If You’re Not First, You’re Last Book Cover

If You’re Not First, You’re Last

Sales Strategies to Dominate Your Market and Beat Your Competition
Genre: undefined
Book by: Grant Cardone
Publishing Year: 2010
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What’s inside

Money is not the root of all evil; rather it is the lack of knowledge about money that causes problems. We have misconceptions about money, finance, budgets, debt, and income that hinder our ability to effectively accumulate wealth. In this insight, you will learn about how to deal with a financial crisis in the face of a down trotting economy. More than being an economic guidebook, this insight focuses on the humane aspects of a company, especially the smaller ones that are most vulnerable during an economic crisis.

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Lesson 1- The Nature of Economy

The nature of the market is such that the company in the first position continues to gain customers and expand its size and influence while the weaker players make smaller gains. The dominant company benefits from its first-place position and grabs market share away from all the other contenders while those in second position or lower usually pay the price. Such is the nature of a competitive market in today’s world. 

Our world is characterised by rapid economic transitions. CEOs and investors often fear economic reductions that affect the entire financial prowess of a company. It becomes more difficult to raise capital, close transactions, and make accurate projections that affect planning at all levels. People become filled with uncertainty and doubt that negatively impacts their ability to make decisions. These game-changing economic times can occasionally require major transitions in our skill set as well, particularly following periods of extended expansion. People tend to become dependent on a surplus of opportunities, easy credit, and cheap money and develop an attitude inconsistent with reality when market forces work in the favour of a company. But the problem arises when things take a turn for the worse. Every weakness in the organization gets greatly magnified when times get tough. Mistakes become more costly and every transaction is marked by a high possibility of failure. 

Regardless of your product, service, or idea, and despite a challenging economy, you can be first so strive to be there. You must aim to acquire such a position within your company and career in which you are not susceptible to economic pullbacks and start thinking in terms of creating your financial system. 

When the economy changes from favourable to a rough one, people’s responses to it widely vary. Most commonly these are denial, anger, resentment, and even apathy. But lastly comes the phase of recovery. There is always hope and that means there is a way out. New companies, products, and even industries are born out of economic challenges. 

Two things to keep in mind are-

  • there are precise actions that you can take to counter any contraction, and 
  • contractions are excellent opportunities in which to expand and conquer market share.

Lesson 2- Four Responses to Economic Crisis: Part 1

There are four responses people have during economic contractions-

  1. The Cheerleader Response echoes refusal to participate.
  2. The Old-School Response is synonymous with denial and sticking to the usual. 
  3. The Quitter Response emphasizes sitting and waiting till the

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About the author

Grant Cardone Image

Grant Cardone, a powerhouse entrepreneur, spearheads seven companies and Cardone Capital, a real estate firm with a $5 Billion portfolio. As a top global crowdfunder, he raised $880 million via social media. Featured on Discovery Channel’s Undercover ...

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Chapter List
  • Lesson 1- The Nature of Economy
  • Lesson 2- Four Responses to Economic Crisis: Part 1
  • Lesson 3- Four Responses to Economic Crisis: Part 2
  • Lesson 4- Activate your Power Base
  • Lesson 5- Be Persistent
  • Lesson 6- Aim to Deliver Wow Levels
  • Lesson 7- Price and Value of a Product
  • Lesson 8- Advance and Conquer
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FAQs

In the summary of If You’re Not First, You’re Last book, there are 8 key lessons. These lessons include:

  1. Lesson 1- The Nature of Economy
  2. Lesson 2- Four Responses to Economic Crisis: Part 1
  3. Lesson 3- Four Responses to Economic Crisis: Part 2
  4. Lesson 4- Activate your Power Base
  5. Lesson 5- Be Persistent
  6. Lesson 6- Aim to Deliver Wow Levels
  7. Lesson 7- Price and Value of a Product
  8. Lesson 8- Advance and Conquer

If You’re Not First, You’re Last by Grant Cardone was published in 2010.

Once you've completed If You’re Not First, You’re Last book, We suggest reading out Guide to Sleep as a great follow-up read.

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