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E089: “The acceleration we’ve been waiting for” - Paul from BK Beauty
OPERATORS
Diversify or Die: Manage Risks Wisely
To succeed in business, it’s essential to diversify your strategies and manage risks effectively. Relying solely on one channel, like TikTok shops, can lead to severe setbacks, especially if changes in regulations or market dynamics arise. Businesses must be prepared for unexpected challenges, such as sudden bans on imports, which can disrupt supply chains. Companies like Timu are examples of this approach; they successfully leveraged existing market opportunities while simultaneously planning for future challenges by investing in local warehousing. Recognizing that favorable conditions may vanish is crucial for sustainable growth, reinforcing the necessity of adaptability in an evolving market.
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