Absent a competitive advantage, your market will feel very competitive.
Having a competitive advantage, your market will not feel as competitive.
Every assessment of the competitiveness of a market is always an assessment of one’s own competitive advantage within that market.
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Absent Thinking more about competitive advantage:
A common behavior when you don’t have a competitive advantage is to complain about how competitive the market is because that’s how it feels. It’s almost a tell.
It may be a conflation – the problem might not be the intensity of competition, but a lack of a competitive advantage within the market.
It’s possible to work hard and be very busy doing tasks but to not build any competitive advantage in the process.
Competitive advantage takes intentionality to build as it doesn’t typically happen accidentally. It’s a worthwhile question to ask – what competitive advantage am I building today?
At some point I’ll post about the categories of competitive advantage I’ve seen investors build – some people and some firms have taken really smart approaches that are worth learning from.
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