I watched another lecture by Mohnish Pabrai yesterday.
This was a talk on sales and marketing in TieCon Feb 2014. The video was for one and half hours. Since it was a lecture, I did not watch it in full, but heard completely. The full one and half hour was entertaining and captivating. He started with how he initially thought of marketing was a jazzy or shiny or frivolous work and how his ideas changed after he read a few books by William Davido and Miller & Heiman in the late 1980s. Those books are: Marketing High Technology, The New Strategic Selling, Successful Large Account Management and The New Conceptual Selling. Marketing is about the core value proposition that you put forth in what you believe.
The other books he mentions about are:
Power and Force - by Richard Dawkins - where he quoted on the idea of getting clues from sub conscious mind and keeping the communication channel (between the conscious and sub-conscious mind) free of clogging - so the message is sent across.
Origin and Evolution of New Businesses - by Amar Bhide - this is a research on the successful entrepreneurs and the best practices followed by them. Mohnish could relate to how he did his business with other people mentioned in the book - He gives his explanation of why he used the title "Vice President"
Tom Peters books: In Search of Excellence, A Passion for Excellence, Leadership
He has some very interesting anecdotes in the lecture. His friend, then 19 years old, came up with the InstallShield software which was originally an after thought, non-buillt software listed as just a bullet point in a software exhibition at a conference. A young person out from army, trained in making cables started a cable business, when he realised a demand, later went on to build a cable laying business. These anecdotes he said on the necessity making things that customers want and of pursuing an idea wholeheartedly and changing it as per the needs of the customers and how the competitors evolve.
He says he is an expert cloner and never shies away in admitting the fact. He shared his personal experiences of copying successful ideas (cloning) which he did in his business. His experience in Mumbai with a jeweller who sent a greeting card every year - just to make himself remembered during a big wedding jewellery purchase - that made him to send cards to his customers. A parcel he received from his law firm, where the organization name was written in extra large letters on the envelope - that made him to adopt a similar design for his business envelopes. He says his Pabrai funds is a clone of Buffet partnership model which ran successfully for a decade till Buffet closed it in late 1960s. He also says most of his stock ideas come from other investors.
Watch the video to experience!
This was a talk on sales and marketing in TieCon Feb 2014. The video was for one and half hours. Since it was a lecture, I did not watch it in full, but heard completely. The full one and half hour was entertaining and captivating. He started with how he initially thought of marketing was a jazzy or shiny or frivolous work and how his ideas changed after he read a few books by William Davido and Miller & Heiman in the late 1980s. Those books are: Marketing High Technology, The New Strategic Selling, Successful Large Account Management and The New Conceptual Selling. Marketing is about the core value proposition that you put forth in what you believe.
The other books he mentions about are:
Power and Force - by Richard Dawkins - where he quoted on the idea of getting clues from sub conscious mind and keeping the communication channel (between the conscious and sub-conscious mind) free of clogging - so the message is sent across.
Origin and Evolution of New Businesses - by Amar Bhide - this is a research on the successful entrepreneurs and the best practices followed by them. Mohnish could relate to how he did his business with other people mentioned in the book - He gives his explanation of why he used the title "Vice President"
Tom Peters books: In Search of Excellence, A Passion for Excellence, Leadership
He has some very interesting anecdotes in the lecture. His friend, then 19 years old, came up with the InstallShield software which was originally an after thought, non-buillt software listed as just a bullet point in a software exhibition at a conference. A young person out from army, trained in making cables started a cable business, when he realised a demand, later went on to build a cable laying business. These anecdotes he said on the necessity making things that customers want and of pursuing an idea wholeheartedly and changing it as per the needs of the customers and how the competitors evolve.
He says he is an expert cloner and never shies away in admitting the fact. He shared his personal experiences of copying successful ideas (cloning) which he did in his business. His experience in Mumbai with a jeweller who sent a greeting card every year - just to make himself remembered during a big wedding jewellery purchase - that made him to send cards to his customers. A parcel he received from his law firm, where the organization name was written in extra large letters on the envelope - that made him to adopt a similar design for his business envelopes. He says his Pabrai funds is a clone of Buffet partnership model which ran successfully for a decade till Buffet closed it in late 1960s. He also says most of his stock ideas come from other investors.
Watch the video to experience!
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