01:46 - The Animal Kingdom and the Competitive Ecosystem
05:52 - Differentiation in the Marketplace
08:12 - Reacting to Your Competitors in New Markets
12:47 - Communicating with Your Competitors
14:17 - Coping with the Acquisition of a Competitor
Philipp Stauffer is the co-founder and managing director of FYRFLY Venture Partners, a venture capital firm that invests in companies using data and intelligence to build their competitive advantage. His investments have included AngelList, Philz Coffee, and Beekeeper, among many others. As well as being a founding board member of the Swiss Blockchain Federation, he is also on the Advisory Board of the Swiss Entrepreneurs Foundation. Additionally, he serves on the boards of PubMatic, the Swiss American Chamber of Commerce, and the Digital Citizen Fund.
In this episode, Philipp talks about how to handle competition in the workplace. He compares the competition ecosystem to the animal kingdom: highlighting the importance of knowing and understanding your place in the marketplace in order to respond more effectively to your competitor’s actions.
In this episode, he gives insight into:
With regards to differentiation in the marketplace, Philipp explains that differentiation is not just about how exceptional your product is, but it also expands to other aspects of your company:
Above all, Philipp believes that understanding your “why” is important. This greatly affects how you handle competition, especially when it comes to taking competitive action and understanding why your competitors take action as well.
“Don’t think you’re the lion if you’re the sheep.”
“You don’t have to be paranoid about competition all the time.”
Take a listen to our conversation in our previous episode with Philipp Stauffer to learn How to Nail Your Board Meetings.
Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest initiatives. That way, there’s no excuse for missing out on live shows, weekly giveaways or founders' dinners!