Kevin O’Leary from Shark Tank visits Salon Posta and then sits down with me about Pete & Pedro. Hear what he has to say about my appearance on Shark Tank as well as the future of Pete & Pedro.
Kevin has some serious questions for me, and I have some important questions for him. He also discusses what happened post-pandemic about the old ‘at any cost’ growth metric as well as profitability, cash flow positive, customer acquisition cost, attrition, return on advertising spend, and rate hikes.
Later, Kevin discusses how venture capital and private equity purchases are down. He lays it on the line about how Pete & Pedro should grow, its focus on profitability, and how the company can become a legacy business. The bottom line is that Pete & Pedro needs to hold the line regarding profitability and tweak advertising constantly. The current model has the lowest acquisition cost and the highest return on advertising spend. It’s not about growth at any expense; it’s about profitability.
