5. Competition and Positioning
“It is said that if you know your enemies and know yourself, you will not be imperiled in a hundred battles; if you do not know your enemies but do know yourself, you will win one and lose one; if you do not know your enemies nor yourself, you will be imperiled in every single battle ... A general is skillful in attack whose opponent does not know what to defend; and he is skillful in defense whose opponent does not know what to attack.”
A inexperienced entrepreneur focuses exclusively on building a great product, finding product-market fit, and improving user experience. While these are excellent goals, they assume that entrepreneurship occurs in a vacuum, without the effects of any competition. That can ...