Lenny's Podcast: Product | Growth | Career

Business strategy with Hamilton Helmer (author of 7 Powers)

352 snips

May 5, 2024

Hamilton Helmer, a world-renowned expert on business strategy and author of "7 Powers: The Foundations of Business Strategy," dives deep into the essence of competitive advantage. He discusses the essential powers startups should cultivate and debunks common myths about business strengths. Helmer distinguishes between moats and true powers, highlights how AI reshapes competitive barriers, and offers practical strategies for all levels of leadership to harness these insights for growth and success.

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ADVICE

Strategy Timing

Always think about strategy, even before product-market fit.
Consider how your business propositions might enable future power.

INSIGHT

Strategy Definition

Strategy focuses on fundamental business value determinants.
This value-driven focus makes strategy a long-term concept.

INSIGHT

Power Informs Strategy

Power, by offering cost or price advantages, drives business value.
Durability of these advantages turns them into power, creating defensible value.

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Michelangelo, God's Architect

William E. Wallace

This book explores Michelangelo's later years, where he transitioned from sculpture to architecture, culminating in his work as the chief architect of St. Peter's Basilica. It delves into the challenges he faced and his determination to leave a lasting legacy despite knowing he would not see the project completed in his lifetime.

The Gene

An Intimate History

Siddhartha Mukherjee

Dennis Boutsikaris

This book is a historical biography of the human genome, detailing the scientific quest to understand heredity from ancient times to the present day. It weaves together stories of key scientists such as Gregor Mendel, Charles Darwin, Francis Crick, James Watson, and Rosalind Franklin, along with the author's personal family history of mental illness. The narrative explores the ethical implications of genetic research and its potential to change human fates and identities. Mukherjee's writing combines science, social history, and personal narrative to create a compelling and accessible account of one of the most significant scientific concepts of our time.

The Road to Reality

A Complete Guide to the Laws of the Universe

Roger Penrose

Poor Charlie's Almanack

The Essential Wit and Wisdom of Charles T. Munger

Charles T. Munger

Peter D. Kaufman

Originally published in 2005, Poor Charlie's Almanack is a collection of eleven talks delivered by Charles T. Munger between 1986 and 2007. Edited by Peter D. Kaufman, this book draws on Munger's extensive knowledge across various fields to provide a framework for rational and rigorous approaches to life, learning, and decision-making. It is renowned for its sharp wit and rhetorical flair, making it an essential read for investors, entrepreneurs, and anyone seeking to enhance their wisdom and critical thinking skills.

7 Powers

The Fundamentals of Business Strategy

Hamilton Helmer

In '7 Powers: The Foundations of Business Strategy,' Hamilton Helmer provides a detailed framework for identifying and developing the seven key sources of competitive advantage. These powers include Scale Economies, Network Economies, Cornered Resource, Process Power, Branding, Counter-Positioning, and Switching Costs. Helmer draws on his extensive experience as a strategy advisor, investor, and professor to illustrate how companies can create and maintain these powers through real-world examples. The book emphasizes the importance of strategy in conjunction with execution to build enduringly valuable businesses.

1984

None

George Orwell

Published in 1949, '1984' is a cautionary tale by George Orwell that explores the dangers of totalitarianism. The novel is set in a dystopian future where the world is divided into three super-states, with the protagonist Winston Smith living in Oceania, ruled by the mysterious and omnipotent leader Big Brother. Winston works at the Ministry of Truth, where he rewrites historical records to conform to the Party's ever-changing narrative. He begins an illicit love affair with Julia and starts to rebel against the Party, but they are eventually caught and subjected to brutal torture and indoctrination. The novel highlights themes of government surveillance, manipulation of language and history, and the suppression of individual freedom and independent thought.