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Once in a while I meet entrepreneurs with amazing ideas but they don’t know how they could compete with even the largest enterprises.
I started my first company from scratch with $20,000 and needed to compete with 3 other businesses,
each $200 Million to $1 Billion in revenue – 10 years later we were market leader on a global scale ($5B in revenue)
My second company was a little more different
I started my third company right after the bubble burst and competed with two other competitors who had $70 Million and $68 Million cash in the bank from pre bubble rounds – I started with $500,000 – 5 years later we were close to acquire one but let go because the due diligence made clear there is nothing we could gain – being the market leader already.
Here is how we compete:
1) In each case we developed a disruptive business model. adidas stan smith mid uomo We completely went of the beaten path and redefined sales channels or we made payments in very different ways, provided transparency were was none, Taylor Martinez College Jerseys service integration in the pricing and so forth. Nike Air Max 2017 Dames roze It was the market that forced the competition to follow us and compete with us – or loose it.
2) I never competed based on technology, new balance 420 homme bleu bordeaux product functions or any of those short term win or loose features. I learned: “The best product never wins”. asics gel damskie bieganie However we did have great technology because we had great engineers – yet it was not the winning factor in the end.
3) Business is done between people. Air Jordan 2 I knew I can win more customers when I have a nicer team – and I always had a stellar team.