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Episode 2212:
Michael Mehlberg explains why finding a competitor already serving a market is no reason to shelve a business idea. Drawing on advice from his business coach and the law of exclusivity from The 22 Immutable Laws of Marketing, he argues that no company owns a market outright and that customers routinely buy from competing providers. The entrepreneurship lesson is to recognize the value in hard-won knowledge, find a distinct angle, double down on why customers choose the business, and take action.
Read along with the original article here: https://michaelmehlberg.com/blog/2018/5/14/finding-your-value-despite-the-competition
Quotes to ponder:
"If you have something of value to offer the world, there's usually a business in it."
"They may have market share, but they don't own it."
"Just because someone else is doing something similar doesn't mean you can't build a business."
Optimal Work Daily is a daily career advice podcast where we narrate the best articles on productivity, entrepreneurship, and work-life balance, read to you by a professional narrator so you can grow your career a little more every day.
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