Reed Iredale

  • The Ellsberg Paradox

    In decision theory and economics, ambiguity aversion (also known as uncertainty aversion) is a preference for known risks over unknown risks. An ambiguity-averse individual would rather choose an alternative where the probability distribution of the outcomes is known over one where the probabilities are unknown. This behaviour was first introduced through the Ellsberg paradox (people prefer to bet on the outcome of an…

  • Profit Comes from Risk

    I push my advisory clients to give a lot more before they ask. What they have to give up early in perceived return is risky. They have to put relationships, authority, costs of goods or any form of capital on the the line to sell. As a child I watched a close eye on my…

  • Follow-Up Funnels

    I had a fun discussion with my accountant’s dental client. He enquired about doing some pre M&A work. He does a ‘paid clean + check up’ as a loss leader productised offer and that’s what he sends his traffic to. He started losing money on his offer and was starting to think he might stop…

  • Death to Timesheets

    It’s time we ditched the hourly, or time-based billing in arrears. This isn’t pricing and it’s causing the world a lot of pain. It’s time to unshackle yourself from what you don’t know, here’s why. Hourly billing limits your income potential Work with an ASX200 company for 6 months and your work will bring in…

  • Growth is Subjective

    Economists have a theory of value stating ‘all value is subjective’. Meaning the value is what a customer thinks a product or service is worth to them. We have just been through the largest leap in humanity in terms of technology. But are we starving ourselves of the joy that comes with the financial wins?…

  • Do You Know Your TAM?

    Who are your customers? Do you have clear personas? Do you know how many there are of them? What I can tell you is that if you’re not well positioned in a market, you’re going to struggle to go after the right customers from the start. So today I want to teach you about ‘Swag…