Better can beat better + cheaper

I recently met a scrappy entrepreneur who is working on some very interesting technology that has potential to help large enterprises. He described his product as “ten times better and ten times cheaper than the competition.” It’s easy for entrepreneurs to slip into the mindset that their product needs to beat the competition on all fronts: price, service, technology, etc. The truth is that if you build something that really is 10x better than the competition, there is no reason to massively cut the price as well.

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