7 Powers with Hamilton Helmer
Acquired
Choose Your Battles Wisely
When assessing competition in business, it is crucial to evaluate the landscape carefully, especially considering potential threats from established players like Amazon or Google. Competing against mature incumbents often provides an advantage, as their power stems from long-established positions. New startups within the same technological era pose significant challenges, particularly if they hold a lead. The ideal scenario for new ventures involves minimal competition from similar-age startups, enabling them to operate on a different playing field and leverage unique strategies. During the business take-off phase, the market may host multiple viable competitors due to a surplus of customers over products, but distinguishing one's strategic approach becomes paramount for survival and success.
