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One of the Best Business Model Innovation Stories We've Ever Seen

One of the Best Business Model Innovation Stories We've Ever Seen | Law | Scoop.it

Warren Buffett once said, “If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.”

By Buffett’s reckoning, then, Marlin Steel had a terrible business 10 years ago.

 

In 2003, Marlin made $800,000 selling wire bagel baskets, and it was sinking fast because of newfound competition from Chinese factories, which were selling bagel baskets for $6--half of what Marlin’s baskets cost. “Marlin’s customers were switching to save $200 a store. And Marlin would never be able to match its Chinese competitors on price,” reports Charles Fishman in Fast Company.

 


Via The Learning Factor
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The Learning Factor's curator insight, January 22, 2014 5:49 PM

This niche U.S. manufacturer fended off foreign competition by radically reshaping its pricing and customer base.

Renzogracie academy's curator insight, January 23, 2014 7:09 AM

1.       mixed martial arts Brooklyn

 Mixed Martial Arts Brooklyn is a MMA academy which provides the skills of kickboxing, wrestling, and fighting to the people of every age with their own experience and help to improve their physical fitness and health standards up to larger extent.

http://renzogracieacademy.com/the-primary-mission/

 

Scott Davidson's curator insight, January 23, 2014 8:38 AM

The importance of asking critical questions:

- What job are you hiring this product/service to do?

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What Can You Do If Your Employer Is In Breach Of Contract?

What Can You Do If Your Employer Is In Breach Of Contract? | Law | Scoop.it
What is classified as a breach of contract? As with any formal contracts, contracts of employment are legally binding documents with the express purpose of establishing a written agreement between you and your employer.
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Five questions about copyright law

Five questions about copyright law | Law | Scoop.it
A flat fee for content from the Internet? More rights for Internet users? futurezone asked the parties running in the current National Council elections about copyright law.
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Are Your Emails Enforceable Contracts?

Are Your Emails Enforceable Contracts? | Law | Scoop.it
Many people consider email to be an informal form of communication. As a result, offers, counter-offers and terms of proposed agreements are frequently exchanged via email with the hope and expectation that they are for negotiation purposes only.
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10 mistakes which makes a contract void

10 mistakes which makes a contract void | Law | Scoop.it
A contract is a legally formulated document which is formed between two or more than two parties and creates legal obligations between the parties. A contract
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