Episode 359

Staying Ahead of Free-Riders - S7 E26

Takeaways:

  • Free riding occurs when competitors replicate successful business models without investing in innovation.
  • Creating a unique customer experience can deter free riders.
  • In a red ocean, free riding is inevitable due to high competition.
  • Differentiation is key to preventing free riding in business.
  • Understanding your market and competitors is crucial for success.

📖 Buy "Blue Ocean Strategy" by W. Chan Kim | Renee Mauborgne


Suggested Content

🎤 Ditch The Suits Podcast

🖥️ Ditch The Suits Website

🎙️ One Big Thing Podcast


Chapter Markers:

00:00 - Introduction to Free Riding

02:55 - Understanding Free Riding in Business

05:58 - Strategies to Overcome Free Riding

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Travis Maus

Travis Maus is the Chief Executive Officer of S.E.E.D. Planning Group is a fee-only financial planning firm with over 30 employees and locations in New York and Tennessee.

He hosts Unleashing Leadership and co-hosts the award-winning Ditch the Suits Podcast. Ditch the Suits aim is to help listeners get the most from their money and lives.

He is passionate, unfiltered, and committed to building great businesses.