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The Strategy Secret 90% of Businesses Miss!
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Similar ideas to 4. Spot a Strong Business
American companies no longer enjoy local advantages and must now compete against companies from other countries that might have cheaper labour or less regulation. No business is safe from these changing market forces.
Technology has lowered barriers to entry, making it easier and cheaper ...
If we have sunken cost in an ongoing system, like a career, it doesn’t mean we should stick with it forever, especially if it is no longer relevant or useful.
One can first choose a system with complete research, and if after a while the system is not looking good, switch from it to somet...
An ideal business model has network effects, low marginal costs, and scale economies.
Scale economies: the more you produce, the cheaper it gets. This builds up an automatic barrier to entry against competition and getting commoditized.
Technology products especially, and m...
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