Andy Swan

Emotional decision-making is the enemy of traders. Here are a few of the ways I’ve learned to eliminate emotion from my processes and become a more profitable (and productive!) investor.
1. Have a data-backed thesis
When you enter a trade based on a “feeling,” you’ll likely exit it based on a “feeling” as well.  And that can be disastrous. Instead, require every trade you make to be based on a theory you have that is validated by some external data....

Every step costs you 20% of your users:
Think about that….. If you can eliminate just one annoying step in your process of going from prospect to client, you could increase your user base and revenues by 20-25%!
That kind of growth usually costs a lot of money, or time.  But in this case, you can get it by simply removing something from your process – or at least moving it til later in the process after the user understands your value proposition....

Yesterday I showed you how Bezos advocates changing your mind.
This falls nicely into the idea of inconsistency as a virtue in the startup world.
I have written on the value of being somewhat unpredictable.  This comes mostly from the idea that people tend to react well to positive surprises…and they tend to devalue (take for granted) consistency....

You might know that I’m a huge fan of Jeff Bezos.  I actually think he’s probably the greatest living entrepreneur.
Here’s a little piece of advice he has for startups.