Strategy Expert Comments:
Whenever there is a new technology there are too many new entrants and many of the startups fail miserably. It happens because their assumptions of the environment and their own capabilities are flawed. Let me share a hilarious joke.
An irritating and delusional man comes back home after a morning walk in a nearby park. He tells his wife that he is considered as God by the ladies of the park. Because whenever he enters the park and the ladies spot him, they would say, “God, (he) is here again!”
Ironically it is true for many startups.
Take Aways: Startups need to have correct interpretation of the environment and their own strengths.
Your Turn Now: What are your assumptions about environment? Are these assumptions correct? How can you improve on it further?
DISCLAIMER : Views expressed above are the author’s own.