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High-ROI Social Media Strategies for Independent Web3 Founders

· 6 min read

For Web3 project entrepreneurs, social media operations should aim for high returns on low investment (ROI), focusing on content quality and dissemination efficiency. Independent founders can leverage content strategy optimization, growth hacking techniques, algorithmic mechanics, community management, and risk mitigation across platforms such as Twitter, Xiaohongshu, TikTok, WeChat Moments, YouTube, Discord, and Telegram. This report provides an in-depth analysis of these approaches, along with specific case studies, data insights, and actionable recommendations.

1. Content Strategy

1. Web3 Content Types:

The Web3 sector has a certain technical threshold, with an audience ranging from industry investors to general users. Content should therefore be both educational and engaging. The following high-impact content types are effective:

  • Educational Tutorials: Explain complex on-chain concepts or provide step-by-step guides to lower the learning curve for users. For example, short video tutorials like “Learn to Use a Crypto Wallet in 60 Seconds” are highly popular in crypto communities. Educational content can use infographics, long Twitter threads, and deep-dive explanations to enhance clarity.
  • Industry News: Share real-time trends and project developments, such as market movements, regulatory updates, and new partnerships. Posting industry news helps establish a founder’s professional credibility and attracts investors who follow market dynamics. Instead of always creating original content, founders can retweet and comment on authoritative news, adding their insights to provide value.
  • Entertaining Content: The Web3 community thrives on meme culture and humor. Posting memes and jokes can foster community engagement and relatability. For example, sharing market fluctuation memes, interactive polls, or fun quizzes can significantly boost engagement.
  • Project Updates & Behind-the-Scenes Stories: Regularly updating users on development progress and milestones fosters transparency. Sharing startup insights and team stories in a lifestyle narrative style (especially on WeChat Moments or Xiaohongshu) increases authenticity and builds trust. Users enjoy seeing the human side of projects.

2. Platform-Specific Content Best Practices:

Each social media platform has a distinct style and content format that requires tailored adjustments:

  • Twitter (X): Primarily text-based, ideal for quick updates and discussion topics. Web3 founders frequently use Twitter threads to elaborate on ideas, as threads convey more information and tend to perform well in Twitter’s algorithm. For example, the NFT project Curious Addys’ team posted a thread explaining their smart contract refund mechanism, which received over 1,000 likes—far exceeding single-tweet responses. Twitter Spaces (audio live sessions) are also effective for real-time interactions with followers.
  • Xiaohongshu: A platform based on image-text posts where users favor experience-sharing and practical guides. Web3 content here should be strategically packaged, emphasizing blockchain applications, NFT collectibles, and real-life experiences rather than direct promotions. Using high-quality original images or clear infographics increases click-through rates.
  • TikTok (Douyin): A short-video platform best suited for entertaining yet educational content. The optimal format is 15-60 second videos that use simple language to explain Web3 concepts or showcase product highlights. The first 3 seconds should capture attention using suspense, twists, or trending music to prevent users from scrolling away. Scene-based short dramas or animated explainer videos help simplify complex concepts.
  • WeChat Moments: A private domain mainly consisting of existing contacts and potential business connections. Founders should share project progress, industry perspectives, and personal insights in a way that reflects both professionalism and authenticity.
  • YouTube: Best for long-form deep dives (e.g., project demonstrations, interviews, webinar recordings). YouTube users are willing to watch detailed analyses, making 5-10 minute videos ideal for discussing Web3 trends or product features. Thumbnails and titles should be optimized for clickability.
  • Discord/Telegram: These platforms prioritize text-based real-time interactions and community engagement. They lack algorithmic recommendations, so founders should focus on timely information delivery and interaction facilitation (e.g., setting up announcement channels and using @everyone tags to highlight key updates).

3. Low-Cost High-Quality Content Creation Methods:

Independent founders often have limited resources, requiring smart strategies to generate high-quality content efficiently:

  • Content Repurposing: Convert a single content piece into multiple formats for different platforms. For instance, after hosting an AMA session, extract key points for a blog post, clip highlights into short videos, and create infographics for easy sharing.
  • User-Generated Content (UGC): Encourage community members to co-create content, reducing workload while increasing user engagement. For example, the Decentraland project launched the #BuildOnDecentraland campaign, inspiring users to showcase their creative work within the platform.
  • Using Templates and Tools: Leverage free or affordable tools like Canva (infographics), OBS (video editing), and AI-assisted content refiners to enhance quality without high costs.
  • Content Calendar Planning: Plan content themes in advance to avoid last-minute rushes. Align content with industry events, market trends, and audience interests.

