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)