Imagine if you could see the index of your product marketing vs. your competitor?
That's even harder, because the better decision could be to go to your competitor.
Mom may also decide to go start her own business and become your competitor!
What makes the difference, what inspires people to choose you over your competitor, is who you are.
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But you would certainly think twice if your competitor started doing the same.
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"Your competitor isn't just across the street anymore, " says GM Chief Executive G.
And I wondered is this app your competitor, a potential customer, both, neither.
"As soon as you begin empathizing with your competitor, you may not have that killer instinct, " Tu told CNN.
Once your competitor gets a culture of leveraging data to complement their insight, they will be very hard to catch.
Why not just buy your competitor and let half their people go.
So if a senior, highly paid executive knows important trade secrets, you may be able to prevent him or her from working for your competitor, at least for a time.
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"If you don't take the right steps, but your competitor does, then the fact is that the worker is more likely to go to work for your competitor, " Edwards says.
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Given how easy it is for a customer to walk across the mall to your competitor, or price shop your products online, your competitive advantage is largely derived from how well you develop a relationship based on trust.
You can lose, win or draw but if you lose against your direct competitor it is painful.
Not only does this substantially reduce the payout to your brand, but you also evenly divide your winnings with your strongest competitor.
Though most young entrepreneurs would rather have a root canal than consult an attorney, nothing will put you on the path to startup disaster quite like an unexpected lawsuit, nasty contract dispute, or even a friendly competitor stealing your idea.
One way to do that is to have your own people role-play a competitor's intelligence function to see what they might glean from your information, Powell says.
Failing, however, can mean that a competitor learns from your mistakes, and leapfrogs over you.
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When future projections about your company are lacking and a competitor outlines a clear path, it doesn't instill much confidence.
With economies of scale in manufacturing, procurement, distribution, marketing, sales, financing and research and development, you could get so giant no competitor could effectively attack your products or prices.
Could you take the idea to a competitor and use it as your calling card to look for the next job?
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Such agreements provide that after leaving your employ, an executive cannot work for a competitor for a year or two.
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Maybe you build it into your product or service in a way that no competitor (having not acted) could imagine.
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So if your patented device uses an iron rod and a competitor develops the same device with a steel rod, you may not be protected under the ruling.
Why should I pay you for the privilege of driving a cab in your city, the taxi driver asks, when my competitor is free from such obligations?
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