities for growth.
Actionable advice:
- 1. Embrace vulnerability and start sharing your work in public. Start with small steps, such as sharing your progress on social media or joining relevant online communities.
- 2. Seek feedback and engage with your audience. Actively listen to their opinions and suggestions, and use them to refine and improve your work.
- 3. Review your accounting practices and explore ways to optimize your cash conversion cycle. Look for opportunities to streamline your payment processes and maximize your cash flow.
By incorporating these practices into your workflow, you can unlock new levels of productivity, creativity, and success.
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