Why Is the Statement, "My Startup Has No Competition," Always

question 37

Essay

Why is the statement, "My startup has no competition," always wrong? How can you find out about your competitors?

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Definitions:

Market Value

The existing market rate at which you can purchase or sell an asset or service.

Book Value

The value of an asset as shown on a company's balance sheet, calculated as the cost of the asset minus any depreciation and amortization.

Capital Balance

The amount of funds contributed by owners or shareholders to a business, plus retained earnings and reduced by any withdrawals or distributions.

Asset Revaluation

The process of adjusting the book value of an asset to reflect its current market value.