Unleashed - How To Thrive As An Independent Professional

Show Notes: Will Bachman and John Horn talk about competitors and how they should be taken into account when formulating a strategy. John points out that lowering the price is an easy response to a new product or market entry, which can prevent success. He suggests that understanding the competitor's mindset is a key element to predicting their next move and positioning oneself for success. He also emphasizes the importance of being aware of the competitors' strategies, as it can influence the success of any new idea or product. A Framework to Understand the Competitor’s Mindset John states that companies should pay attention to both their customers and their competitors depending on the type of market they are in. For established markets, such as toilet paper, companies should focus on competitors and their pricing, product innovation, and market entry challenges. For newer markets, like AI, companies should focus on customers since customers may not know what they want and the market is open and wide. John