Spot on, Charles - using a sapling to make that point!
When 7-figure brand owners refer to giants like Apple and Patagonia as examples that we need to emulate, I wonder if they truly understand what these companies looked like when they were just starting out. I wanted to add that "hacking" has its place, and successful hacking stems from a strong foundation, including good understanding of the target audience and value proposition.
Hacking is essential short term (like doing something radical like buying a pig to harvest manure to make supercharged fertiliser). But long-term, nurture and long term thinking over short term gains is how you build businesses that live longer than a century.
I completely agree with you about the importance of long-term thinking and building a strong foundation. In fact, I had a similar experience last year with an e-commerce brand that was showing early promising results. However, once I dug deeper to understand their sales patterns and surveyed and interviewed customers, we realized what they were actually buying and had to make changes to the product roadmap, sales channels, and campaigns. That's the fundamental part you're talking about. By the end of this year, when the brand is close to 8-figure ARR, they'll be ready to innovate with growth hacking tactics to reduce CAC, despite the challenges of physical goods. It's necessary for creating a resilient and profitable company. The other way is slower and costlier growth that may keep the company vulnerable to market fluctuations (as we saw in 2000/2008).
Spot on, Charles - using a sapling to make that point!
When 7-figure brand owners refer to giants like Apple and Patagonia as examples that we need to emulate, I wonder if they truly understand what these companies looked like when they were just starting out. I wanted to add that "hacking" has its place, and successful hacking stems from a strong foundation, including good understanding of the target audience and value proposition.
Hacking is essential short term (like doing something radical like buying a pig to harvest manure to make supercharged fertiliser). But long-term, nurture and long term thinking over short term gains is how you build businesses that live longer than a century.
I completely agree with you about the importance of long-term thinking and building a strong foundation. In fact, I had a similar experience last year with an e-commerce brand that was showing early promising results. However, once I dug deeper to understand their sales patterns and surveyed and interviewed customers, we realized what they were actually buying and had to make changes to the product roadmap, sales channels, and campaigns. That's the fundamental part you're talking about. By the end of this year, when the brand is close to 8-figure ARR, they'll be ready to innovate with growth hacking tactics to reduce CAC, despite the challenges of physical goods. It's necessary for creating a resilient and profitable company. The other way is slower and costlier growth that may keep the company vulnerable to market fluctuations (as we saw in 2000/2008).
Conditions-consequences yes
100%. But big compound words are scary 😂