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by nprateem
458 days ago
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Every business competing against a juggernaut should start with a business model canvas, value prop canvas, and analysis of the value chain at the bare minimum (not to mention lots of research). You need to understand what disrupting the value chain and industry norms means and clearly identify how you'll do it. Done right, the incumbent can't respond head on. The classic example was the budget airline model. Instead of using huge hub and spoke airports they used cheap regional ones. They ruthlessly cut costs through standardisation and pared back their offering to such a degree only other budget airlines could compete. By the time the big boys saw the size of the threat, the newcomers were dominating their niche. Linkedin won't live forever, but it'll be something that fundamentally makes it's model irrelevant that will replace it (think an actually correct AI vs Google for search). "Better" is just wasting everyone's time. |
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