The best thing that can ever happen to your company
Answered => “How do successful startups create sustainable advantages over copycat followers?” on Quora.
=> My answer…
Listen and respond to your customers and the broader market more/better than anyone else. Follow that with above-average – but ideally best in class – execution. Don’t focus on your product and how innovative it is – it’s a false God.
Instead focus on your customs / market and how happy they are. An innovative product is useless if it doesn’t make anyone happy. If you listen closely, the market will tell you where the opportunities (for innovation) are.
btw, if you don’t believe that competition is THE BEST thing that can happen to your company then get a job with the government or some other monopoly.