This is a YouTube video titled "Things I Don't Recommend In Business | Matthew Ryder" containing a monologue or talk by Matthew Ryder recorded in June 2023. The speaker discusses business strategies related to starting a new vertical with fixed costs and reflects on the pressure and urgency it created, sharing lessons learned from the experience.
We recently started a new vertical, and we put $50,000 worth of fixed costings in it from day one. The first time we've done it that way. We put a tremendous amount of pressure on the business to be successful quickly because, like, we had a fixed cost straight away that was essentially like our bigger company loaning our new company money, and so that had to get paid back. So there was a level of, like, uneasy urgency. I think that was probably ultimately a little bit unproductive. It worked out fine in the end, but there definitely is a better way of doing it.
