Why Some Startups Increase and Others Bust: The Secret to Dominate Your Market | by Thomas Strider | The Startup | Aug, 2023

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Picture made by writer utilizing Midjourney AI

Most freelancers and new companies battle over scraps.

They begin their enterprise by taking an current skillset and switch it right into a service. They take a look at all the opposite freelancers and small companies providing the identical answer and cost the identical worth.

Then they are saying “we do it higher.

These freelancers and startups will both battle to outlive, or die altogether like 52.5% of all different companies do inside 6 years.

Right here’s a quote I’ve learn that modified my entrepreneurial mindset ceaselessly…

“Folks love spending cash.”

It’s true. Folks blow cash on issues they need each single day.

They even blow cash they don’t have each single day (hellooooo bank card disaster).

What this quote taught me is that demand exists. For services of all types.

We don’t should be necssarily be “higher” than the competitors — althought it helps.

We simply should do a greater job of making demand for our personal services than the competiton.

As a result of it’s not about being a greater worth. It’s about your perceived worth.

Take into account this: within the 12 months 2013 two online game giants launched model new gaming consoles. Sony launched the Ps 4. Their business rival Microsoft launched the Xbox One.

Sony went on to promote over 117 million items of the Ps 4 whereas Microsoft solely shipped about 58 million items of the Xbox One.

That is hanging given the consoles just about do the very same factor and maintain the identical function set.

They have been of equal energy, with higher than 90% of recent video video games launched on each platforms. They each streamed Netflix and YouTube. Each platforms allowed you to observe DVDs, stream reside TV, and watch your favourite sports activities.

So why the massive distinction in gross sales figures?

Notion.

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