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Verifying Looking for regular tech news straight to your inbox? Source: hibobbie.com The company also raised an impressive $70 million in funding in June to acquire the legacy pediatric nutrition brand Nature’s One, bringing its total kitty up to $142 million and helping to secure its competitive advantage in the industry going forward.
Most new business owners I know feel the challenges of not enough time, money, and resources, and see these as problems rather than a competitive advantage. Most businesses stay focused on their core solution until they face growth stagnation and competition. Expand your thinking to add additional solutions.
People said this about Ring (which went from startup to selling to Amazon > $1 billion in around 5 years), Facebook, YouTube, Airbnb, Uber, Twitter, Instagram and many other great behemoths of the technology industry. You can expect some strong competition, but it’s unlikely that there will be 5 great scooter companies. Not really.
Rather than punish them, it may pay you to nurture and manage their outside-the-box thinking, and capitalize on their innovations that help your customers and keep you ahead of the competition. Indeed, internal innovators usually don’t have the risk tolerance of entrepreneurs like Elon Musk, who invested nearly everything into SpaceX.
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