The Law of Unintended Consequences states that actions or interventions intended to produce a particular outcome may have unforeseen or unintended effects, often negative, that were not anticipated or considered during the decision-making process.

Fix one problem, create another 🛠️🐍 Beware of the ripple effects of decisions.

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The Law of Diminishing Marginal Utility states that as a person consumes more units of a good or service, the additional satisfaction or utility derived from each additional unit decreases, assuming that other factors remain constant. In other words, the more of something we have or consume, the less we value each additional unit.

The first slice is amazing, the tenth? Not so much 🍕📉 More of

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The Jobs to be Done (JTBD) theory is a framework for understanding customer needs and motivations by focusing on the "jobs" or tasks that customers are trying to accomplish rather than just their demographic characteristics or product preferences. It suggests that customers "hire" products or services to help them fulfill specific jobs or tasks in their lives, and successful products are those that effectively address these underlying needs and provide solutions that customers find valuable.

People don’t buy products, they hire them for a job 🏗️🎯 Understand the real needs behind decisions.

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Jevons Paradox, named after economist William Stanley Jevons, describes the phenomenon where improvements in resource efficiency or technological advancements that lead to lower consumption per unit of output paradoxically result in an overall increase in resource consumption or demand for the resource.

More efficiency, more consumption 🔄⚡ Jevons

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Inflation refers to the rate at which the general level of prices for goods and services in an economy rises over a period of time. It is typically measured as an annual percentage increase in the consumer price index (CPI) or another inflation index. Inflation erodes the purchasing power of money, leading to a decrease in the value of currency over time.

The silent thief of purchasing power 💰📈 Inflation erodes the value of money over time.

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Goodhart's Law is an economic principle named after economist Charles Goodhart, which states that "when a measure becomes a target, it ceases to be a good measure." In other words, when a metric or indicator is used as a target for performance evaluation or incentivization, individuals or organizations may manipulate the metric to achieve desired outcomes, undermining its reliability and effectiveness as a measure of performance.

When a measure becomes a target, it ceases to be a good measure 🎯📉

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Gambler's fallacy is a cognitive bias that occurs when individuals believe that past random events influence the likelihood of future random events, despite each event being independent and having no bearing on subsequent outcomes. It is the mistaken belief that, if something happens more frequently than normal during a given period, it will happen less frequently in the future (or vice versa).

Luck doesn’t have memory 🎲❌ Gambler's Fallacy warns against chasing patterns in randomness.

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First mover advantage is the competitive advantage gained by a company that is the first to enter a new market or introduce a new product or service. It allows the company to capture market share, establish brand recognition, and set industry standards before competitors enter the market.

Blaze the trail, own the market 🌟🚪 First Mover Advantage rewards those who dare to go first.

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An exit strategy is a plan outlining how an entrepreneur or investor intends to exit or liquidate their investment in a business or venture. It is a crucial component of strategic planning and risk management, providing a roadmap for maximizing returns and minimizing losses.

Begin with the end in mind 🏁💼 Exit Strategy ensures your moves today align with tomorrow’s goals.

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Economies of scale refer to the cost advantages that result from increased production output or scale of operation. As production volume increases, unit costs (e.g., cost per unit of production) decrease due to factors such as specialization, efficiency gains, and spreading fixed costs over a larger output.

Bigger, better, cheaper 📊🏭 Economies of Scale reveal the magic of scaling up efficiently.

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