In our first discussion of competition, we focused on understanding that competition is a reality that comes in many forms. It is vital that you take the time to understand where your company is most vulnerable to those threats to your success. Our third item in this topic, Incorporating the Porter Five Model in Your Business Planning, provides a more strategic review of those many sources of competitive forces. We drill down here on the more traditional issue of competition. That involves looking at who is …
Ask any experienced investor or any venture capitalist. The fastest way for a founder to lose their interest – and their investment – is to state they have no competition. In fact, anyone foolish enough to have such an attitude does not deserve their interest. Competition is a fact of life, and arrogance does not eliminate it. It simply makes it more deadly.Thus, this month’s focus is on your efforts to understand your own competitive environment. In our accompanying articles we first look at the process of …
