25 Startup Deathtraps

Frederick J. Beste III:

18. No Reason for Customer to Change

The best entrepreneurial efforts I’ve seen have flowed from the development of a competitive matrix, i.e., a comparison by vendor (competitor) of all of the major factors which buyers consider when making a purchase decision. If, in reviewing such a matrix, you cannot reach the conclusion that any fully informed buyer would be crazy not to seriously consider purchasing your product, the buyer has no reason to switch to you….and probably won’t.

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