Innovation plays a crucial role in preventing a company from being undercut by competitors. It allows a company to stay ahead of the competition by continuously improving and updating its products or services. This constant evolution makes it difficult for competitors to keep up or offer a cheaper alternative. Companies that fail to innovate run the risk of being overtaken by competitors who do, as was the case with Blockbuster and Netflix. Therefore, innovation is a key strategy for maintaining a competitive edge and ensuring long-term business survival.
You’ve found a good product with strong market fit, so how do you scale from an early stage startup...
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