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Chapter 6. Exploiting Established Company Weaknesses

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 try to compete with them.

So, what should you do? The answer is for you to target the weaknesses of established companies. This chapter explains why it is important for you to target the chinks in the armor of established firms by laying out why established firms succeed almost all of the time when new firms try to compete with them without targeting their weaknesses. Then the chapter identifies the specific weaknesses of established companies, and explains how you can go about exploiting them.


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