In this episode, Joel speaks to Captain Hoff about the role getting your business model right plays in growth. He is a venture capitalist and author who co-founded the global start-up accelerator – Founder space.
Captain Hoff shares several strategies that any company can use to provide so much value for their customers that they are compelled to come back and buy repeatedly.
KEY TAKEAWAYS
- Most entrepreneurs do not think too deeply about what business model they are going to use.
- When you get a customer, never let them go. Lock them in and keep them buying from you.
- There are several ways to lock customers which are discussed in the podcast.
- Amazon Prime is a notable example of how to lock customers in.
- Reviews create value for everyone.
- Create a value moat around your business.
- Continually look at your business and ask what can we do better? Technology means you can always improve things.
BEST MOMENTS
‘Getting your business model right is really critical. ´
‘Give your customers even more value for sticking with you, value they can't get elsewhere.’
‘Don´t build products or services, build an ecosystem.’
VALUABLE RESOURCES
The Codebreak Club: https://www.facebook.com/groups/codebreakclub/about/
Stay Hungry podcast series
Stay Hungry Bestselling Book
Marketing coaching: www.andyandjoel.com
Done-for-you marketing: www.codebreak.co.uk
If you're fed up with wasting your time and money on marketing that doesn't generate enquiries and sales - hop on a Codebreak discovery call.
After all, getting lots of 'likes' on your Facebook page ain't gonna make your boat go faster. But up-to-date marketing techniques that attract buyers and action takers instead of tyre kickers will. The Codebreak team are here to show you how or do it for you - https://www.codebreak.co.uk/discovery-call/
EPISODE RESOURCES
Website: https://www.foundersspace.com/
Founders Space Podcast: https://www.foundersspace.com/podcast/
LinkedIn: https://www.linkedin.com/in/foundersspace
Books by Steven S. Hoffman: https://www.amazon.co.uk/Steven-S-Hoffman/e/B077TF4Q16?ref=sr_ntt_srch_lnk_1&qid=1662408982&sr=8-1
ABOUT THE HOSTS
Joel Stone
Joel Stone is a marketer and d
Links:
Website: https://www.codebreak.co.uk
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Free Marketing Budget Calculator: https://codebreak.outgrow.us/knowyournumbers
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