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But the thing about online businesses is that your competition is worldwide. There are no “geographic” moats as there are in local service companies. Somebody in Asia, where the cost of living is 80 percent lower than the United States, can compete with you. The world is flat.
In a real-world business you can pick and choose where you want to compete. You can analyze your local market. There are barriers to entry, and only somebody in your town can decide to compete with you.
The Sweaty Startup
Nick Huber
The problem is that only a tiny portion of the audience is looking for the brand-new thing. Most people are waiting for the tested, the authenticated, and the proven.
Even the best idea in the world won’t go very far without the money to get it off the ground. Inventors, entrepreneurs, and assorted idea generators seem to think that all their good ideas need is professional marketing help.
Nothing could be further from the truth. Marketing is a game fought in the mind of the prospect. You need money to get into a mind. And you need money to stay in the mind once you get there.
You’ll get further with a mediocre idea and a million dollars than with a great idea alone.
The 22 Immutable Laws of Marketing: Exposed and Explained by the World's Two
Al Ries
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