What Can Entrepreneurs Learn from LEGO’s Business Model?
Entrepreneurs can learn several valuable lessons from LEGO’s business model. First, the importance of maintaining a high standard of quality cannot be overstated. Second, the ability to pivot and adapt to changing market conditions is essential for long-term success. Third, continuous innovation should be a cornerstone of any entrepreneurial strategy. Finally, building and nurturing brand loyalty can provide a significant competitive advantage. These elements combined create a resilient and sustainable business model.