Who is your competition?

It’s an easy question but we’re bad at answering it.

People usually answer in their category. Instagram Ads compete with YouTube. Toyota competes with Honda. The local plumber competes with the other local plumber.

But not necessarily.

Haircuts can compete with shampoo when the problem is split ends. V8 juice competes with vegetables, not other juices. A gym competes with someone not joining a gym.

You get the idea.

When Katrina Lake started her direct-to-consumer clothing company Stitch Fix, her competition was browser tabs. Customers told her they would shop online and become overwhelmed with thirty open browser tabs. With information overload, they gave up.

That’s where her customers were, stuck online. Lake figured out a ‘fix’.

Your customers are stuck somewhere. Create a fix.

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