The Cost of The Ferrari Brand? At Least $390 Million

Ferrari Enzo

Ezra Dyer puts Ferrari’s brand-production decisions in perspective:

Ferrari had 1,000 orders for the $650,000 Enzo after the car was unveiled in 2002, but the company stuck to its decision to build only 399 cars (plus one for the pope). By my math, that means it left $390,000,000 on the table in the name of exclusivity and almighty demand. With those 600 never-built Enzos, Ferrari essentially invested $390 million in its own legend.

Because nothing whips rich people into a frenzy quite like telling them they can’t have something.

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Categorized as Branding

Interview with Alex Kirtland at UsableMarkets

Alex Kirtland interviewed me for his blog UsableMarkets about my work on Smart Experience. Here’s a highlight of me in a young turk mood…

…Smart Experience students tend to be younger, technically-savvy, and willing to experiment, so we don’t have to adhere to tradition when we think another way is better. If we want to run a “class” about field research that meets in private homes watching how people use their home computers, we can do that. We don’t have a binder full of stifling policies to keep us from innovating.

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Categorized as Teaching

A Busy Itinerary…

I’ve spent the Winter and a better part of the Spring planning and scheming, and I’m ready to get back into the fray in a public way. Here’s where you can catch me in the next few weeks:

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Categorized as Events

Back Home After Overlap 07

Overlap 07 event

I ventured up to “cottage country” north of Toronto this past weekend for Overlap 07, now in its second year of exploring the overlap of design and business in a small event format out in a beautiful, woodsy setting. Again, it was inspiring and useful, perhaps more so as the mix of design, business, media, and scientific perspectives was more even. Thanks go to the folks from Torch for making it a success.

There’s a lot to say about it. But one of the big topics of conversation was our growing discomfort with field’s myopia with innovation: discomfort with the word as well as the focus on the high-risk/high-return sort of innovation. We talked and heard research about organic growth and risk profiles that allowed companies to thrive in the long term with less risk and pretty good returns. The highlight IMHO was Jeanne Liedtke‘s overview of their research in this area and the profile of individuals who tend to succeed, which I summarized:

  • Personality of ambidextrous entrepreneurs is shaped by their work experience, usually changing roles often to build their repertoire.
  • They exert great influence in their environment.
  • Some are assholes, but some simply practice pragmatic leadership — setting goals, expecting performance, being tough but still loved as leaders (not just touch-feely counselors).
  • They have a true interest in customers instead of the usual market research.
  • They have a senior boss run cover for them as they ignore organizational constraints to pursue revenue.

Along the way she mentioned the work of Carol Dweck who I need to read up on.

There’s some Overlap07 photos on Flickr.

Business Books for Designers

My friend Austin wrote me, “I’m putting together a list of recommended books for designers interested in strategy, the business side, and jumping into entrepreneurship. Can you recommend 3-5 books you think are indispensable?

I don’t think there’s a single book that fits that description well, and I’ve wondered if a ‘business for designers’ book would be popular or not. But pressed for an answer, here’s the 3-5 I pointed to:

What the CEO Wants You to Know — what I use as a textbook in my ‘Business & Design’ class at Pratt. A simple primer.

Founders at Work: Stories of Startups’ Early Days — reading it now, very interesting as history and very reassuring for me during the initial, difficult stage of building a business to know everyone goes through the same pain.

Strategy Safari is probably the best primer on strategy. Innovator’s Dilemma is important these days, as is Blue Ocean Strategy. Though they’re all so long I don’t have time to actually read any of them; they’re reference.

Want more? John Hagel (whose writing is excellent) has a great list of tech-influenced strategy references.

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Categorized as Books

How to Treat Sports Injuries

If you don’t have severe symptoms, use the RICE (Rest, Ice, Compression, and Elevation) method to relieve pain, reduce swelling, and speed healing…

  • Rest.
  • Ice. Put an ice pack wrapped in a towel to the injured area for 20 minutes, four to eight times a day.
  • Compression. Put even pressure on the injured area using an elastic wrap, special boot, air cast, or splint.
  • Elevation. Put the injured area on a pillow, at a level above your heart.
Published
Categorized as Fitness

Innovative Friends: Jim’s Navigation Book

My friends are doing brilliant things these days and I feel compelled to send out some props. I’ll start with Jim Kalbach, whose book Designing Web Navigation: Optimizing the User Experience will be out in August, but who apparently can’t stop writing and has started a blog.

We haven’t had a book on this topic in years, and Jim’s will be the first book dedicated to this topic to talk about how to design navigation, not merely describing how existing designs work. I’ve swam deep in those waters, and almost wrote a book as well, so I like to think I know the territory. So it won’t surprise when I say I think this is a significant topic, one that influences a large swath of society’s use of information these days. And I’m happy to say that Jim, with his dual academic background and years of hands-on experience, is perhaps the best qualified to write the book. I’ve only seen a couple chapters so far, but I’m anxiously awaiting the rest.

How to Strength Train Anywhere

Strength training is associated with muscle heads, but it’s smart for everyone. We know that muscle tissue burns calories, so strength training not only makes you stronger and look better, it helps you avoid weight gain when you’re not exercising.

In general:

  • Do total-body workouts 3 days a week, resting one day between workout days.
  • Do abs exercises every workout, or every day.
  • Exercise muscle groups in rotation (“circuits”) so the muscles have time to recover. This allows you to do more exercises overall in less time.

