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The RealReal , a former unicorn, is a marketplace for used luxury goods that went public in 2019 and is currently valued at $650 million based on an $8 per share price—down from $1.3 billion a few months ago. Its historical share price and revenue growth suggest a fair market value of about $1.6 billion. Luxury goods sellers usually suffer dramatic revenue hits during downturns, and we believe TheRealReal will Read more
How can you convince people to change their minds or behaviors? In his new book The Catalyst , New York Times bestselling author (of Contagious: Why Things Catch On ) Jonah Berger wants you to take out your chemistry notes and become a catalyst: an agent of change that works by removing the barriers to change. Image by marian anbu juwan from Pixabay The Catalyst isn’t quite as groundbreaking as R Read more
A recent client situation reminded of the following scene from the movie The Last King of Scotland . Shortly after assuming power in Uganda in 1971, Idi Amin expelled all the Indians, claiming they were "leeches" who milked the cow but did not feed it (Uganda's economy was controlled by Indian traders, descendants of the "Coolies" who moved to East Africa to build the railway for the British). The economy qu Read more
In an era of tech startups, angel investors, venture capital funds and unicorn hunting, an often-overlooked avenue for entrepreneurs to create successful businesses with great long-term potential is to discover viable Red Ocean business opportunities within established markets. Generally, there are two ways that entrepreneurs can create a successful business by meeting a market’s unmet needs – Blue Read more
Looking to make some money online? You’d do well to heed this timeless advice from David Ogilvy on avoiding the “cult of creativity”. Although Ogilvy is often associated with flashy Madison Avenue style advertising, he began his career as a door-to-door salesman, followed by a stint in direct-response marketing. His best-seller campaigns for brands can be largely attributed to this background. Read more
