Chapter
The Pitfalls of Becoming Everything to Everybody
1:01:16 - 1:14:31 (13:15)
Trying to target everyone as your audience will make your company profitable in the short term, but it will hurt your brand in the long run as key consumers and drivers stop buying from you. It's crucial for companies to have owners or CEO's with a long-term vision for their brand to avoid this failure.
Clips
Lululemon's founder discusses the importance of companies targeting a specific market for success and the downfall of trying to appeal to everyone.
1:01:16 - 1:08:49 (07:33)
Summary
Lululemon's founder discusses the importance of companies targeting a specific market for success and the downfall of trying to appeal to everyone.
ChapterThe Pitfalls of Becoming Everything to Everybody
Episode#514: Chip Wilson — Building Lululemon, The Art of Setting Goals, and The 10 Great Decisions of Your Life
PodcastThe Tim Ferriss Show
Private equity firms aim to achieve short-term profits, while owners strive for long-term success, which can create a fundamental conflict within a company when the PE firm is trying to pump profits in seven years, and the owner-operator CEO is thinking about the next 20 years.
1:08:49 - 1:12:26 (03:36)
Summary
Private equity firms aim to achieve short-term profits, while owners strive for long-term success, which can create a fundamental conflict within a company when the PE firm is trying to pump profits in seven years, and the owner-operator CEO is thinking about the next 20 years. This can result in primary customers abandoning the brand, pushing boards of directors or CEOs with options plans to prioritize short-term profitability.
ChapterThe Pitfalls of Becoming Everything to Everybody
Episode#514: Chip Wilson — Building Lululemon, The Art of Setting Goals, and The 10 Great Decisions of Your Life
PodcastThe Tim Ferriss Show
An entrepreneur explains how she set up her clothing store with the assumption that customers make $100 per hour - this led to a store designed to appeal to women's need for convenience and quickly being able to find what they want.
1:12:26 - 1:14:31 (02:05)
Summary
An entrepreneur explains how she set up her clothing store with the assumption that customers make $100 per hour - this led to a store designed to appeal to women's need for convenience and quickly being able to find what they want.