What are first principles? And are there any for e-commerce sellers? In this episode we’ll explore that topic and explain how e-commerce first principles apply to your business in a powerful way.
What you’ll learn

The 3 Parts Of 1st Principles Thinking Applied To e-commerce. They are:

1.Identify and define your current assumptions.
2.Break down the problem into it’s fundamental principles.
3.Create new solutions

The 5 Questions To Ask Yourself To Apply 1st Principles To E-commerce. They are:

1.What Am I working on right now?
2.What assumptions do I have about how this will help me?
3.Why do I think it will add business value?
4.How much am I spending in time or money?
5.Which basic economic or psychological principles involved?

What Elon Musk Says about 1st Principles Thinking.

Resources Mentioned

The Goal, Eliyahu Godratt
E-myth Revisited
Blue Ocean Strategy
Marketing Warfare (Al Reis & Jack Trout)