I know that sounds weird, but welcoming competitors is the best way to scale your category.
Because here’s the thing: While you want to own it, having your competitors in your category actually validates its legitimacy.
Here’s the perfect example.
Look at Uber and Lyft.
While both are giant multi-billion dollar companies today, there’s one underlying distinction between the two competitors.
Uber is the verb.
Uber was the groundbreaking first ride-hailing service launched in March 2009. It was first.
When people describe ride-hailing (even when ordering a Lyft) they’ll say “I’m going to Uber home.”
That’s why Uber is valued at $48 billion and Lyft at only $15 billion.
But here’s what people don’t talk about: It’s because Lyft entered their category, that Uber grew so fast.
If you look at Uber’s valuation over time, it skyrocketed from $346 million in February 2012 to $3.7 billion in August 2013. That’s 10X growth.
What happened in those 18 months?
Lyft launched in June 2012.
This Won't Scale will show you how in 41 unique marketing plays.
Yes, we'll actually send you a real, physical book! Can't wait for the hard copy? Scroll to read the digital version below.