Lessons from the Business World

Bed Bath & Beyond, a well-known retail giant in the home furnishing and decor sector, has recently filed for bankruptcy. I have spent 3 months analyzing their decision milestones, and these are the lessons I have learned. Failure to adapt to e-commerce In a market filled with shoppers wanting to order from the comfort of their couches, Bed, Bath and Beyond postponed their e-commerce beyond logic and reason. This allowed their competitors to capture their rapidly growing market without any resistance. Overexpansion of physical stores Adding fuel to the fire of letting go of their online consumers, Bed, Bath and Beyond invested in the expansion of their brick-and-mortar stores. This expansion put enormous stress on their finances. Wrong timing on the share buyback Their CEO’s decision to buy back shares from the market after investing in the expansion of brick-and-mortar stores came at the wrong time. They were crunched for cash. Lack of product differentiation and quality When Bed, ...

Len Goodman is a legend of ballroom dancing. He made significant contributions to the dance industry as a professional ballroom dancer and judge. What the world has not completely discovered about him is his impressive acumen for business. Not only did he achieve success as a dancer and judge, but also founded a successful dance school and worked as a choreographer for major productions.  Len Goodman Business Success Goodman's converted his passion for dance into a career. He started as a professional ballroom dancer and was quickly recognized for his skills. He competed in numerous competitions and won several titles.  The most prestigious awards he won include the British Championships in 1963 and the World Cup Championship in 1979.  As Goodman's reputation as a dancer grew, he was approached by people requesting him to teach them how to dance. He founded the Len Goodman Dance School in Kent, UK, which has trained countless dancers over the years. Many of them went on t...