2. Growth Hacking Strategies

1. Cost-Effective Follower Growth Techniques:

  • Community Engagement: Instead of relying solely on posting, actively participate in industry discussions. Engaging in meaningful discussions under influencer tweets can drive exposure and attract profile visits.
  • Giveaways & Contests: Hosting retweet giveaways (e.g., “Follow & retweet for a chance to win an NFT”) is an effective way to increase engagement.
  • Trend-Jacking & Hashtags: Align content with trending topics (e.g., #Bitcoin, #NFT) to increase discoverability.
  • Cross-Platform Traffic: Embed Twitter handles in Discord announcements, encourage Telegram users to follow YouTube, and drive WeChat traffic to newsletters.

2. Viral Growth Strategies:

  • Gamified Social Tasks: Platforms like Zealy (formerly Crew3) allow founders to set up daily engagement tasks (e.g., Twitter shares, Xiaohongshu posts) with reward systems.
  • Community Partnerships: Collaborating with similar projects or KOLs for mutual promotions can expand reach cost-effectively.
  • Influencer Marketing: Partnering with Web3 influencers for endorsements or reviews adds credibility and attracts relevant followers.
  • FOMO-Driven Campaigns: Hosting time-sensitive campaigns (e.g., “Limited-time airdrop for the first 100 participants”) encourages urgency and organic sharing.

3. Platform Algorithm Optimization

Key Factors Affecting Content Exposure:

  1. Engagement Rate: Likes, comments, shares, and saves directly influence content ranking.
  2. Watch Time & Completion Rate: YouTube, TikTok, and Xiaohongshu prioritize content that retains viewers.
  3. Posting Timing & Frequency: Understanding peak engagement times (e.g., Twitter performs best on weekdays at noon and evenings) maximizes reach.
  4. Keyword & Interest Targeting: Proper use of hashtags and keywords improves discoverability.
  5. Account Reputation: Consistent, high-quality content builds credibility, leading to better long-term visibility.

4. Community Management

Discord/Telegram Activation Tactics:

  • Structured Community Setup: Organize channels for announcements, discussions, and support.
  • Moderator Roles & Incentives: Assign moderators and offer rewards (NFTs, tokens) to maintain engagement.
  • Event Scheduling: Weekly AMAs, contests, and discussion threads keep members engaged.
  • Gamification & Rewards: Use leveling systems and bounty tasks to drive activity.

5. Compliance & Risk Avoidance

  • Avoid Financial Promises: Phrases like “guaranteed profit” are flagged on all platforms.
  • Prevent Misleading Claims: Ensure content aligns with platform guidelines to prevent bans.
  • Platform-Specific Compliance: Be aware of content moderation rules on Twitter, Xiaohongshu, TikTok, etc.
  • Security Best Practices: Prevent scams by educating users and implementing security measures in community channels.

Conclusion

Independent Web3 founders can achieve high-ROI social media success by leveraging strategic content creation, growth hacking, algorithm optimization, and community-driven engagement while maintaining compliance. With the right execution, small-scale projects can achieve global influence with minimal costs.

Business Growth Strategies

· One min read

External

  1. Understanding Customers: Customer acquisition and demand forecasting
  2. Reaching Customers: Marketing and PR

Internal

  1. Survival: Cost Structures, Pricing, and Metrics
  2. Organizational: People and Culture

What Aspects Contribute to the Growth of Startups?

· One min read

Internally

  1. Understand Customers: Customer Acquisition and Demand Forecasting
  2. Reach Customers: Marketing and PR

Externally

  1. Survive: Cost Structure, Pricing, and Performance
  2. Thrive: People and Company Culture

Setting Up a CRM for Your Startup

· 6 min read

What is Customer Relationship Management (CRM)?

Customer Relationship Management (CRM) software allows you to manage sales leads, convert them into customers, and track data and sales performance. To establish a CRM for your startup, you first need to determine the following:

  • The process your customers go through from sales leads to active customers
  • How to differentiate among potential customers
  • The CRM software you will use

The following article assumes that your startup has a product to sell and sufficient customer activity to track and manage. If you do not yet have a product or customers, please bookmark this article for future reference when you are ready to use CRM software.

