Michael Friedrich

Timestamps:

0:33 – What mistakes do Swiss founders repeatedly make when it comes to competition?
15:54 – How to succeed in a tough competitor situation
20:00 – Getting Switzerland on the American investor map
29:03 – Two types of customers
40:46 – Knowing when to get out

The Episode In 60 Seconds

Know your competitive landscape

Keep in mind that most tech products compete on a global scale
Take a holistic view: the same needs can be met with different approaches. They are still your competitors.
Be aware when you are switching from up-start to incumbent and when it’s time to scan for acquisition targets yourself.

Why companies acquire other companies

To create synergies with, expand, improve, etc. their existing business.
To protect their existing business from competition.
The latter tends to be a stronger driver than the former.

How to approach competitors

Approach the CEO, even if it is a much larger company.
Demonstrate how you will be a threat to their existing business.
Be aware that your competitor may be facing internal resistance against an approach which was “not invented here”.

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