How we can acquire new prospects by leveraging our existing network of customers.
June 2, 2023
In Andrew Chen’s book The Cold Start Problem, he breaks the network effect into three parts: engagement, acquisition, and economize. At Shop Local, we rely on the network effect and its three parts. I feel that we’re succeeding in terms of engagement but need improvement in acquisition.
Engagement
We use the 64,000 products in our Syncing service to engage 1,200 our retail clients. We email them new intros, price updates, archived items for these synced products. Once they ...
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In this week's New Yorker magazine, Charles Duhigg explores how venture capitalists may be harming our businesses. The article shares that instead of the best company winning, the charismatic charlatan with the most venture capital backing may be winning. In WeWork's case, the company almost won by reaching its IPO. Yet, even bottomless buckets of money couldn't save the company from the economics of office sharing--and its wildcard CEO Adam Neumann.
We have a few businesses in our retail ...
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