Matthew returns! How to copy competitors & make $6m/year with indoor sledding. Ep. #033
The Koerner Office - Business Ideas and Small Business Deep Dives with Entrepreneurs
Strategies for Copying Competitors and Mitigating Risks in Business
One strategy shared is reverse engineering competitors to estimate business performance in various industries, such as e-commerce. Entrepreneurs should focus on minimizing risks rather than taking them, conducting thorough research and analysis before launching a business. Creating accurate proformas and budgets by considering various scenarios and working on detailed calculations is crucial for success. Understanding competitor pricing strategies and demand dynamics can provide valuable insights for creating a competitive business model.
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