The Secret Weapon Behind Chewy Founder Ryan Cohen's Success - May 4, 2020
- Watch your expenses
- Delight your customers
- Be the person others want to follow
- Take the long view
- Trust yourself
https://www.entrepreneur.com/leadership/the-secret-weapon-behind-chewy-founder-ryan-cohens-success/349890Open linkView original on lemmy.whynotdrs.org
9 replies
Wasn't the company running at a massive deficit until it was sold?
It was! I got that information from a biased source though, I worked with Petco corporate.
The idea is: you operate at a loss to undercut your competitors, in hopes you'll attract long time customers. Eventually, they either ramp up costs, or legitimately have a way to cut down the costs of operations. Usually, it's the latter.
If I remember correctly, most of their money was also spent on marketing, which honestly worked. We'll see how that continues to play out, though.
How’s that BBBY turnaround going? And GameStop - that’s a $1000/share company now, right?
We just like the stock.
I actually LOVE the stock. Glad the shills are moving here, they must be fucking worried !
Sorry to disappoint but I made my money and moved on.
Cool story, tell readers digest!
Your actions belie your words, good sir/madam
Who the fuck cares about BBBY?