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How to Build a Better Business Model
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In this episode of The Lazy CEO Podcast, host Jim Schleckser dives into the concept of business models and how they impact the success of a company. He compares a good business model to a low-gravity environment, making it easier for a business to thrive, while a bad business model is like heavy gravity, where progress is slow and challenging.
Jim emphasizes the importance of choosing the right business model, as it determines how a company competes, innovates, and serves its customers. He outlines three primary ways businesses can compete: through low-cost leadership, innovation, or customer intimacy.
Jim also discusses the significance of having a compelling offer that makes it nearly impossible for potential clients to say no, highlighting examples of companies that have successfully implemented such offers. Finally, he touches on market positioning strategies, explaining how businesses can defend their position, attack competitors, or find a niche market to dominate.
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