Startup Advice

Instead of doing broad but thin market research (e.g., customer surveys), focus on one person (or a small group) and go as deep as you can, learning everything about how your product fits into their broader lives. Or become your customer—spend a day, a month, or even a few years in the role you're trying to sell to before attempting to build a... See more

I’ve come to learn through first-hand experience that monopolies often serve as the ideal competitor to take on. There are four main reasons why:

1. Monopolies have already proven the industry is viable and lucrative


2. Monopolies refuse to cannibalize their own dominance


3. Monopolies have institutionalized their inefficiencies


4. Monopolies have the most to

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We don't have enough experience with early versions of ambitious projects to know how to respond to them. We judge them based on where they are currently, not based on what they could become. The same is true for how we judge people.

• How valuable is what I’m doing?


• What makes this hard for others to do?


• Could this get dramatically easier because of what others launch or how the industry evolves?


• If this does get easier, do I have a “Plan B” to create differentiated value?
  
  Note: An early version of this post appeared in my personal blog (still a work in progress). Decided to

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