When crafting your
business plan, don't
assume that
all market participants will behave rationally. Customers, vendors, partners and competitors sometimes do irrational things. When customers or partners seem to be behaving irrationally, make sure your
business model makes sense, the
problem may be on your side rather than theirs. When vendors or competitors behave irrationally, it can sometimes hurt you in the
short run, but will generally help you in the long run, as long as your
business is sufficiently flexible to withstand the temporary irrationality.
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