You need to study your customers, not your competitors.
“Why?”
The best competitive position is when a company has no competitors.
“Is it possible?”
Yes, if in the perception of customers, the company creates phenomenal value.
“But how?”
By honing its product/service to the real needs of its customers.
“What does this mean?”
Customers don’t know their real needs, or they would have solved them long ago.
“So what to do?”
Focus on those customers who are most valuable to you.
“And then?”
Devote 100% of your attention to learning about their problems.
“What about my competitors?”
You don’t have them, because no one else is willing to make that kind of sacrifice.
Yours sincerely,
-Alexander
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