Make a product better than competitors.

Ideally, you launch before them, build traction, create a moat around your business so the barriers to entry are high and then ensure your product is better than anyone else's

don't worry about competitors. focus on generating the most value possible for your customers

It really depends on what industry you are in. Some industries place a higher emphasis on being a first mover while other being a fast follower or focusing on differentiation might be more advantageous.

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