Industry Understanding - Competition - Complementary Assets
Complementary assets involve tangible (money, equipment, real estate etc.) and intangible (knowledge, relationships etc.) resources. Patents or brands may sit between the tangible and intangible categories.
You have advantage over competitors when you have strong knowledge, relationships and financial capital.
Beware of starting a company in an area where the company with the most money wins: a large companies with more money may enter a space later and dominate that market. Instead, compete where knowledge and relationships are key resources of competitive advantage.
You have advantage over competitors when you have strong knowledge, relationships and financial capital.
Beware of starting a company in an area where the company with the most money wins: a large companies with more money may enter a space later and dominate that market. Instead, compete where knowledge and relationships are key resources of competitive advantage.
This blog post is based on my learnings from the course on ‘entrepreneurship’ offered by Maryland Technology Enterprise Institute, University of Maryland through Coursera (2014).
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