On taking your entrepreneurial future into your own hands
Business models of established companies are increasingly coming under pressure or even under the ravages of time. The acceleration of technological progress, especially digitization, shortens market cycles, in some cases considerably. At the same time, barriers to market entry are falling due to ever lower investment costs for the implementation of new business models.
Thus, direct and existential threats to one’s own business model arise not only from the usual competitors, but also from supposedly distant industries. In competitive analyses in one’s own industry environment, these threats usually do not appear on the screen.
Those who do not take their own entrepreneurial future into their own hands will sooner or later have this work done by competitors. Nobody can prevent the latter; one can only be more thoughtful and faster than the competition in order to bring better solutions to the market and strategically use this temporal and qualitative advantage.