Questions

My direct competitor started 2 years ago, I came up with the idea kind of late, he already has 6000 clients, mobile, and web app, his business is up running, he can quickly imitate what I could differentiate myself from his business and je just secured funding to expand to the usa Market. as a solo-preneur with full-time job, I was wondering if I could compete against that and since at this point I'm still seizing the market, should I drop the ball and move to something less risky. Thanks

We often view competitors as a bad thing, when in actuality, they can be very valuable assets. They are a source of business intelligence and much can be learned from their successes and failures (at their cost). Markets can be better understood as well as how to market to them by studying how your competitors reach them. Competition keeps us sharp and lean and combats complacency.

Sometimes, we can even turn competitors into strategic partners...

Consider these points and please let me know if you have any questions.

Thanks,
Daryl


Answered 7 years ago

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