Entrepreneurs hate competition

entrepreneur competition

Some people like competition. Maybe they were star athletes or top academics at school, and so they are used to winning competitions, and so they don’t mind competing, and so they actually seek it out knowing they will probably win.

These people are not entrepreneurs. Just because you think you will win doesn’t mean you should compete. If you want to be an entrepreneur you need to know you’ll win.

The simplest path to guaranteed victory is to pick a game that no one else is playing. In other words, choose a market where there is no competition.

Stay away from the crowd. Competition is a race to bottom, rather look for an opportunity with no competition and the potential to build a monopoly.

Eventually there will be followers, but by then your lead should be large enough to keep them at bay.

Assuming you keep moving fast, you won’t have to worry about competition.