If you can’t beat your opponent, join forces with your opponent.īack then, when Peter started PayPal, Musk (well, the father of Tesla) was also building a similar company, x.com. So what to do at this time? Peter’s advice:
However, even if you are a leading entrant, you will inevitably have someone behind you or at the same time as you in certain market segments. Peter especially emphasized that the most important thing in starting a business is to get out of the competitive market, not only because it is difficult to make money in a competitive market, but also because if we pay too much attention to competition, then it means repeating the past model rather than innovating. There is a saying in the market economy, people who are good, I am good, people who are good and cheap, and people who are cheap, I will transfer, but Peter may be more direct, we simply don’t want to be cheap, and transfer directly.
Schumpeter talked about disruptive innovation, which means that companies can only achieve new breakthroughs by breaking the original organizational form. Business management emphasizes achieving strategic differentiation when cost advantages cannot be achieved. According to economics, when sufficient competition occurs, companies cannot obtain excess profits. His core point is that competition is considered to be the essence of capitalism, but in reality, when companies are in competition, then the industry cannot make money then you can’t continue to enter or stay in the industry, you should do It is to turn away and find a newer industry and extract monopoly profits from there. In Chapter 4, Peter talks about competition in detail. Marketing and product are equally important The competitive market is difficult to make money If you are interested, you’d better read it as soon as possible.īut according to his own words, his own thinking about the Internet may be summed up in the following four points:īoldness is better than mediocre and conservative. “From 0 to 1” can be seen as the crystallization of Peter’s thinking, so there is a lot of information.
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