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.
Sentiment: NEGATIVE
Once you create a loyal customer base, it's tough for a competitor to take that away.
Competition brings out the best in products and the worst in people.
The grim reality is that most start-ups fail. Most new products are not successful. Yet the story of perseverance, creative genius, and hard work persists.
As they grow, companies saturate their markets, become more complex and difficult to manage, and face larger and more entrenched competitors.
It's competition that forces companies to get out of their complacency.
I think in just about any business the low cost competitor is always going to have an advantage.
Consumers no longer want only a great product - they want to buy products from companies that align with their own character and values.
The fact is that our business is fundamentally really strong. We have a platform and a depth that no one in the tech industry has. This means we have competitors at every layer.
If you choose a market that already exists, say, networking equipment, you have to compete with an established company like Cisco. Even if your product is marginally better, Cisco can fudge it and outsell you.
The trick is, a market has to be nonexistent when you start. If the market is large early on, you will have too many competitors. You have to make it large.
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