A sample routine you can do anywhere without equipment:

  1. Bulgarian Split Squat, 12-15 repetitions with each leg
  2. Rest for 60 seconds
  3. Inverted Shoulder Press, 8-10 repetitions
  4. Rest for 60 seconds
  5. Repeat the above 2 more times
  6. Single-Leg Deadlift, 5-6 repetitions with each leg
  7. Rest for 60 seconds
  8. T Pushup, 10-15 repetitions
  9. Rest for 60 seconds
  10. Repeat the above 2 more times
  11. Plank, hold for 60 seconds
  12. Rest for 60 seconds
  13. Repeat the above

Too easy? Make it harder:

  • Raise your hands above your head — so your arms are straight and in line with your body — during a lunge, squat, crunch, or situp. If that’s too hard, split the distance by placing your hands behind your head.
  • Move the floor farther away. For many body-weight exercises — lunges, pushups, situps — your range of motion ends at the floor. The solution: Try placing your front or back foot on a step when doing lunges; position your hands on books or your feet on a chair when doing pushups; and place a rolled-up towel under the arch in your lower back when doing situps.
  • Use the 4-second pause in any exercise. And give yourself an extra challenge by adding an explosive component, forcefully pushing your body off the floor — into the air as high as you can — during a pushup, lunge, or squat.
  • Simply twist your torso to the right or left in exercises such as the lunge, situp, and pushup. You can also rotate your hips during movements such as the reverse crunch.
  • Hold one foot in the air during virtually any exercise, including pushups, squats, and deadlifts. You can also do pushups on your fingertips or your fists.

Aside: Why, at age 37, am I just learning all this now? I realize the physical education classes in American schools are mostly intended to give the students exercise, but don’t necessarily teach them how to continue that exercise themselves beyond school. I’d like to see gym teachers teach kids a basic 15 minute routine they could continue their entire lives.

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Categorized as Fitness

How to Delegate

The four-step process for delegation:

  1. Train
  2. Enable
  3. Delegate
  4. Let Go

Danke to Ulrike for this one.

How to Run

One thing blogging has given me is a place to put summaries of good stuff. I find books increasingly too long and boring to read through, I crave the gist.

Much of what we know about fitness can be boiled down into relatively simple processes. Here’s the common formula for increasing your running endurance:

  1. Run for as long as is comfortable
  2. Walk for 1 minute
  3. Repeat the above for 30 minutes
  4. Each day, increase your running time 1 minute
  5. Gradually decrease your walking breaks, to one about 2/3 through the
    workout, and eventually to none
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Categorized as Fitness

Blue Oceans for Little Fish

I recently finished my first three-week session at Stacy’s Boot Camp, a calisthenics-based workout class held for one hour, three times a week, for three weeks. Sometime during the class when I was trying to avoid thinking about the pain I was in, it occured to me this is a wonderful example of a Blue Ocean strategy on a small scale.

  • The classes take place in New York City parks, so the costs and kept low and the savings are passed to the student
  • The unique offering requires no gym, and therefore no knowledge of equipment, no signup fee, no long obligatory memberships, etc.
  • It’s a very intense workout, using the latest understanding of body-weight strength training, three times-a-week whole-body workouts, and circuit training. Some simple content expertise makes this possible, and there’s no doubt that at the end of the session one is in better shape than at the beginning.

The kicker is that this doesn’t have to be a small business; Stacy could expand to parks all over the world, much faster than a gym chain could.

Frog Design Groks SmartEx

Ian Curry, design analyst at Frog Design, pens an interesting look at the current state of design education in The Known Unknowns: Exploring the evolution of design education in response to the industry’s expanding role. We’re honored he includes SmartEx alongside the Institute of Design and Stanford’s d.school, two schools for which we have great respect.

Curry writes…

Lombardi’s current project is designing a design school. Yes, a design school, but not as we know it. He hopes to close the gap between what schools teach and what the industry requires. As a web guy, Lombardi sees this gap as the result of a classic coordination cost problem. Traditional schools are beholden to administrative tasks, which lessen their agility when it comes to changes in the field. Lombardi’s answer is a new kind of school, coordinated over the web but with meetings in real classrooms around Manhattan. Launched recently, Smart Experience is essentially an experiment in bottom-up design education. Using a wiki-like format, students request topics they want to learn about and instructors pitch classes they want to teach.

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Categorized as Teaching

Props from Lou Rosenfeld

Lou Rosenfeld, who helped create the field of information architecture with the “Polar Bear Book” blogged his reaction to Smart Experience

…Smart Experience is essentially a broker of dialogues between teachers and learners at different levels, starting with sharing thoughts on rough topics, and ending with an actual course (with students, a teacher, course materials, and a venue).

Victor, whether he realizes is or not, is now officially an infrastructuralist… Best wishes, Victor; I’m really looking forward to watching Smart Experience grow!

Thanks Lou!

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Categorized as Teaching

Anton Chekhov on Powerpoint

I’m not convinced the MFA is the new MBA, though I like this use of Chekhov’s technique for talking to clients: “One of Chekhov’s more famous quotes was “Any idiot can face a crisis; it is this day-to-day living that wears you out”. His simple philosophies come through in his stories, which were not noted for their intricate plots. Rather, Chekhov found emotion and drama in ordinary, everyday events…. How Does Chekhov’s Model Work? First, Anton tees up a messy situation. Second, he describes the impact the situation is having on his characters – then delights us with an ending.