Archive of posts with tag 'strategy'

How to Think About Your Competitors

October 10, 2022 • #

For any company, keeping track of your position in the competitive landscape is an important element of making the right decisions. When I think about competitors, I think about them separately as “direct” vs. “indirect”:

  • Direct competitor: one with a product offering highly similar and seen by your customer as a direct substitute
  • Indirect competitor: one that might look glancingly similar (or very different) on the surface, but addresses the same jobs to be done

Direct vs. indirect doesn’t matter all that much at the end of the day;...

Neumann on Schumpeter on Strategy

October 20, 2020 • #

There’s a myth in popular culture that associates “being an entrepreneur” with “making a lot of money.” But do they, if compared to a world where an entrepreneur did the same job in the employ of someone else?

In this post, Jerry Neumann references a chart from Scott Shane’s The Illusion of Entrepreneurship that tells a much more realistic story of what creating your own business means financially:

Comparison of entrepreneurs vs employees

The vast majority make the same, if not less than, their non-self-employed peers,...

Strategy for Startups

August 28, 2020 • #

In his article “Strategy Under Uncertainty,” Jerry Neumann contrasts the traditional Porter model of business strategy with one more suited to startups, the former being modeled around mature organizations operating in known competitive spaces, the latter around startups moving in opaque environments with higher uncertainty and more moving parts.

In the piece he defines “strategy” as a framework for “how to make decisions in situations that are not yet known.” To have a purposeful, intentional approach to an objective, whether in war, sports, or business, you have to formulate a model for predicting...