Identify Decision Points in Customer Conversion

Before purchasing any CRM software, you must first create a framework for your customer conversion process. This framework should outline the decision points in the customer lifecycle, from initial contact to lead to deal to active customer, as well as all the smaller decision points in between. To understand how your customers convert, you need to talk to existing customers and identify the different decision points they encountered in deciding to use your product. At this stage, it's best to do this with pen and paper, although software like TechValidate may be helpful.

Customer Conversion Framework

Most frameworks will include the following elements: Leads, Prospects, Marketing Qualified Leads (MQL), Sales Qualified Leads (SQL), and Opportunities.

Leads

Leads are known potential customers with whom you may or may not have established a relationship. The collection of leads is sometimes referred to as an outbound database or a prospecting database, typically stored in a CRM or integrated with one.

Prospects

Prospects are another commonly used term, although in some sales funnels, prospects are defined as being one step closer to becoming customers. When companies distinguish between leads and prospects, they often note that prospects have communicated with sales representatives or responded to them (for example, they may have replied to an inquiry call and scheduled a follow-up conversation).

Marketing Qualified Leads (MQL)

While leads may not have interacted with your company or product, "Marketing Qualified Leads" refer to leads that have taken certain actions indicating interest in your product. You need to define this behavior; some common examples include long or frequent website visits, filling out online information forms, attending events, downloading or requesting whitepapers, or clicking on ads. Not everyone you engage with is a Marketing Qualified Lead; you need to define what these parameters are based on your product. For example, if you only offer products in the U.S., but someone with an international IP address downloads your whitepaper, this action indicates intent but does not meet the qualification criteria.

Sales Qualified Leads (SQL)

Sales Qualified Leads are those leads that show a high intent to purchase. They express their willingness to buy your product by requesting live demonstrations, quotes, or conversations with sales representatives.

Opportunities

Once purchase qualification and intent have been confirmed in the sales process, Sales Qualified Leads become "Opportunities." This is the final stage before becoming an active customer.

Build Your Funnel

Not every sales cycle or product will follow this exact formula and funnel. While each process has its unique steps, most software, hardware, and services will follow a similar path. When building your CRM, it is your responsibility to map out these decision points and potential outcomes—primarily focusing on what causes a lead not to continue in the process at each step. crm-funnel

Differentiate Among Customers

A company rarely has a single type of customer. B2C companies target customers based on age, wealth, geography, technological maturity, mobile operating systems, online activities, and countless other attributes. Similarly, B2B companies target customers across size, tenure, geography, industry, technology maturity, online activities, and legal entity types, among others.

Therefore, treating every customer equally in the sales/CRM process is often a mistake. If your product supports self-registration, you may find that some customers prefer to register themselves, while others want support or sales assistance. This is a common form of segmentation among customers. Another common differentiation point is that some customers are transitioning from similar products, while others have never used any competitor's services.

Regardless of the specifics, taking the time to identify relevant differences among your potential customer base before establishing a CRM is crucial to your sales approach.

Choosing CRM Software

There are many excellent SaaS options available today, particularly for startups. A good approach is to look at the software you are already using or software that someone on your team has used before.

Zendesk and Hubspot

Typically, startups often use Zendesk for customer service or Hubspot for marketing categorization and campaign management. If your startup falls into this category, both software suites include CRM (Zendesk acquired Base CRM in September 2018). You might consider using these existing software solutions for your CRM as they are convenient and cost-effective. Using them may be free or require only a small monthly user fee.

Salesforce, Pipedrive, and Copper

If no one on your team has a CRM preference, or if you have not used an embedded CRM software platform, or if you want to purchase a standalone CRM from existing software, popular options include Pipedrive, Salesforce Essentials, and Copper (formerly Prosperworks).

All three are good choices. Some users prefer the "native" integration between Copper and G-Suite (they share similar design principles, such as allowing you to use Copper without leaving Gmail), while others appreciate Pipedrive's simplicity and cost-effectiveness. It is worth noting that a common complaint about Pipedrive is that it may feel more suited for small to medium-sized businesses rather than startups, and its email integration only allows you to associate one email address with a deal. Complaints about Copper include its lack of customization in reporting and its high cost. crm-comparison

Finally, if you are looking for a lightweight, open-source, personal CRM that protects your privacy, I recommend Guanxi.io. Why is there a personal CRM like this? This article explains it.

