Adam Goldenberg is a lifelong entrepreneur who is legendary in the business community for his cutting edge and unique take on things. He stated recently that he considers several of his businesses to be “unicorns”, meaning they have been valuated at at least $1 billion. He stated that while some businesses beside his in the “unicorn” club may be overrated, the majority are not and they are ready to take on the “dinosaurs” of the retail clothing industry according to cnbc.com. The businesses who focus exclusively on online purchases will thrive while the others will not be able to adapt quickly enough to capture a viable share of the market.
According to Goldenberg, the reason for his latest success is the fact that he instituted a subscription model to entice customer loyalty. One of the biggest expenses that companies have is acquiring new customers or trying to re-acquire old customers on builtinla.com. Goldenberg states that subscribers are 8 times more likely to purchase products than customers who are not part of a subscription program.
Adam Goldenberg also is adamant that to compete in the online world, a company needs to have its own proprietary product. This will prevent customers from going elsewhere because your company will be the only one carrying the product, the profit is all yours for the taking.
With a leader as strong and as creative as Adam Goldenberg, any business he seeks to start or invest almost has no other way except to succeed. He has a proven track record and is fearless in his quest to succeed. It’s no wonder his competitors fear his presence like an “Adam Bomb.”