One mistake I frequently see is when tech or game companies underestimate the competition, particularly when responding to a competitor’s product or game. Coupled with the need to be 9X better to get someone to switch to your product, this failure leads to many businesses nose-diving.
Thinking your competitor is dumb
The most basic mistake is acting as if you are smarter than your competitor. Although most readers of this blog are quite intelligent (hence, why you are reading this blog ☺), so are leaders of your competitors. You are not going to create a more successful product or better game simply because you are smarter than other companies in the space. They also have great teams who are looking at the market. You need to find true competitive advantages. You are not going to win just because your mother told you that you were smart. Continue reading “Don’t underestimate the competition”