Walt Disney gained worldwide fame with the animated film ‘Steamboat Willie,’ but Disney’s first studio went bankrupt. By the mid-1930s, he had produced over 400 animations, most of which suffered heavy losses. In 1938, Snow White and the Seven Dwarfs made $8 million in just the first half—more than ten times the earnings of other films. Meanwhile, with this animation, the company paid overdue wages to its employees and recovered the losses it had sustained. An unusual event that changes everything is called a “tail event.” 40% of publicly listed companies in the U.S. stock market lose nearly all their market capitalization 10 years after going public. Business and investing, after all, are based on probabilities. No one knows what the “tail event” will be. Therefore, to succeed, you need to try small, steady, many times with little impact, even if you fail. - Joseph’s “just my thoughts”
In this era, the credibility of the messenger is more important than the content of the marketing message . This means that who said what and who delivered the message are more influential and important. Therefore, rather than merely trying to convey something, it is necessary to establish who the messenger is and to build trust with the public . Thus, defining identity comes first, followed by the sincerity to constantly inform others. Then, people may believe anything, even if it’s a lie, but you must not tell lies. Who we are, what we do, and why we do this, no matter how small, must be communicated with faithfulness and persistence. Don’t try to convince the public; you have to build relationships in order to establish trust with people. The most important factor in forming a relationship is my identity. - Joseph’s “just my thoughts”