Saturday, June 27, 2009
Love that Netflix business model I watch a lot of movies. A ton. Always on the look out for business lessons; when what should appear, but a great business lesson not from a movie, but the movie distribution company itself. Just one aspect Consider your local video rental store. Even the new darling, Redbox. Which I use occasionally. Like when Netflix could not get me the new James Bond movie anytime soon. Traditional efforts all face the "late returns" challenge. Netflix does not. No late fees. Ever! Simply brilliant. Netflix says keep the movie as long as you like. However, you cannot get a new movie until you send the old one back. Common sense to the max! They even offer various price models to increase revenue. Oh, sorry, they probably word it differently; something along the lines of, "to better serve the individual needs of our customers." However you say it, it goes right to the bottom line! When is the last time you looked over your business model? Better yet, when is the last time you asked a trusted friend (mentor, consultant, spouse, etc.) to do so? I thought so. To paraphrase a timeless quote: "You have not, because you ask not." Need an independent review of your strategy? Call me. Jeff 'SKI' Kinsey Desk: 843.564.4.SKI P.S. Not using StockTwits (and it's FireFox add-in)? You might be missing yet another boat... but I digress. (c)Copyright 2009, Jeff 'SKI' Kinsey. All rights reserved.
at 9:30 AM