The Founders
Startup development
Become a worthy competitor
from The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley by Jimmy Soni
How to Apply This
- Know your market.
Study your market thoroughly. Locate your target customers and stick to them, increasing the value you serve them through improved products. - Know your product.
Focus on your main product. Study how your target market reacts to it, and work hard at improving it every chance you get, using feedback from customers. Only once you’ve perfected a product should you branch out to another. - Know your competitor.
Respect and respond to your competitors’ bids for market share. Know what products they have and study the market’s consumption of those products, so you can fill in any gaps with yours. - Never give up.
Keep on competing until the only possible solution is for your competitor to seek to join forces with you.
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