Is competition good or bad for start-ups? Some argue it is essential to assist in striving for the customers, while on the other hand others will claim it will harm them. So if it harms your business model then your unique idea may have needed more work than just being put out there.Research, plan, marketing, and much more are essential to any start-up. The well established companies out there have all done plenty to get ahead. It should strive you to compete in a dog eat dog world that we all live in.
My personal view on this topic, know your competition and the other companies out there that may be similar enough to steal or improve your own idea and work it against you. If you come prepared and completed all the hard work, it pays to look at everything including those who you will try to outshine. A simple example is if you are selling cell phones, be sure to look at the big companies out there, but don't stop there, look at house phones as well as internet phone options that may even be part of the market that you need to attract as well. Simply put, improving or an original idea takes time and dedication. As an Entrepreneur we all know what we need to do to ensure its success. So go do it. Stop hesitating and complete the action steps.
My personal view on this topic, know your competition and the other companies out there that may be similar enough to steal or improve your own idea and work it against you. If you come prepared and completed all the hard work, it pays to look at everything including those who you will try to outshine. A simple example is if you are selling cell phones, be sure to look at the big companies out there, but don't stop there, look at house phones as well as internet phone options that may even be part of the market that you need to attract as well. Simply put, improving or an original idea takes time and dedication. As an Entrepreneur we all know what we need to do to ensure its success. So go do it. Stop hesitating and complete the action steps.
