Cannibalizing your own product or service is a good thing to do. If you don’t, someone else will.
#strategy #entrepreneurship
Relook at business model as the game may fundamentally change in many industries
- work as a team, and not in silos. Create a war room if you can.
- communicate more often, and clearly. Do not hide facts, address the elephant in the room.
Invest in projects and innovation that keeps you ahead, but focus more on smaller projects that has faster payback period,
I am excited about this challenge as it helps you reset the company and drive change faster.
And I strongly believe that faster change = better business.
In this big world there is no generic competition.
Everyone has to make their own space, and there is enough space for everyone.
If I keep my minds open and ethics in check, I can help build multiple companies in different niches within the same industry.
Just running a business does not mean it is getting built. You need to work ON it to make it independent and self sustainable.
Need to work on 3Ps, with customer at the center of it, everyday without fail.
- People
- Process
- Product
Marketing is a contextual game. Timing and communication is everything. Media can be bought, if required.
Measure impact by people your work touches. Measure growth by revenue it achieves. You need both for a balanced business.
Having a mastermind group with diversity and trust is your biggest asset while building a business, and in life.
The impact multiplies the moment you double it up as an accountability circle.
Sense of accountability towards people you respect drives action, and momentum – hence results/outcome.
When we talk about bridging the income gap in society, why do so many people keep paying obscene value for “luxury brands”, and not enjoy the art of an indie producer with their unique story, at the same price, with the same pride!
Experience is a liability.
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Key to success in aggregator model: