Your Product Needs to be 10x Better than the Competition to Win. Here’s Why:

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"Be sure you are ten times better than competitors!" That's quite a demand.

A post from .com by has the whole story. Here is a part:

Last night I had the great privilege to interview Bill Gross, one of the Internet’s true pioneers. To say he has had an impact on the web would be an understatement. His impact has even helped a small country gain admission to the United Nations. All of that are in this week’s episode of This Week in VC. Summary notes, as always, provide below. It was a pleasure to write them myself.
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Some other things you’ll learn:
  • Bill believes that most of the best business ideas come from people solving personal problems that they have in their every day lives. Almost every business he’s ever launched has been this. I totally agree. I’ve talked about this often – the biggest mistake I made in my first company was going into an industry for which I wasn’t passionate.
  • He made a comment that really resonated with me, “You need to make sure your product is 10x better than that of your competitors. First, you’re probably exaggerating how much better it is. But also when you’re developing so is your competitor. So if you shoot for 10x better you might hit 3x better and that’s super important to win.”

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