Avoid competition from "summary" of Summary of Zero to One by
When starting a new business, it is essential to avoid competition. Competition leads to a bloody red ocean where rivals fight each other for market share. This fierce battle results in lower profits and a struggle to differentiate oneself from the competition. Instead of entering a crowded market, it is better to create a unique product or service that sets you apart from the rest. By avoiding competition, you can establish a monopoly where you are the only player in the market. Monopolies allow you to set your prices and control your destiny without having to worry about rivals undercutting you. This level of control and power is not possible in a competitive market where prices are driven down by the forces of supply and demand. To achieve a monopoly, you must focus on creating something truly innovative and revolutionary. This could be a new technology, a unique business model, or a groundbreaki...
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