Building momentum for startup

· One min read
  • Listen to customers

    • Continuously communicate with customers
      • Making friends with customers is the simplest strategy: once they become your friends, you can bother them for feedback frequently. To a certain extent, sending chat messages is easier than emails and meetings.
    • Pick customers you serve
      • Exclude customers who are not painful about the problem you are solving
      • Exclude customers who want features that you haven't made yet
  • Fast execution

    • Define just the right scope
      • Usually, satisfy the simplest use case and wait to see what else people want. You will naturally know what to do next.
    • Develop an intuition for problem-solving
    • Maximize autonomy and promote a culture of prioritization by persuasion. At the same time, allow teams to choose their work based on their emotions, lives, and interests. Use persuasiveness and dynamic adjustment to drive progress.

Metrics for Measuring a Product

· 2 min read

Metrics Turn Vague Ideas into Great Ideas

  • A rough estimate is sufficient
  • Focus on how to evaluate a great product
  • Note, do not worry about the overall market size
    • Simply asking "Will it ultimately be large?" is enough

What Should We Measure About the Product?

  • Are users receiving value?
    • Active users
    • Profit
    • Transaction volume
    • Retention

Retention is Important

The chart below shows the retention rate over time for each annual cohort.

If the cohort retention rate keeps declining without a lower limit, your growth will be like a fire ring in a field that cannot sustain itself because

  • Old users will be burned out
  • New users will become fewer

You should keep the retention rate above a certain line.

Conversely, if the cohort retention rate increases over time, it indicates that your product is excellent. For example:

  1. Whatsapp
  2. Uber
  3. Facebook

Tom Tunguz: High Retention Means High Valuation

Growth

If you have high expectations and want to achieve exponential growth, then assess your weekly growth rate. Strive to keep this weekly growth rate steady, and you will experience exponential growth.

Iteration Speed

  • Smaller companies have an advantage in iteration speed
  • Metrics are key to guiding the direction of iterations
  • Measure the speed of the iterations themselves

How Much Should You Value Metrics?

  1. Not enough emphasis
    • Easy to deceive oneself and hit a wall
  2. Very high emphasis
    • Your decisions will be cautious
  3. Overemphasis
    • You increase numbers but do not add value

Reality Can Be Painful

  • Metrics can shatter illusions, and sometimes it can be a bit painful
  • Most leaders attract subordinates through illusions
  • You should
    • Learn from the past
    • Clarify the present
    • Smile at the future

Why Smart People Have Bad Ideas

· 3 min read

Paul Graham and Robert Morris's first startup around the age of 30, which involved putting art exhibitions online, ultimately turned out to be a bad idea, let alone for those in their 20s.

Why do smart people come up with bad business ideas?

  1. Bad ideas are products of intuition.
    1. People often think of what to do based on what they see; however, if you plan to work on something for several years, you should weigh several different ideas beforehand.
    2. The most tragic part is the subsequent IKEA effect: despite being a bad idea, because you invested effort into it, you will grow fond of the idea.
    3. What to do? Getting started quickly is good, but you must recognize that ==spending time does not necessarily improve the situation.== Keep asking yourself: Would anyone be willing to pay for it?
  2. Bad ideas prioritize being impressive over making money.
    1. If you want to make money, don’t shy away from dirty work: the dirtier and more laborious the work, the fewer people are willing to do it, leading to a tighter supply-demand relationship; if you take it on, your bargaining power increases.
    2. Since making money is hard, your primary goal should be to make money; otherwise, you won't make any.
  3. Bad ideas yield to fear of competition.
    1. Competition may not be as fierce as the media portrays; they often lack technical knowledge and coding skills.
    2. Why do we fear? Understanding programming but not business? In reality, the term "business" is too broad and abstract, obscuring the concrete issues below: selling products, promotions, understanding what customers want, pricing, customer support, billing, etc. Once you tackle these details, you have resolved "business."
  4. Bad ideas are too superficial.
    1. Most ideas are hybrids of blogs, calendars, dating sites, and social networks. Meanwhile, there are better, unsolved problems in the distance with high demand, yet no one is addressing them.
    2. Why is it difficult for people to research what customers truly want? The existing education system teaches people how to solve problems but fails to teach them how to ask questions.

