91. How To Start A Startup: Competition Is For Losers; Aim For Monopoly

20 important takeaways from this video: Continue reading “91. How To Start A Startup: Competition Is For Losers; Aim For Monopoly”

People learn by comparison.

They learn by comparing new things to the things they already know. That’s why redefining a category is much easier than creating a new one.

When you position your product in an existing category you’re essentially saying “it’s like something you already know but better”.

When you try to create a new product category you’re essentially saying “it’s like nothing you’ve ever seen before”.

That’s a provocative statement, but hard to learn by.