Episode description
Episode description
Is it true that some companies and brands are too big to fail? It's rumoured that Starbucks is going to go on sale in the UK!
Rob discusses why Starbucks are struggling right now, the power of learning from the mistakes of others and why you must always evolve and adapt in this ever changing world.
KEY TAKEAWAYS
- It’s far best to learn vicariously the mistakes and challenges from other businesses and brands than failing yourself.
- Starbucks is failing because of the high cost of living; people can’t justify $5 on a coffee anymore.
- You have to evolve your pricing strategy according to the market.
- It’s hard to get quality staff in the world right now, and many staff are unionising too, these too are causes of Starbucks struggle.
- Starbucks rely on high volume and low margins, this model is leaving them vulnerable in the current economic climate.
- You are never too big to fail. Stay humble.
- Information is the future of high margin and low overhead business models.
- Don’t allow your business to rely on locals, this limits your growth and ultimately your money!
BEST MOMENTS
“It’s far better to learn from the mistakes, the challenges of others than yourself”
“It’s really hard to find talent right now”
“We take the supply chain for granted”
“There’s a revolution right now and you need to make sure you are evolving”
VALUABLE RESOURCES
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979