This edition is brought to you by Athyna

Good morning to all new and old readers! Here is your Wednesday edition of Faster Than Normal, exploring one short story about a person, a company, a high-performance tool, a trend I’m watching closely, and curated media to help you build businesses, wealth, and the most important asset of all: yourself. 

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Today’s edition:

Cheers,
Alex

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Stories of Excellence

Person: Peggy Cherng

Co-founder of Panda Express, Peggy Cherng, has masterfully blended analytics with fast food, turning a single restaurant into a culinary empire. With a PhD in electrical engineering, her analytical approach transformed customer service through pioneering technology in the quick-service industry. "It’s about continuous improvement," Cherng often says, reflecting her commitment to innovation and quality in building a business that serves millions daily. Her strategy underscores the significance of data-driven decision making in scaling operations.

Key Lessons from Peggy Cherng:

On taking the long-term view: "We've always made decisions based on what's best for the long-term health of the company, not just short-term profits."

On seeing challenges as opportunities: "I've always tried to view problems as chances to learn, grow and find better ways of doing things."

On simplifying the business model: "In the early years, we realized that simplifying our menu and processes was essential for consistency and efficiency as we grew."

Read More.

Company: Braintree payments

Braintree, a Chicago-based payments startup, was founded in 2007 by Bryan Johnson, who had previously worked in credit card processing sales. Johnson saw an opportunity to create a more developer-friendly payments platform with transparent pricing and exceptional customer service. He named the company Braintree after the hometown of Presidents John Adams and John Quincy Adams to convey stability and trust. In 2011, Braintree raised $34 million from Accel Partners and brought on Bill Ready as CEO, with Johnson becoming Chairman. Under their leadership, Braintree grew rapidly, expanding internationally and building out its mobile payments capabilities.

Key Lessons from Braintree:

• On pricing: Braintree started with a high $200 monthly minimum to attract serious customers who valued quality. "Applying a floor helps the right kinds of customers self-select our services," said Johnson.

• On problems to solve: “It’s easy to get caught up in the latest fads, what’s considered ‘sexy,’ and those getting all the attention today. Chasing these things can—at times—be right on, but they can also be a fool’s errand. Often, the best alternative is simply finding and solving an old, boring problem.”

• On hiring: “We’re not only fanatical about hiring the right people, but about determining if they’re the right fit once they join. Fits and misfits are readily identifiable. A bad hire can’t be swept under the rug or ignored because they can’t be sent to a different department or overlooked.”

Read More.

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Accelerants

High-performance tool

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Five Fits Framework

The Five Fits Framework is a strategic tool crafted by the clever minds at startup growth agency, Demand Curve, designed to ensure a business is primed for scaling. It revolves around five key alignments: customer fit, problem-solution fit, business model fit, channel fit, and financial fit. "Each fit is a cog in the machine of growth, and they must all turn in unison for the machine to work effectively," as described by Demand Curve.

Why does this framework resonate? First, it's comprehensive. It doesn't just stop at product-market fit — a common pitfall. It goes further, scrutinizing the harmony between your product and its market, the channels through which it's sold, and the economic model that sustains it. Second, it's about readiness. It's not just about having a great product; it's about having the right team, culture, and market opportunity. Third, it's dynamic. The framework acknowledges that each 'fit' can and will change over time, necessitating continuous evaluation and adaptation.

Reflect on your business. Have you considered all five fits? Or have you been laser-focused on product-market fit alone? Remember, "A chain is only as strong as its weakest link." The Five Fits Framework ensures you're strengthening every link.

A trend I’m watching

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Sustainable fashion is gaining serious momentum, with consumers increasingly demanding eco-friendly apparel and brands investing heavily in green innovations. Exciting new technologies are emerging across the entire fashion value chain - from alternative materials like mushroom leather and recycled fibers, to AI-powered tools for virtual sampling and on-demand manufacturing. Startups like Renewcell are pioneering textile recycling at scale, while platforms such as Naia™ Renew make it easy for brands to source sustainable fabrics.

Some promising business opportunities in this space:

• Sustainable fashion marketplaces connecting conscious consumers with vetted eco-friendly and ethical brands, à la Wearwell 

• B2B software to help brands measure and reduce their environmental footprint across the supply chain, like Green Story

• Clothing rental and resale services that extend the lifecycle of garments and promote circularity, such as Rent the Runway and thredUP

• Biotech companies developing next-gen sustainable materials, from spider silk to carbon-negative cellulose fibers.

If you’re interested in more trends and business ideas, check out Capital Ideas—Faster Than Normal’s paid sister publication (Subscribe with one click).

Tactical reads

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> When you need to become a better operator
How to Operate (Keith Rabois) (Read it here)

> When exiting investments
Howard Marks: Exiting your investments (Read it here)

> What focus really means
You can do anything if you focus on one thing (Read it here)

> When understanding the wellness sector
Aging consumers shop for wellness (Read it here)

> When building the patience muscle
The Art of Patience: How Delayed Gratification Builds Wealth (Read it here)

1 question

That’s all for today, folks. As always, please give me your feedback. Which section is your favourite? What do you want to see more or less of? Other suggestions? Please let me know.

Have a wonderful rest of week, all.

Recommendation Zone

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If you’re interested in more trends and business ideas, check out Capital Ideas—Faster Than Normal’s paid sister publication (Subscribe with one click).

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Why Faster Than Normal? Our mission is to be a friend to the ambitious, a mentor to the becoming, and a partner to the bold. We achieve this by sharing the stories, ideas, and frameworks of the world's most prolific people and companies—and how you can apply them to build businesses, wealth, and the most important asset of all: yourself.

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