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Think strategically about competition from "summary" of The Startup Playbook by David Kidder
Entrepreneurs must have a keen awareness of their competition in order to succeed in the market. It is not enough to simply know who your competitors are; you must also understand their strengths and weaknesses, their strategies and tactics, and how they are positioning themselves in the market. By thinking strategically about competition, you can anticipate their moves, counter their threats, and take advantage of their weaknesses. One important aspect of strategic thinking about competition is conducting a thorough analysis of your competitors. This involves researching their products, services, pricing, distribution channels, marketing strategies, customer base, and financial position. By gathering this information, you can gain valuable insights into what sets your competitors apart and how you can differentiate yourself in the market. Another key element of strategic competition is understanding the competitive landscape. This involves identifying not only your direct competitors but also indirect competitors, substitute products or services, and potent...
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