CFD 415 – The WTF Moment And How To Solve BIG Problems

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This episode tears down your ideas about business and builds them back. You will discover the power of positive destruction.

Seth Merrin is an entrepreneur, global business leader, and philanthropist who has reinvented how Wall Street can work for good and use technology to make the markets safer and more efficient for investors.

As founder and CEO of Liquidnet, Seth has built a different kind of financial services company that is dedicated to rewiring the asset management industry by eradicating market inefficiency, driving investment performance, and enabling the efficient flow of investable assets around the world.

Podcast Highlights

  • Who is Seth Merrin?

Seth always had the perspective of looking at what is, and how it can be made better. His experience early on, with computers, led him to think about how technology can disrupt current paradigms.

  • Solving Big Problems

Seth’s first company was focused on bringing Wall Street into the digital age.

You should stack the deck in your favor, and create an unfair competitive advantage. What are the biggest problems your prospects have that have not been solved? What is something that is just “the cost of doing business”?

There are huge problems in plain sight, in virtually every industry. The question is can you see it?

  • The Power Of Positive Destruction

Remove the constraints, and look at the problem from a completely new angle.

  • A Positive Impact

To create a truly positive business, you must break down the problem and the current solutions.

Most people are stuck in their day-to-day activities. Take some time off to walk back and look at opportunities to improve the business.

  • Industries Due For Disruption
  • Adopting A Positive Destruction Mindset

Look for the WTF moments in your business. Change your mindset to “why do we do it this way, and how can we make it better?”

Quantify your problems, and solve the one that can either generate the most revenue or save the most money.

  • Building Bigger Companies

Make your pitch so compelling that your customer would feel stupid not to accept your offer.

Reference: The Power of Positive Destruction, Seth Merrin

  • Seth’s Takeaway

Failure is not an option. You must have conviction and keep pushing forward. Companies often go out of business not because the idea is bad, but because they run out of money.

Look at business as a series of problems that need to be solved.  

Links:

www.liquidnet.com

www.positivedestructionbook.com

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