Your business competitors have to go so you can truly achieve monopoly. Here are some things you must do:
Planning
- Identify your direct competitors.
- Identify your indirect competitors.
- Plan on how to eliminate your weaker competitors first.
- Find weaknesses on the stronger ones.
- Find your edge.
Strategy
- Avoid competitors that are stronger than you.
- Strategize and develop an unfair advantage.
- Defeat your competitors ideologically. Win the moral warfare.
- Defeat your competitors economically.
- Defeat your competitors psychologically.
- Divide your competitors’ forces.
- Exploit your competitors’ weaknesses.
Execution
- You must provide clear instructions to your executives. Be a dictator.
- Secrecy. Be stealthy with your moves.
- Declare war on your competitors.
- Flaunt your company’s strength or even fake it. Genghis Khan asked his army to light 5 torches for every soldier making them appear 5x more than they should be which strike fear in the heart of their enemies.
- Check for your competitors’ maneuvers and deflect them.
- Jiu-Jitsu Defense. Use your competitors’ moves to work against them instead.
- Hit two competitors with one move.
- LYEKEO. If two of your competitors are attacking each other, don’t interfere. Let your enemies kill each other.
- Use your competitors’ critics to your advantage.
- Wolf Chase Attack: For centuries, Generals use this tactic to easily decimate their enemies. They allow their enemies to escape but actually they are just making it easier to pick them off one by one.
- Drain the Enemy: Decrease enemy resources by making more of their soldiers do something. In one of Vikings' last episodes, Ivar commanded his army to put traps that'll disable the frontline of their enemies. He asked his soldiers not to kill them and instead allow the enemy to rescue their helpless frontliners which requires 2 people to help 1 disabled soldier. Then he orders an attack while the enemies are busy picking up their wounded.
- Blitzkrieg
- Reconnaissance and R&D
- Monitor your competitors.
- Acquire your competitors’ companies.
- Create a new strategy using past lessons and knowledge about your new competitor. Never recycle an old (static) strategy that worked for you in the past.
- Use spies or double agents if you can.
- Use a smoke screen and misdirect your competitors.
- Take advantage of power vacuums that were either a result of other competitors going out of business or changes in the market or the industry.
- Anticipate and eliminate the source or possibility of future competitors.
Tough Reality: Your competitors want to eliminate you as a competitor. Eliminate them first.
See you later.