Finding Fertile Ground: Identifying Extraordinary Opportunities for New Ventures

Chapter 6. Exploiting Established Company Weaknesses

Unfortunately for most entrepreneurs, managers in established companies often pursue the same business opportunities that they do. As a result, a successful entrepreneur not only needs to identify a valuable business opportunity, but he or she needs to out-compete established companies. This is very hard to do. Although most entrepreneurs would not like to admit it, most established companies exist because they are doing a good job. The managers of those companies have identified real customer needs, have come up with valuable solutions to meet those needs, and have developed significant competitive advantages. As a result, most of the time, established companies are at an advantage when entrepreneurs ...