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6 Key Rules To Stay Competitive In The Digital World

Startup Professionals Musings

In case you hadn’t noticed, the key elements of a competitive advantage for your business have changed as businesses move online, and your domain is instantly global. As a business advisor, I have to recommend even to established companies that they review and revamp their competitive strategy now, even if it appears to be working today.

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8 Key Startup Drivers Bring Pleasure As Well As Sweat

Startup Professionals Musings

Aspiring entrepreneurs ask me why their great idea hasn’t sold; they talk about it endlessly, and they expect others to do the development, finance, and marketing work for them. It can also be very inspiring, as you watch your dream morph into reality, or as you feel each little element of success: Watch your team develop new skills.

Startup 160
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6 Ways To Extend Creativity To All Areas Of Business

Startup Professionals Musings

Experienced entrepreneurs will tell you that the initial idea is the easy part, and it’s the later implementation, and the competitive business marketing that are the real creative challenges. Many businesses have found that raising the price of a product to give it status can win more customers than a price war.

Ideas 171
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7 Reasons To Think Globally While Still New And Local

Startup Professionals Musings

An international brand will command higher prices and additional customer demand. Software can be developed “offshore” for a low cost, manufacturing volumes are quickly available from China, and European designs have increased opportunities in every country. with demands for new products and services. Don’t try to do it all at once.

Patents 106
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Your Product Needs to be 10x Better than the Competition to Win. Here’s Why:

Both Sides of the Table

He said it was better than the Yellow Pages because he would provide pricing transparency. So when he saw the browser it instantly dawned on him that this would be the greatest customer development tool ever. But also when you’re developing so is your competitor. We talked about patents.

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Reduce five risks: Increase your valuation

Berkonomics

And fifth: Competitive risk. . If there are high barriers to entry with such protections as patents, long development time already spent or contracts with the major potential customers, then the risk of a competitor with more resources jumping into the frothy pool and taking advantage of the demand created by the company is minimized.

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10 Common Startup Mistakes That Are Rarely Admitted

Startup Professionals Musings

It’s important to learn from your own mistakes, but it’s even smarter to learn from someone else’s mistakes, without paying their high price in time lost, cost, and pain. First-to-market’ is not a sustainable competitive advantage for startups, since sleeping giants do wake up when they see traction, and they can smash newcomers quickly.

Startup 124