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If you want to build an amazing hot dog business, you want to put your hot dog stand on the bes

In a parable, a hot dog seller granted one wish from a genie skips cheaper prices, better taste and faster cooking. The genie tells him the real edge is location: a stand on the best corner in front of a hungry crowd sells out every time.

Watch on YouTube If you want to build an amazing hot dog business, you want to put your hot dog stand on the bes

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Key takeaways

  • This guy started a business selling hot dogs, and he was given one wish from a genie of what competitive advantage he would be able to have.
  • The first thought he had was like, "Maybe I'll make my hot dogs cheaper." >> [music] >> The genie shook his head and was like, "No." "What if I made my hot dogs taste better?" And the genie said, "No, don't waste your wish on that." Or the guy's thinking, "Maybe I'll just make mine the fastest [music] cooking so I can serve the hot dogs faster." And the genie said, "That's not what you want to waste your wish on." So, the genie looked at him holding the hot dogs and buns in hand and said, "It's not about the hot dogs.
  • If you want to build an amazing business, you want to put your hot dogs stand on the best corner in front of a starving crowd.

Chapters

  1. 0:00
    Abschnitt 1 This guy started a business selling hot dogs, and he was given one wish from a genie of what competitive advantage he would be able to have.

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

1 segments

0:00This guy started a business selling hot dogs, and he was given one wish from a genie of what competitive advantage he would be able to have. The first thought he had was like, "Maybe I'll make my hot dogs cheaper." >> [music] >> The genie shook his head and was like, "No." "What if I made my hot dogs taste better?" And the genie said, "No, don't waste your wish on that." Or the guy's thinking, "Maybe I'll just make mine the fastest [music] cooking so I can serve the hot dogs faster." And the genie said, "That's not what you want to waste your wish on." So, the genie looked at him holding the hot dogs and buns in hand and said, "It's not about the hot dogs. If you want to build an amazing business, you want to put your hot dogs stand on the best corner in front of a starving crowd. Because if your hot dogs stand is on the corner, it doesn't matter how cheap they are, how good they taste, how fast they cook, the moment that hungry crowd walks out and sees your hot dogs stand, you're going to sell it every time."