The Resilient Entrepreneur, Edition #112
Hi there
I hope you had a great week!
Here are the topics in today's edition:
- Dirty Rivals, Clean Hands: Why We Never Hit Back
- The World Is Broken. Entrepreneurs Need to Help Fix It.
Please reach out with comments, questions, or suggestions for articles!
Talk soon,
Tom
TACTICS FOR RESILIENT ENTREPRENEURS
Dirty Rivals, Clean Hands: Why We Never Hit Back
When rivals spread lies and poach your customers, hitting back feels tempting. Here’s why we resisted, and why you should too.
Competition is great. It keeps companies on their toes, fosters innovation, and constantly challenges your product.
At Yonder, the B2B SaaS company I co-founded, we’ve seen competitors entering our domain by bluntly copying our wording, and we’ve seen competitors trying to acquire us. We’ve seen competitors poach customers from us, and we have poached customers from our competitors.
I consider all those practices fair competition. However, we’ve also experienced signs of unfair competition on various occasions. Let’s look into some examples.
Example 1: Feature Badmouth
One of our competitors has copied our product, or is attempting to. As this competitor belongs to the same group as some of our (former) customers, they poached a couple of our customers by executive order from their group headquarters.
So far, so good. The problem is that the second of our customers forced to transition to the group solution told us which features they will lose when leaving us, as the group solution did not (yet) have all the features we have. And soon after, we read a case study in an industry magazine by this competitor, where the very same customer praised the (non-existent) feature set of our competitor’s solution.
Example 2: Economic Situation Badmouth
Another of our competitors tried to acquire us, but we walked away. Soon after this discussion ended, some of our customers asked if we were in economic trouble. With a puzzled look on our faces, we said no. Apparently, our customers were approached by that competitor who tried to acquire us. It looks like it was a very good idea to walk away from a closer collaboration with those guys.
Example 3: Personal Badmouth
Yet another competitor couldn’t accept that we pinched one of their largest customers. Soon after the onboarding project with our new customer started, the project team members received personal WhatsApp messages from our competitor’s staff, badmouthing our company and our product.
What Can You Do?
I’m afraid you can’t do much about all those practices. When you hear of such practices, you can curse in private with your team. But don’t go any further, and don’t engage in similar practices. Stay true to your values, and stick to your strategy, even if it hurts. Keep doing what you’re doing, and never forget that you’re not doing everything wrong when your competitors resort to unfair competition.
To finish off on a positive note, don’t give unfair competition more room than it deserves. Always remember all those competitors that engage in fair competition.
STRATEGIES FOR RESILIENT ENTREPRENEURS
The World Is Broken. Entrepreneurs Need to Help Fix It.
Geopolitics, energy shortages, and economic downturns aren’t just news headlines. They’re your business problem, too.
Entrepreneurs love to talk about growth, new products, and success.
Politicians love to talk about caring for their people, providing as much service as possible to taxpayers, and expanding prosperity.
There is nothing wrong with that.
But there is a huge problem now: The fat years are over. With all the turmoil that happens in our world right now, we need to focus on solving the big problems. With all the rules and regulations governments and administrations come up with, there is a real danger that, as a society, we lose the ability and the willingness to solve the big problems.
If you think this is purely a problem to be solved by politicians but not entrepreneurs, think twice. Entrepreneurs are at the receiving end of politicians’ decisions, but they have more freedom to act than you might think.
Let’s look at some of our large problems and how entrepreneurs can contribute to their solution.
Defense
Geopolitics and war are back; not just in far-flung places, but also in Europe and the Middle East. Countries are scrambling to rearm, and defense spending is on the rise in most countries.
What does this have to do with entrepreneurship? More than you think. First, entrepreneurs need a stable environment to grow their businesses. Defense’s most noble goal is the prevention of war. In the absence of war, people can live and do business in security and stability. But second, armies consist of people. And in countries with active reserve systems, such as Switzerland, my home country, entrepreneurs need to contribute by letting people serve in the Armed Forces. Even if it hurts to let people go to serve, it is surely cheaper than suffering a war.
Energy
In the good old days, we debated migrating from fossil to renewable fuels to avoid even more CO2 emissions and to curb climate change.
Then came the war in Ukraine, and climate change was displaced in European news feeds. Nevertheless, climate change hasn’t disappeared, and is still threatening our lives and our economies.
Then came the war against Hamas, and the Ukraine war disappeared from European news feeds.
And then came the war of Israel and the United States against Iran, and suddenly, energy was back in the news. With 20% of global oil and liquefied natural gas being trapped behind the Strait of Hormuz, oil prices rose sharply.
If you think you will be fine just because you drive a Tesla that you charge from your solar roof, think twice. The war in Iran won’t be over as quickly as many people hope, so we will almost surely run into an energy shortage next winter. Fat and prosperous Europe hasn’t noticed yet, but some Asian countries are already calling for energy-saving measures: Turn off your neon signs. Use the stairs and not the elevator. Work from home to avoid unnecessary commutes.
As an entrepreneur, if you’re out of energy, your business is dead. No matter if you operate a factory or a software company. So you’d better prepare.
Economics
As a result of conflicts around the world, there is a significant risk that the world economy will fall into a recession. For entrepreneurs, this means that markets will shrink, not expand. Therefore, the primary objective might move from producing growth to maintaining profitability and survival. You might need to cut costs and be cautious to ensure long-term survival. But those who know when to be cautious will have the resources to strike when the time is right.
Even if you’re ridiculed for being cautious and doing less growth than others, keep your course. Rumor has it that even venture capital and private equity will need to reinvent themselves: They are the products of the prosperous and peaceful era that lies behind us.
Conclusion
Every 80-100 years, there was a rupture in how society works. The last one was after WWII, so we’re due for the next rupture. The next rupture will not just be shaped by geopolitics, but also by energy: A transition to renewable energy does not just mean less CO2, but making your energy sources independent from foreign sources of conflict.
To get from here to there will not be cozy. It will require muddling through, taking tough decisions, and doing more with less.
And more than anything else, it will require people who can find compromise, act together, and put the common good before personal interests.
Let’s go and build our new world.
About Me
I’m a tech entrepreneur, active reserve officer, and father of three — writing about entrepreneurship, leadership, and crisis management from hard-won experience. No AI, no fluff, no promos. Just plain-text insights for people building and leading under pressure.
When I’m not solving problems, I find clarity in the mountains around Zermatt.
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