How do you identify opportunities for differentiation in a highly competitive hardware space?

2 main frameworks to think about here.

1. Can you identify a white space in the market? (Blue Ocean Strategy). What is the market missing? And do you have the big unlock that the market is waiting for?

   • Don't get too attached to your ideas and feel free to ditch those that provide only an incremental improvement to the customer experience;

2. What is your special niche. Is it technology? Is it distribution? Is it the software that you pair it with? Focus on the small section of the market. Knowing that you don't have to conquer the full market on Day 1 can be important realization. A product that is made for everyone is made for no one.

For example -In a flooded market of portable audio speakers, in the very early days, Sonos found its niche. It was focused on whole-home-audio and made exceptional speakers for music aficionados.