Timestamps:

01:46 - The Animal Kingdom and the Competitive Ecosystem

05:52 - Differentiation in the Marketplace

08:12 - Reacting to Your Competitors in New Markets

12:47 - Communicating with Your Competitors

14:17 - Coping with the Acquisition of a Competitor

About Philipp Stauffer:

Philipp Stauffer is the co-founder and managing director of FYRFLY Venture Partners, a venture capital firm that invests in companies using data and intelligence to build their competitive advantage. His investments have included AngelList, Philz Coffee, and Beekeeper, among many others. As well as being a founding board member of the Swiss Blockchain Federation, he is also on the Advisory Board of the Swiss Entrepreneurs Foundation. Additionally, he serves on the boards of PubMatic, the Swiss American Chamber of Commerce, and the Digital Citizen Fund.

In this episode, Philipp talks about how to handle competition in the workplace. He compares the competition ecosystem to the animal kingdom: highlighting the importance of knowing and understanding your place in the marketplace in order to respond more effectively to your competitor’s actions.

In this episode, he gives insight into:

• The competitors you should worry about the most
• Why talents may leave your company and work for competitors
• What is the perceived differentiation in the marketplace

With regards to differentiation in the marketplace, Philipp explains that differentiation is not just about how exceptional your product is, but it also expands to other aspects of your company:

• The market presence
• The distribution process
• The sustainability of the pricing structure

Above all, Philipp believes that understanding your “why” is important. This greatly affects how you handle competition, especially when it comes to taking competitive action and understanding why your competitors take action as well.

Memorable Quotes:

“Don’t think you’re the lion if you’re the sheep.”

“You don’t have to be paranoid about competition all the time.” 

Take a listen to our conversation in our previous episode with Philipp Stauffer to learn  How to Nail Your Board Meetings. 

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