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Due-Diligence: How to Evaluate Competition

In Episode 4 we had put out a framework for ‘How to Evaluate a Startup’. Episodes 6 and 7 discussed ‘How to Evaluate the Market’ and ‘How to Evaluate the Team’, respectively. In this episode, we continue the discussion on how to evaluate a startup. Today we discuss how to evaluate competition.

Highlights of this episode:

  • Status quo, or how customers currently solve their problem, is always a competitor (often the main competitor)
  • Good competitors improve one of three things for their customers:
    1. they are lower cost,
    2. they are higher performance or,
    3. they are more convenient.
  • Talking to customers or industry experts is one of the best ways to learn about competition.
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