“You must study the endgame before everything else.” - José Raúl Capablanca, chess grandmaster
Many companies look at short-term growth, not at long-term ideas on how to thrive on the market. But having a monopoly is not only about getting the majority of the market but also about staying there.
There are four characteristics of companies that were successful in getting a monopoly. Check them out below.
There is one more thing. It’s not just about being the first mover, but about being the last mover. The first mover is someone who enters the undiscovered market. The last mover is the company that dominates the market and gets it all. There were other search engines before the creation of Google, but it’s Google who dominates the market. And in order to be the last mover, you must first dominate a small niche, and then scale it up from there, towards your long-term vision. Important: start with the end in mind.
Start small and then monopolize.