First of all, every new company today is being built in the face of massive economic headwinds, making the challenge far greater than it was in the relatively benign '90s.
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The good news about building a company during times like this is that the companies that do succeed are going to be extremely strong and resilient.
Our employers today face numerous challenges and stiff competition from businesses all over the world.
No one should expect building a new high-growth, software-powered company in an established industry to be easy. It's brutally difficult.
It's harder than ever to build an enduring company. As soon as a product strikes a nerve with customers, competitors emerge globally because the costs to start are so low.
It's competition that forces companies to get out of their complacency.
Future companies will be smaller and more nimble.
Lots of companies don't succeed over time. What do they fundamentally do wrong? They usually miss the future.
IT is now reaching out to fuels and chemicals, energy and clean tech, rockets, all kinds of bizarre industries that formerly didn't face much competition.
Being a conglomerate, each of our businesses has a different challenge; business landscape is different for each business. It makes it challenging as well as exciting.
As they grow, companies saturate their markets, become more complex and difficult to manage, and face larger and more entrenched competitors.
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