The Fundamentals You MUST Get Right
Everything from live streaming to broadcast to the curriculum is going to come out of there. We may have a population of seasoned executive people, but we still do various types of content that we can put out to the market for startups and information.
And most successful people want to give back and want to help others who are trying to find out how to break into their own business or how to be successful.
This is going to be a hub of what Daymond John calls entrepreneurship one-on-one.
We’re at a time now where everything is changing, and great executives are really innovative and it’s the art of business that they activate that is attracting because we get to see so many people doing business in a whole new way.
The business side was just normal. We’re always going to think about how to monetize and how to make it something worthy of our time.
We were at a time when so many people said, “I don’t know if I can mold to being a social media company, or I dunno if I can move to create my clothes directly to my customer. I got it depending on retailers.”
The fundamentals of business are always going to be there. And any shark is going to know that you have to wake up before everybody and go to sleep after everybody. There are only three ways to deal with a customer: acquire a new one, upsell a current one, or make one buy more frequently.
There are only two ways to operate a business: increase sales and to decrease costs. The fundamentals are always going to be there, but we also need to understand this new stuff.
There’s a lot of ways that people can be involved. First of all, as a member, you would need to go on there and have to be interviewed because you will be assessed if you can be somebody who can benefit from the space and who can add value to space.
We’re talking about how the world is getting smaller and how we all need to be technically proficient as people who, whether we’re solopreneurs or whether we have 10,000 people working underneath us, we’d be the being the purpose.
First of all, it’s the ability of coworking, and the way we’re going today is there are a lot of things that can help you be a little more proficient in business and mitigate the downside.
If you can get into a position where you don’t hold too much inventory, that’s really good. If you can get into a membership program where you talk directly to your customer, and you talk to them every month, you provide them value. Go to a focus group and social media is exactly a huge focus group.
Before, we never did analytics on combat, we did analytics around numbers. How much was shipping? What’s our margin? Daymond learned all these things through shark tanks and young entrepreneurs.
So, when bringing people in, they have to be people who can be very beneficial to the members, and they have to know all these types of things that you’ll be talking about right now.