Overview: We see teams make two basic mistakes 1. An overly broad definition of their "circle of competence." When they narrow their focus to capabilities they

Overview: We see teams make two basic mistakes 1. An overly broad definition of their "circle of competence." When they narrow their focus to capabilities they can execute with distinction; they chase fewer opportunities that they are unlikely to win. In addition, their thinking shifts away from "everyone is a competitor," and they are able to partner with a broader set of players. 2. Looking at things as zero sum instead of win-win, not only with customers but also partners and even potential competitors. The key to success, especially in early markets, is co-creating value and taking a smaller share of a larger pie.