The discussion kicks off with hilarious thermostat debates and a reflection on a productive 'graycation'. Amusing hotel anecdotes reveal the quirkiness of their low-key presence. They navigate the complexities of identity and humorously tackle the struggles of explaining their professions. Insights into fundraising for childhood cancer awareness take center stage before diving into logistics and data in business. FitBod and Substack's revolutionary roles in fitness and writing are explored, rounding off with thoughtful takes on long-term engagement and membership strategies.
Using process control charts can help businesses track and analyze data to identify patterns and outliers.
Analyzing runs and shifting averages can determine if a change in data is statistically significant, aiding in decision-making.
Tracking data using process control charts enables businesses to identify when a process experiences significant changes, improving efficiency and effectiveness.
Deep dives
Process Control Charts for analyzing business data
One of the main takeaways from the book is the concept of process control charts, which can be used to track and analyze business data. By graphing data over time and calculating the average value, these charts can help identify patterns, trends, and outliers. The book provides guidelines for setting control limits and detecting significant changes in data, helping businesses make more informed decisions.
Identifying significant changes in data
The book introduces the concept of runs and shifting averages to determine if a change in data is statistically significant. By analyzing consecutive above or below average data points, businesses can identify when a change has occurred and investigate the cause of the change. This approach helps separate random fluctuations from true anomalies, aiding in decision-making and problem-solving.
The importance of statistical control in business processes
Understanding and maintaining statistical control in business processes is emphasized in the book. By tracking and analyzing data using process control charts, businesses can identify when a process is stable and when it experiences significant changes. This enables businesses to better manage and optimize their operations, improving efficiency and effectiveness.
Trend lines versus goals
The book highlights the significance of trend lines over goals in business analysis. Setting arbitrary or unrealistic goals can lead to misguided decision-making. Instead, focusing on analyzing trends and identifying variations in data helps businesses gain a deeper understanding of their processes and make data-driven decisions.
The value of sub stack as a platform for writers
Substack has become a successful platform for writers, offering an easy way to set up paid newsletters with a paywall for their content. It has generated a blogging renaissance by providing a way for talented writers to make a living from their writing. Substack exists in a unique position between YouTube and Patreon, offering some reach to help writers gain visibility while also providing a monetization model. It allows for sharing, liking, and recommendations, and has an app to enhance the reading experience. Being on Substack is seen as a real backup platform, not just an emergency option, making it an intriguing option for creators.
The decision to switch to Substack and its challenges
The decision to switch from MailChimp to Substack was motivated by the need to reduce the expensive monthly cost of email distribution. Substack's free email sending made it an attractive alternative. The move also aimed to explore a platform that bridges the gap between YouTube's reach and Patreon's support-based model. However, being an outlier on Substack with a large email list and upfront video content presented challenges. Concerns included potential conflicts with Substack due to unusual usage and the question of how video hosting costs would be managed. Despite reservations, the move to Substack has been cautiously executed, and initial feedback from subscribers has been positive.
Grey reflects on his recent Greycation while grappling with chaos. Myke is keen to explore a major update to Grey's mailing list. Additionally, they discuss how to determine if a change in business is critical.
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