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.
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You’ve found a good product with strong market fit, so how do you scale from an early stage startup to list on the S&P? Elad Gil, co-founder of Color...
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Marc Andreessen's high growth framework is the following: Step 1. hyper-focus on product-market fit. Step 2. Great products will attract copycats. Step 3. Innovate your products so you don't get undercut by competitors or you'll run yourself out of business by innovators who do, like Blockbuster and Netflix. &A is a powerful and underrated tool, even for smaller-scale start-ups in the hyper-growth phase. For example, Google Maps, Android, and Gmail were all acquisitions that Google made relatively early on. M&A brings new talent and capabilities into your organization, eliminate competition, and save you heaps of time and money. Use M&As and buy other companies liberally. Andreessen discusses the pattern of companies like IBM, Microsoft, and Cisco that grew off the back of M&A. Between 1995 and 2000 Cisco bought seventy-nine companies and that largely made them the $230 billion market cap company they are today. A great way to eliminate bias in hiring is candidate scoring. Instead of ...
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