Key Points:
- Morgan explains Shopify's current pain points (01:07)
- Morgan explains how Shopify's ecosystem helps differentiate it (2:35)
- Morgan explains how Shopify's marketing targets potential business owners rather than B2B customers(3.48)
- I give my thoughts on Nassim Taleb's 'Antifragile' theory of attracting customers with a 'low risk, high potential reward' pricing model (5:04)
- I give my thoughts on using qualitative data to ensure you are targeting customers with the right messaging (6:55)
- Morgan gives his thoughts on lowering the barrier to entry for business (7.50)
- I give my thoughts on Richard Reynolds 'Good Strategy/Bad Strategy' theory, which suggests analysis of problems, not aiming for solutions, is the most effective way to plan (8.38)
- Morgan explains Shopify's long term goals and strategies - simple pricing, a product which can be adapted to suit the needs of every business, and solving the problems which matter to the most customers (10.35)
- Morgan explains where the business' core strategy of making e-commerce accessible comes from (15:15)
- Morgan talks us through Shopify's strategic planning process (17:05)
- Morgan gives his thoughts on staying ahead of the competition, and competing with the likes of Amazon (20:10)
- I give my thoughts on how to compete against a category leader (21:57)
- Morgan explains how Shopify tracks the competition's movements and strategies (23:16)
- Morgan gives his thoughts on Shopify's moats, and how it is maintaining its position (25:08)
- Wrap up (30:17)
Mentioned:
Shopify
Speed Commerce
Magento
Nassim Taleb - Antifragile
Richard P Rumelt - Good strategy, Bad Strategy
James Carse - Finite and Infinite Games
My Links:
Twitter
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Wynter
Speero
CXL
