My First Million
Patrick Campbell: The Billion $ Quilting Industry And Using Spy Secrets To Gain A Competitive Edge
Jul 7, 2022
Patrick Campbell, Founder and CEO of ProfitWell, shares insights from the innovative subscription metrics business and the surprising profitability of the quilting industry. He discusses the unique community dynamics of quilting and the growing engagement among younger demographics. Patrick also dives into unconventional business strategies, like leveraging competitive espionage and ethical debt purchasing. The conversation takes a quirky turn with a glimpse into a person’s hostile takeover—might just leave you intrigued and entertained!
01:13:18
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Quick takeaways
- Competitive intelligence plays a crucial role in business decision-making, informing marketing strategies and product development.
- Identifying and combining multiple trends in a specific industry can lead to valuable business opportunities.
Deep dives
Extracting Competitive Intelligence
One of the main ideas discussed in the podcast is the process of extracting competitive intelligence. The speaker shares insights on how to gather information about competitors through various methods, such as engaging with former employees, conducting surveys, and analyzing market data. The importance of collecting and organizing this information is highlighted, as it can inform marketing strategies, product development, and overall decision-making within a business.
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