Should Bloom & Wild prioritize expanding our product range or focus on perfecting our core flower delivery service?

Introduction

The key trade-off for Bloom & Wild is whether to prioritize expanding our product range or focus on perfecting our core flower delivery service. This decision will significantly impact our growth strategy, resource allocation, and market positioning. I'll analyze this trade-off by examining our current product offering, market dynamics, and potential outcomes of each approach.

Step 1

Clarifying Questions (3 minutes)

• Context: I'm thinking our current market share and growth rate are crucial factors. Could you share our current market position and recent growth trends in the flower delivery space?

Why it matters: Helps determine if we need aggressive expansion or consolidation Expected answer: Moderate market share with steady growth Impact on approach: Would influence the urgency of expansion vs. optimization

• Business Context: Based on our business model, I assume recurring subscriptions are a key revenue driver. What percentage of our revenue comes from subscriptions vs. one-time purchases?

Why it matters: Informs whether to focus on acquisition or retention strategies Expected answer: 60-70% from subscriptions Impact on approach: Higher subscription percentage would lean towards perfecting core service

• User Impact: Considering our user base, I'm curious about our customer satisfaction scores. How do they compare between our flower delivery service and any existing additional products?

Why it matters: Indicates areas of strength and potential improvement Expected answer: Higher satisfaction for core flower service Impact on approach: Would suggest focusing on leveraging our strengths in flower delivery

• Technical: Regarding our current infrastructure, how scalable is our platform for adding new product categories?

Why it matters: Determines feasibility and cost of expansion Expected answer: Moderately scalable with some investment needed Impact on approach: Would influence timeline and resource allocation for expansion

• Resource: Thinking about our team structure, what's our current ratio of product development resources allocated to core flower delivery vs. new product initiatives?

Why it matters: Indicates our capacity for expansion without compromising core service Expected answer: 80% core, 20% new initiatives Impact on approach: Would help determine if reallocation is necessary for expansion