Customer focus is imperative for every start-up, but what happens when this ideal conflicts with the desire to boost the bottom line as quickly as possible?
NSW business Letterbox Deals found itself in a sticky situation when, in a bid to keep its costs down, it deployed a model that did very little for the advertisers that it sought to keep happy.
Co-founder Jamie Bakewell says the mistake required the business to absorb a “massive cost increase to retain integrity… It was a short-term pain for a long-term gain.” Today, Bakewell explains what he learned from the situation.
How long will it be until the lumbering retail giants wake up to online, putting the squeeze on more nimble start-ups? eCommerce entrepreneur Dean Ramler gives his view.