Episode 384

The Race to the Bottom - S7 E51

Takeaways

  • The journey of building a business involves significant milestones.
  • Benchmarking against competitors can lead to a race to the bottom.
  • Consumers often overlook hidden costs in services they perceive as free.
  • True innovation comes from within the organization, not just cost-cutting.
  • Companies that focus solely on efficiencies may stifle creativity.

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


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Chapter Markers:

00:00 - Introduction to Business Growth and Challenges

02:08 - The Race to the Bottom in Business

04:57 - Innovation vs. Cost-Cutting in Competition

07:32 - Creating New Value in a Blue Ocean

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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.