Damn the Torpedoes, Full Speed Ahead!
...or not?
Fortune favors the bold, and this is true in many fields. It is especially true in fields of conflict, such as war, market competition, and similar pursuits.
However, this approach works best—and perhaps only works—when offense is part of your arsenal.
In market competition, you can pull out the (metaphorical) big guns and attack. In war, you can pull out actual big guns and attack.
Regardless of whether Admiral Farragut ever said the words, the approach has a lot to recommend it: “Damn the torpedoes, full speed ahead!”
In other words: Find the enemy and attack them before they attack you.
Well said.
Except.
But.
Wait.
What if you can’t attack?
When your adversary can attack, and attack, and attack, and attack again, with no consequences whatsoever, and all you are allowed to do is defend?
If an army with swords and spears approaches and all you have are shields?
Are you really going to attack the enemy armed only with shields? True, defensive-only shields?
Pretty clear that would be suicidal.
That’s why, when you are a crypto company trapped in the North Korean Love Triangle, “damn the torpedoes, full speed ahead!” may be harmful to your business.
Attacking market competitors as a business is a great idea. But if, in so doing, you overextend yourself and expose your flanks to North Korea, then you will get rekt.
Fortune favors the bold. It is true. But there is a fine line between “bold” and “suicidal”. Make sure you understand the risks you’re taking, the consequences of how you deal with the North Korean Love Triangle.
