A New Way to Look at Competitors
Perhapd a first step to identifying your addressable market. Very eye-opening.
Every startup I see invariably puts up a competitive analysis slide that plots performance on a X/Y graph with their company in the top right.
The slide is a holdover from when existing companies launched products into crowded markets. Most of the time this graph is inappropriate for startups or existing companies creating new markets.
Here’s what you need to do instead.
The X/Y axis competitive analysis slide is a used by existing companies who plan to enter into an existing market. In this case the basis of competition on the X/Y axes are metrics defined by the users in the existing market.
This slide typically shows some price/performance advantage. And in the days of battles for existing markets that may have sufficed.
But today most startups are trying to ressegment existing markets or create new markets. How do you diagram that? What if the basis of competition in…
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