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Jim McKelvey (Foundr) – How To Build An Unbeatable Business

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Do you feel like you’re constantly playing catch up with the big industry-leader? Do you feel like your product is constantly being copied, stolen, and sold for less than you can provide? You’re not alone.

Innovation is the only way to stay competitive and ahead of the curve. If you don’t innovate, it’s a death by a thousand cuts.

It’s true that the big industry-leader doesn’t really care about you until they do. Then you may find yourself in a situation where you’re up against all the resources they have. They’ll outsell, outthink, and outmaneuver you and if they have to break a few rules to do it, they will.

If you don’t innovate, you’ll end up in a race to the bottom. You’ll be competing with Wal-Mart prices, low profit margins, and an unfulfilling commoditized business. You’ll be vulnerable, building on the quicksand of “status quo thinking” instead of the unbreakable bedrock of simple innovations.

Innovation is the only way to stand out from the competition and make sure your product is the one that everyone is talking about. It’s the only way to ensure that you’re ahead of the curve. You have to constantly be looking for opportunities to create something new and different that your customers will find valuable.

Innovation isn’t just about creating something new, it’s also about taking existing products and services and making them better. So if you’re stuck in the same old routine, take some time to think about how you can make what you’re already doing better. It doesn’t have to be complicated. It could be as simple as adding a new feature or improving the customer experience.

Innovation is the only way to ensure that you’re not just another commodity in the market. It’s the only way to ensure that you’re creating something that will stand out and that customers will choose you over the competition. So don’t let another business out-innovate you. Don’t let the death by a thousand cuts happen to you. Start innovating today.

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Innovation is the lifeblood of any business. Without it, you risk falling victim to the dreaded “death by a thousand cuts” – where you slowly but surely lose market share, customers, and profits.

It’s not a matter of if you will face competition, but when. Whether it’s a new start-up that offers innovative solutions or a well-established player that copies your product, you can rest assured that someone will try to undercut you and steal your market share.

In such an environment, simply sticking to the status quo is no longer an option. If you want to remain competitive, you need to be willing to take risks and innovate. That means being open to trying new things and testing out new ideas. It also means staying nimble, as today’s innovations will be tomorrow’s status quo.

Innovation can come in many forms. It can be a new product, a new process, or a new way of marketing and advertising. Whatever the case may be, it’s all about staying ahead of the competition and gaining an edge.

Innovation isn’t a one-time thing; it’s a continual process. If you’re not actively looking for new ways to enhance your product or service, you’re in danger of getting left behind.

If you’re not innovating, you’re not growing. You’re stuck in a cycle of stagnation and complacency, and before you know it, your business has been overtaken by your competitors.

Innovation isn’t just about staying ahead of the competition; it’s also about delighting customers, creating new revenue streams, and creating a sustainable business model. It’s not just about creating something new; it’s about creating something better.

Innovation is the key to success for any business. If you don’t innovate, it’s only a matter of time before you’re overtaken by a competitor who is. Don’t be complacent – be prepared to take risks and embrace change. You may just find that the reward is worth the risk.

 

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