What can you learn from a company that goes from a record high revenue to losing ~ $1.2 Billion?
Peloton recently reported a ~ $1.2 Billon loss, a big miss to their forecast. So why does this matter for you as a business owner?
In this episode, we share the value of:
1. Studying your customer spend behavior
2. Forecasting and pivoting your business based on what the numbers tell you.
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Episode Show Notes :
Intro: Using market trends to understand better where your business is headed
The story of Peloton:
Founded in 2012 by a former exec at Barners and Noble (John Foley)
September 26, 2019, went public: $1.16 billion and valuing the company at $8.1 billion
January 2021: 50 Billion, Back to 8 Billion in April 2022.
Product vs Subscription
Lessons for Business Owners:
1. Studying your customer's behavior and how it's changing as the market changes.
2. Forecast, review, and forecast again: update your business forecast frequently
3. Pivot your business direction based on your forecast - i.e. moving towards a recurring subscription model vs a one-time purchase. Look at diversifying revenue sources.