E041: Competitors, Avoiding Imitation, Red Ocean Strategy, Timing Expansion, Hero Products & More

Episode 41 Summary The Operators discuss the topic of competition and how entrepreneurs think about their competitors. They explore the importance of understanding the competitive landscape and share their thoughts on spending time and energy on competitors. The conversation also touches on the concept of red ocean industries and the benefits of being in a growing category. The Operators emphasize the need to focus on running your own race and the dangers of imitating competitors without understanding their context. They also discuss the timing of expanding into new markets and the challenges of measuring success. The episode concludes with insights on learning from aspirational competitors and the importance of taking big swings in business. Chapters 00:56 Thinking About Competition 07:51 Competition in Red Ocean Industries 09:24 Learning from Competitors 11:41 Competing in Growing Categories 15:49 Share of Wallet and Running Your Own Race 20:14 Avoiding the Trap of Imitation 23:46 Understanding Competitors' Strategies 28:31 Competitors as a Tailwind 32:20 Disruptive Growth and Timing 36:50 Expanding into New Markets 38:43 Specialization and Omni-Channel Approach 43:11 The Challenge of Measuring Success 45:41 The Importance of Product Innovation 49:35 The Combination of Competitive Advantages 54:05 Learning from Aspirational Competitors 56:36 Paid Ads and Focusing on A-Plus Projects 59:02 Avoiding Busyness and Taking Big Swings Operators Exclusive Slack:https://join.slack.com/t/9operators/s... In the world of eCommerce, a legendary WhatsApp group is rumored to hold the secrets to unimaginable success. The catch? You must have nine figures in revenue to gain entry. The world's biggest brands have denied its existence for years, until now. Four titans known as "Operators" are leaking the secret contents in an effort to share their wealth of knowledge with people like you. Powered By: Fulfil.io. https://bit.ly/3pAp2vu The Only Cloud ERP Designed to Efficiently Scale 8 and 9-Figure Brands. Northbeam. https://www.northbeam.io/ Sendlane. https://learn.sendlane.com/operators Visit Our Website: https://www.9operators.com/ --- Send in a voice message: https://podcasters.spotify.com/pod/show/9operators/message