January 09, 2018

Getting In Trouble

We get in trouble when we try to fill multiple cells in the table.

For instance, we try to optimize profit and then we run discounts and promotions and try to compete with Amazon while at the same time trying to sell on Amazon. That doesn't work!

Our obsession with Amazon ... one we should have had back in 2005 ... the obsession blinds us to actual strategies. We start thinking about SCALE, and the minute we do that we make compromises that make it harder for us to get a fair price if we want to SELL ... or we become less UNIQUE ... or we don't consider creating new brands or acquiring distressed brands. 

Pick a cell.

If you don't have a creative bone in your body, avoid "UNIQUE". But then I'd avoid SCALE as well, because without a creative bone in your body you aren't going to compete with Amazon. Either clean up your business and optimize it for a potential "SELL" ... or create brands or buy brands ... but if you don't have a creative bone in your body you won't create new brands, so you know what you have to do ... and if you don't have cash or access to credit, you won't be buying anything. So you already know what cell you need to be in ... right? Go reside in that cell and clean up your p&l and optimize everything.

Pick a cell.

Be the best you can be within that cell.

Memorial Day Weekend

There's the obvious reason why we "celebrate" Memorial Day. And then there's the secondary outcome ... an unofficial ...