If network effect is your core, you will dominate your field by reaching a critical mass so that it doesn’t make sense for customers to go elsewhere. The value of a network is related to how many people are on that network. The company with the most users becomes the most valuable. New customers gravitate to the biggest, most valuable company, ignoring a positive feedback loop.
A company that features outstanding customer service retains a higher portion of customers compared to the competition. This reduces churn, which reduces expense.
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There’s nothing magic about being a successful entrepreneur. It’s a learned skill, and in Disciplined Entrepreneurship, the author details 24 steps to a successful startup.
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