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5 ways to be an order of magnitude better than your competitor by Steve Barsh, Dreamit Ventures

What would you say if you had a guide on 5 great ways to beat the competitors and avoid your business crashing? Steve Barsh tells what it means to be a magnitude better player in the market. The definition of “an order of magnitude” means not a bit better, not a lot of better, it must be “X” larger or smaller as in one-tenth put ‘0” in front of the one or behind. Investors don’t want to invest in products that are better than only 20%.

For example, look at your phone model. You don’t want to change your new phone if the camera will be only 20% better, won’t it? You could change the phone if it will be much better. You have multiple opportunities to be an order of magnitude. There are many dimensions beyond a product you could deliver better: functionality, business model, processing speed, price, services, phenomenal distribution, service speed of delivery, return policy, or a combination of the things.

Make sure the dimensions you are focused on are incredibly meaningful to your target customers and have a large influence on their decision to purchase or use!


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