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This requires a deep understanding of the industry, as well as a commitment to ongoing research and analysis. Startup founders must be able to identify key competitors and assess their strengths and weaknesses, while also developing strategies to differentiate their own product or service. Successful startups also tend to be highly innovative and creative, with the ability to generate new ideas and approaches that set them apart from competitors. This requires a willingness to take risks and experiment with new ideas, as well as a focus on continuous improvement and iteration.

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