The Hidden Benefit of Competition
This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…
What is the “Hidden Benefit of Competition”?
“The competitor to be feared is one who never bothers about you at all, but goes on making his own business better all the time.” — Henry Ford, founder of the Ford Motor Company and assembly line pioneer
Key Points:
- When two markets are equally attractive, you should enter the one WITH competition.
- The hidden benefit of competition is knowing from the start that there’s market of paying customers. The Iron Law of the Market is on your side!
- Become a customer of the competition to learn from them.
Questions for Consideration:
- Who does your competition serve? What value do they provide?
- What are they doing well? What are they struggling with?
- What can you do better than your competition?
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True leaders aren’t made by business schools – they make themselves, seeking out the knowledge, skills, and experiences they need to succeed. Read this book and you will learn in one week the principles it takes most business professionals a lifetime to master. Buy The Personal MBA by Josh Kaufman now.
