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The airline industry has been decimated by the COVID-19 crisis.

There is an urgent need to re-think the traditional airline business model.

Mark Ross-Smith suggested some time ago that Government-owned airlines could become marketing arms for their respective countries.

And that looks like what Garuda Indonesia is doing. 

The national carrier has announced they are merging with 8 other state-owned tourism companies.

Interesting idea. Interesting times.

#airlineindustry #businessmodels #marketing

Survival Bias is a form of selection bias whereby we focus on those that succeed or survive and ignore those that don't.

Whilst focussing only on those that succeed may at first appear logical, the fundamental problem with it is that in doing so you are only looking at half of the story.

Often times it is not what a person or a company does that allows them to succeed, but what they do not do.

And that is the power of analysing those that do not survive.

#biases #businessanalysis #businesssuccess

The Venus One Tourism Academy in Bali is allowing students to pay their fees...in coconuts!

This is brilliant on so many levels...

1. Students who can't afford the education, can now get it.

2. They're learning, not just academics, but how to make real products.

3. They're also learning about creating and running a business.

4. They're learning important lesson about the environment & sustainability.

5. Specifically, they're learning valuable lessons that will be an integral part of the tourism & hospitality business in the future - namely, sustainable business practices.

Well done!

Here's a link to the story - https://bit.ly/2Ulym2X

PS: Thanks to Prof. Gerry Bodeker for the link!

#sustainability #businessmodels #hospitalityindustry

The folks over at the Global Wellness Institute have added a bubble to their famous Global Wellness Economy Monitor bubble diagram - Mental Wellness Economy.

And they've assessed a valuation of USD $121 billion.

For sub-segments have been identified...

- Senses, Spaces & Sleep at $49.5 billion

- Brain Boosting Nutraceuticals & Botanicals at $34.8 billion

- Self-Improvement at $33.6 billion

- Meditation & Mindfulness at $2.9 billion

Here's a link to the Press Release from the Global Wellness Institute - https://bit.ly/3nf1BB4

 

#mentalwellness #wellness #wellnessindustry

If you're looking to raise money for your business, you should think long and hard about whether you're taking Dumb Money or Smart Money.

Dumb Money is where the investor brings nothing else to the table except the money itself.

Whereas a Smart Money investor brings the money but also adds value to the business in other ways.

It may be that the investor brings with her lots of contacts and connections that can help your business grow. Perhaps the investor has a specific set of skills that will help your business. Or maybe the Smart Money investor has other businesses which could add strategic value to your business - with a distribution platform, for example.

Smart Money is obviously preferred. But sometimes Dumb Money is the only option you have.

In that case, Dumb Money is ok. Just be sure you don't give away too much equity in your business too early to a Dumb Money investor. You may live to regret it in the long run.

#smartmoney #funding #startups

A great way to get a handle on your brand identity and brand personality is to think about your brand as a person.

Who is the person that best personifies the type of personality traits that you would like your brand to have?

It might be a movie star like George Clooney, as it was for Nespresso. 

But it doesn't have to be.

If you're treating this as an internal exercise, to get your team all aligned around your brand, it can simply be someone that all the people in your organisation are familiar with.

If you understand that brands need to act and interact with people, the idea of looking at your brand through the lens of a personality makes perfect sense.

#branding #brandpersonality #brandidentity

There's a positive message to be found within this negative statement.

Right now, many people around the world are feeling anxious due to a sudden lack of options, choices and alternatives.

But...and I know this is often easier to say that to do...if you can accept that sometimes it is exactly those options and alternatives that have been holding you back, you can find a way to make that lack of them your superpower.

For when we have alternatives, we often don't give our all to the current choice. 

However, with no other options, we are left with no choice but to give this way our absolute all.

Good Luck!

#alternatives #motivation #resilience

Comedian Dave Chappelle, in his chat with David Letterman on his Netflix series suggested people often assume that their suffering is mutually exclusive to everyone else's.

I guess it is human nature to worry about ourselves first.

But the reality is, just as you may be suffering right now, so too are many. many others.

Acknowledging that doesn't make your pain any less important, to you.

I think that's a nice little lesson in compassion.

#compassion #lifelessons #humannature

David Letterman, the former late night TV host, has been around a while.

So you'd expect him to drop a little wisdom in between the wise cracks once in a while.

That's exactly what he did on his Netflix special interview with comedian Dave Chappelle.

Chances are, if you and I agree on something, we haven't ever really considered all possible angles, arguments or perspectives.

But if we disagree, you can bet your life I will throw every possible argument I can think of at you to convince you I am right.

#alwayslearning #disagreement #differentperspective

Here's a quick Self-Awareness Check.

If you're a basic Reader, you read something interesting and say, 'Well, that's interesting.'

If you're a Teacher, you read something interesting and say, 'Now, how can I help others understand this?'

If you're a Thought Leader, you read something interesting and say, 'What is my perspective on that? Why is it this way? Is there another angle to consider'.

So...honestly...which are you?

PS: Thanks to Thought Leaders Practice for the inspiration. Here's a link to that book - https://bit.ly/30pr7e1

#selfawareness #thoughtleadership #thoughtleader