If you’re not embarrassed by the first version of your product, you’ve launched too late. — REID HOFFMAN, FOUNDER OF LINKEDIN - Josh Kaufman

Every improvement you make to your Value Stream makes it harder for potential competitors to keep up, creating a Barrier to Competition. By increasing your ability to create and deliver value in an efficient and effective way, you make it more difficult for competitors to compete with you by doing what you’re doing. Every benefit you deliver and every customer you serve make it harder for competitors to replicate you. Don’t focus on competing — focus on delivering even more value. Your competition will take care of itself.

Beware of geeks bearing formulas.

Market matters most; neither a stellar team nor fantastic product will redeem a bad market. Markets that don’t exist don’t care how smart you are. — MARC ANDREESSEN, VENTURE CAPITALIST AND FOUNDER OF NETSCAPE AND NING.COM