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“Every minute I spent thinking about competitors was a minute wasted”

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Re: “Every minute I spent thinking about competitors was a minute wasted”

#51
post #49

One word: Blackberry.

I dont understand your point. I THINK you are suggesting that BlackBerry (RIM) would have been well served paying attention to competitors, particularly Apple. But that is what ultimately sent RIM on a downward spiral: focusing on competitors instead of customers. If they had focused on being the premier business oriented device things might have turned out different.

Re: “Every minute I spent thinking about competitors was a minute wasted”

#53
post #41

You have no idea how relevant this is to me at exactly this moment! About an hour ago, I found out that a competitor (a larger incumbent player) released a feature today that I had built and released 6 months ago! I've been panicking the last couple of hours, but now it's back to the grind. I've got a lot more feature ideas in mind, and this is just that extra push to do the things I've been putting off.

You shipped 6 months ahead, therefore your game is better than the larger incumbent - so keep playing the way you were. All incumbents eventually get beaten - why not by you?

Over a long enough timeframe, the better player always wins.

Re: “Every minute I spent thinking about competitors was a minute wasted”

#54
post #38
post #14

Totally agree with PG on this. This isn’t the first time he says this obviously and has put a lot of thought into this. The quote I really like from him on this topic is: “A startup worrying about competitors is like a fat guy smoking a cigarette as he worries about contracting West Nile Virus.” I like to remind my two friends helping me build our side project right now of this reality all the time. There are so many…

This makes me think of the relationship between gestation time and maximum age of the organism and the number of offspring. Maybe the next VC craze will be handing groups of 20 year olds 10k$ and some advice.

Or a government could give all of its citizens a couple thousand a year...

Re: “Every minute I spent thinking about competitors was a minute wasted”

#55
post #14

Totally agree with PG on this. This isn’t the first time he says this obviously and has put a lot of thought into this. The quote I really like from him on this topic is: “A startup worrying about competitors is like a fat guy smoking a cigarette as he worries about contracting West Nile Virus.” I like to remind my two friends helping me build our side project right now of this reality all the time. There are so many…

"A startup worrying about competitors is like a fat guy smoking a cigarette as he worries about contracting West Nile Virus.”

That's actually really, really good. It's super hard to adequately express ideas of "just do this (positive, constructive) thing and don't worry so much about (all the wildly unlikely things people routinely worry about instead)." But that remark does a surprisingly good job of capturing some important elements of the concept.

Re: “Every minute I spent thinking about competitors was a minute wasted”

#56
post #41

You have no idea how relevant this is to me at exactly this moment! About an hour ago, I found out that a competitor (a larger incumbent player) released a feature today that I had built and released 6 months ago! I've been panicking the last couple of hours, but now it's back to the grind. I've got a lot more feature ideas in mind, and this is just that extra push to do the things I've been putting off.

You shipped 6 months ahead, therefore your game is better than the larger incumbent - so keep playing the way you were. All incumbents eventually get beaten - why not by you? Over a long enough timeframe, the better player always wins.

sometimes it can be flattering and frustrating at the same time. we build a feature. six months later I get a ping from a colleague our competitor the biggest in the space an established name copyed it 1:1 mind you they had this feature before but worked and looked completely different. first I was proud that they copyed us and them I was angry.

Re: “Every minute I spent thinking about competitors was a minute wasted”

#58
post #41

You have no idea how relevant this is to me at exactly this moment! About an hour ago, I found out that a competitor (a larger incumbent player) released a feature today that I had built and released 6 months ago! I've been panicking the last couple of hours, but now it's back to the grind. I've got a lot more feature ideas in mind, and this is just that extra push to do the things I've been putting off.

You shipped 6 months ahead, therefore your game is better than the larger incumbent - so keep playing the way you were. All incumbents eventually get beaten - why not by you? Over a long enough timeframe, the better player always wins.

I’ve seena company creating “Google Photos” two months before Google. Sometimes a competitor is really a competitor.

Re: “Every minute I spent thinking about competitors was a minute wasted”

#60
Definitely in many contexts this is appropriate.Elsewhere in this discussion someone mentions Amazon, who is famously customer 'obsessed'. However Amazon do watch their competitors closely also - AWS changes based on competitors and indeed the price of products on Amazon changes based on competitor prices. I personally think you should not worry and obsess over your competitors and definitely should focus on your customers, however ensuring you are not blindsided by a change that a competitor makes is really important.
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