Christopher Lochhead, former entrepreneur and retired Silicon Valley CMO, discusses the decline in entrepreneurship and the concept of category design. They explore reasons for the decline, the advantages of creating a new category, and the power of specialization. The importance of category design in business and personal careers is emphasized, along with tips for designing a category for a business. They also discuss the significance of differentiators and the book 'Play Bigger' for further insights.
50:53
forum Ask episode
web_stories AI Snips
view_agenda Chapters
auto_awesome Transcript
info_circle Episode notes
insights INSIGHT
Decline of American Entrepreneurship
Entrepreneurship in America is at its lowest recorded level despite easier business startup conditions.
High education costs and cultural shifts contribute to this surprising decline.
volunteer_activism ADVICE
Better Advice Than Passion and Hustle
Avoid "follow your passion" and "hustle" as entrepreneurial advice; passion may not solve real problems.
Focus on solving a big problem uniquely rather than just being better at existing solutions.
insights INSIGHT
Legends Are Different, Not Better
Competing to be better in existing markets is a losing strategy in a winner-take-all system.
Being different and creating or owning a new category leads to legendary success.
Get the Snipd Podcast app to discover more snips from this episode
Christopher Lochhead (@lochhead) is a former entrepreneur, retired Silicon Valley three-time public company CMO, category designer, host of the Legends & Losers Podcast, and co-author of Play Bigger: How Pirates, Dreamers, and Innovators Create and Dominate Markets. "People remember different in a way they don't remember better." -Christopher Lochhead The Cheat Sheet: Entrepreneurship is at an all-time low. Why? Every legendary product, service, or brand exists because an innovator got product, company, and category right at the right time. Why legends are different, not better. Learn how to design and dominate your own category. Learn how to design your own legendary life. And so much more... Full show notes at https://theartofcharm.com/681/ Find out more about the team who makes The Art of Charm podcast here! Does your business have an Internet presence? Now save a whopping 50% on new webhosting packages here with HostGator by using coupon code CHARM! Want to spend less time shopping for insurance and take advantage of every possible discount? Visit meetamica.com/Forbes and find out why 95% of customers with combined auto and home policies stay with Amica! Stocks $5 a trade. Options 50¢ per contract plus $5 per trade. Futures $1.50 per contract, per side. Ready to make your move? Come to TradeStation.com/Charm! With pain-free invoicing, FreshBooks helps entrepreneurs and freelancers save time and avoid a lot of the stress that comes with running a small business. Try a month of unrestricted use for free here (no credit card required)! Enter ART OF CHARM in the How You Heard About Us section. CastBox introduces an in-audio search capability that offers a brand new way to search for podcasts you may love based on words or topics. Download CastBox for iOS or Android now to try it out for yourself! Free yourself from typing notes, reports, and documents by going with the transcriptionists we trust here at AoC: TranscriptionOutsourcing.net -- 99% or higher accuracy guaranteed! HELP US SPREAD THE WORD! If you dig the show, please subscribe in iTunes and write us a review! This is what helps us stand out from the crowd and help people find the credible advice they need. Review the show in iTunes! We rely on it! http://www.theartofcharm.com/mobilereview Stay Charming!
The Art of Charm 