Understanding what users want is challenging, as it requires recognizing that you need to invest time and effort into this task. Unsure how to start? The answer lies in Carnegie's classic "How to Win Friends and Influence People" — the answer is empathy, or putting yourself in others' shoes.

Fortunately, the ability to conduct user research can be learned; "smart creators" and "user research" are a perfect match that can unleash endless potential.

In a nutshell: Create products and services that the public loves and enjoys.

Introduction to Beancount.io

· 7 min read

Why bookkeeping?

Everyone has advice about how to manage money. Search Google for "manage money," and you'll get back over 1,690,000,000 links. You'll find tons of life-hacking or self-help articles and books. You'll find professional coaches or courses witch will coach you for a fee. You'll find financial and investment services. Feel free to try what appeals to you and grow your assets through trials and errors.

I think the most important thing to remember is that asking the question of money comes from fear and self-doubt. We all fear change. We all doubt our ability to make more money.

Instead of spending time worrying and doubting, focusing the opposite — your confidence. If you are playing poker and with few chips, you can only make small bets and only win a small amount of money. When you have a lot of chips, you can make big bets and win big. You have more room for taking risks. You can try things which you cannot try when you have fewer chips.

Here is the magic - by understanding more of your financial status, you gain confidence! With more confidence, we can make better judgment and would like to bet the best amount for more significant success, and then win more.

Expenses

Know your expenses and plan for next spending

Where is the end of the wining-more concern? People often talk about the buzzword of financial freedom. However, talk is cheap, but bookkeeping precisely answers the question.

Four main financial statements for the overview of financial status

Unfortunately, bookkeeping is not easy in our modern life. We are in a new age of abundance. We have a lot of accounts - cash, bank accounts, payment apps, credit cards, stock or crypto broker accounts, discount cards, … We have assets like houses, cars, gold, jewelry, … To make things even worse, some of us may live across countries and have to deal with different currencies. How could we draw an accurate map of our financial life and navigate through the future uncertainties?

By "accurate map of our financial life," I mean these four primary financial statements:

  1. Income Statement: It shows how much revenue we earned over a specific period. This statement is usually considered the most important of the financial statements because it reflects the operating results.
  2. Balance Sheets: It answers how much assets, liabilities, and equity of the entity we have. This statement is the second most important because it reports the liquidity and capitalization of our assets.
  3. Cash Flow Statements: It reports our inflows and outflows of cash and answers whether we generated cash. We need enough cash on hand to pay expenses and purchase assets.
  4. Equity Statement: This is not helpful for your personal accounting. However, for a company, this statement reports how it distributes equity among stakeholders.

Income Statement

Balance Sheet

With beancount.io, you can quickly generate statements like the above. But wait… How to prepare data for these statements?

Double-entry Bookkeeping for Correctness

To ensure the accuracy and internalize the error detection into the system, double-entry bookkeeping requires every entry to an account has at-least a corresponding entry to a different account. One transaction involves at least two accounts with two operations - debit (+) and credit (-).

1970-01-01 open Income:BeancountCorp
1970-01-01 open Assets:Cash
1970-01-01 open Expenses:Food
1970-01-01 open Assets:Receivables:Alice
1970-01-01 open Assets:Receivables:Bob
1970-01-01 open Assets:Receivables:Charlie
1970-01-01 open Liabilities:CreditCard

2019-05-31 * "BeancountCorp" "Salary of May 15th to May 31st"
Income:BeancountCorp -888 USD
Assets:Cash 888 USD

2019-07-12 * "Popeyes chicken sandwiches" "dinner with Alice, Bob, and Charlie"
Expenses:Food 20 USD
Assets:Receivables:Alice 20 USD
Assets:Receivables:Bob 20 USD
Assets:Receivables:Charlie 20 USD
Liabilities:CreditCard -80 USD

As you can see in the two examples above, every transaction must fulfill the accounting equation.

Assets = Liabilities + Equity(aka Net Assets)

We used the Beancount syntax by Martin Blais and the web project Fava by Jakob Schnitzer to build this website. And it will alert you if any transaction has any legs not summing to zero.

Error Alert

Now you understand how we enforce the correctness of the ledger. But you may ask what are those "accounts"?

