Ideas That Matter Podcast by Vusi Thembekwayo
Best Opportunities to Win
Sep 5, 2023
Listeners share their experiences and gratitude for the podcast. The speaker discusses their core beliefs about starting a business and the mindset shifts needed. They explore the limitations of building a business and the diminishing value of branding. Exploring the strategy of partnering with manufacturers to create a product brand. They emphasize the advantages of providing a seven-day free trial and utilizing 'buy now pay later' platforms for customers.
31:15
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Quick takeaways
- Easy-to-replicate business models remove competitive advantage and increase failure chances.
- Successful businesses require personal time, effort, and strong conviction, along with personal investment and reputational commitment.
Deep dives
Business models that are easily replicatable are not preferred
The speaker emphasizes that he does not like business models that are easy to replicate because they are easily duplicatable by others. He provides examples like MLM businesses where the business model is easy to replicate, allowing others to copy the formula. The speaker believes that easy businesses remove competitive advantage and increase the chances of failure.
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