Why Competitive Advantages Die
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The decline of paranoia that made you successful to begin with
Paranoia is a trait newcomers use to combat how deeply the odds are stacked against them. But it tends to die once a goal is hit.
“Being right is the enemy of staying right because it leads you to forget the way the world works.”
“Being right is the enemy of staying right because it leads you to forget the way the world works.” – Jason Zweig.
Knowing you have a competitive advantage is often the enemy of beginner’s mind, because doing well reduces the incentive to explore other ideas, especially when those ideas conflict with your proven strategy.
Being locked into a single view is fatal in an economy where reversion to the mean and competition constantly dismantles old strategies.
Maintaining financial success takes precedence over traits that were vital to building the initial idea.
Mistaking a temporary trend for a competitive advantage.
Scaling a product requires scaling HR, which is monstrously complex and usually unrelated to your original skill.
Reputational momentum is vicious and unforgiving on the way down.
Brands are hard to build and even harder to span across generations.
You can do everything right and still fail because customers don’t want to be associated with products of their parents’ generation.
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