Accounts for money as buckets for water

Thinking your assets as water running in and out of different buckets and "accounts" are those buckets holding your money. With double-entry bookkeeping, it becomes obvious how money is flowing across different accounts, just like how water is flowing across different buckets.

Beancount.io introduces five kinds of accounts.

  1. Income — Its amount is always negative or in debit. This is because you are making money, and then the money is debiting from "Income" account and crediting to your "Assets."
  2. Expenses — Its amount is always positive or in credit. This is because you are spending money, and the money is flowing from the "Assets" or "Liabilities" to the "Expenses."
  3. Liabilities — Its amount is positive or zero. Your credit card liabilities are a good example, which rises and falls in cycles.
  4. Assets — Its amount is positive or zero. Your cash or houses are always worthing some prices.
  5. Equity — Your net assets. The system will calculate automatically for you. Equity = Assets - Liabilities and it reflects how wealthy you are.

Now you can open your customized accounts with those keywords above:

1970-01-01 open Assets:Cash
1970-01-01 open Assets:Stock:Robinhood
1970-01-01 open Assets:Crypto:Coinbase
1970-01-01 open Expenses:Transportation:Taxi
1970-01-01 open Equity:OpeningBalance

Commodities: Tracking your investment

Yes, you can track your investment with beancount.io. For example, we buy 10 Bitcoins at the price of $100 in 2014:

2014-08-08 * "Buy 10 Bitcoin"
Assets:Trade:Cash -1000.00 USD
Assets:Trade:Positions 10 BTC {100.00 USD}

And then three years later, you sell them (originally with costs of 100perunitannotatedwith100.00USD)atthepriceof100 per unit annotated with `{100.00 USD}`) at the price of **10,000 per unit** annotated with @ 10,000.00 USD.

2017-12-12 * "Sell 2 Bitcoin"
Assets:Trade:Positions -2 BTC {100.00 USD} @ 10,000.00 USD
Assets:Trade:Cash 20,000.00 USD
Income:Trade:PnL -19,800.00 USD

Or the same transaction with @@ 20,000.00 USD means that at the price of $20,000 in total.

2017-12-12 * "Sell 2 Bitcoin"
Assets:Trade:Positions -2 BTC {100.00 USD} @@ 20,000.00 USD
Assets:Trade:Cash 20,000.00 USD
Income:Trade:PnL -19,800.00 USD

The sum of all legs of the transaction, including -2 BTC {100.00 USD}, are still, as always, zero.

The costs {100.00 USD} tag is important because you might have bought the same commodity at different costs.

100 BTC {10.00 USD, 2012-08-08}
10 BTC {100.00 USD, 2014-08-08}

If you want to simplify the process, you can set up the account at the beginning with FIFO or LIFO. FIFO stands for first in, first out, while LIFO stands for last in, first out. In the US, IRS uses FIFO to calculate your PnL and tax accordingly.

1970-01-01 open Assets:Trade:Positions "FIFO"

And then when you sell it in shorthand like -2 BTC {}, beancount will apply FIFO strategy automatically and sell the oldest commodity.

Beancount.io

Beancount.io is such a cloud service for recording your financial transactions in text files, visualize them into financial statements (income statement, balance sheet, trial balance, etc.), and helps you live a better financial life. Sign up now - It's in Promotional Period and Free!

Pitch Deck Outline

· One min read

This is an outline of slides for the seed-round fundraising.

  • Title and slogan
  • Problem
    • Challenge
    • Pain points
    • Market demand-supply analysis / market size, trend / Market geography / market segment / target audience
  • Solution
  • Why does it work?
  • Why us? / Insights / competitive landscape
  • Business model
  • Future Growth
    • Go-to-market Strategy
    • Traction to Date
    • Roadmap
  • Team
  • What we need / Ask

Why Startups Have to Innovate?

· One min read

Why do startups have to innovate? Why do growth techniques work only once for a given product or service in a given market? Why is there no skill called “business”?

The answer is ==Anna Karenina principle==. Tolstoy opens Anna Karenina by observing: “All happy families are alike; each unhappy family is unhappy in its own way.” Business is the opposite. ==All happy companies are different: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape competition.==

If a startup does not innovate but copy a product or service from the market leader, and the startup is targeting the same market, then people will not buy it because people are probably customers of the market leader already. Why do people buy the same thing for twice if their needs are fulfilled already?