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#110 Jim Collins: Relationships vs. Transactions
The Knowledge Project with Shane Parrish
Building a Flywheel: Convert and Fuel
The key to success lies in converting the output back into fuel for the operation. By generating returns and growing assets under management, the economies of scale become fuel that drives the flywheel. This flywheel, like a two-piston machine, relies on a balance between providing value to customers and capturing fuel to reinvest in the operation. The existential question arises when deciding whether the purpose is to sustain the operation long-term or to cash out quickly. Siphoning fuel for external gains leans towards a 'built to flip' approach, while maximizing fuel to power the flywheel signifies a 'built to last' mentality.
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