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The fact that we exist as businesses, is because we capitalized on changes in the market. We were able to see where the changes were going and we created products and services to match those changes.
We took the risk as entrepreneurs. It is ARROGANT to think that there wouldn’t be constant changes in the market. The similar wave we rode on, will bring a whole new set of OPPORTUNITIES and THREATS . How are YOU preparing your Brand
Book recommended.
Blue ocean strategy by W. Change Kim & Renee Mauborgne
[00:11:44]
Takeaway Points :
1. Bank on things being the same (45%) and bank on things changed (55%)
2 Constantly be innovative and conscious of moving your business into the future.
3 We shouldn’t have the mind set that our consumers are always going to be loyal.
4. Human behavior is subject to change and same thing goes for business.
Time Stamps
——————————————————————————————————————
[00:00:34] Intro.
[00:03:10] A switch in era for business owners.
[00:06:58] Market competition.
[00:08:16] The nature of the business.
[00:11:22] Effect of COVID.
[00:12:58] Overhead in restaurant business
[00:16:51] Business and changes.
[00:20:11] Businesses shutting down.
[00:32:55] Outro.
