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Is it better to begin a startup with or without competition?
For example, is it better that your startup solve a common problem by introducing an entirely new field, or arrive as an underdog to an existing field?
- ra 15y agoExisting markets are usually better because the incumbents have already validated that there is a market willing to pay for the product.
- loarabia 15y ago*Edit for a key thought I left out; it also depends on how many competitors are already in that market. I've always assumed in the general case that that depended on a few factors. 1. Can you do the same thing but better? (lower cost, better UX, have seen enough negative feedback about the company that you think you can fix). 2. Do you have a slightly different take on the same idea as them? 3. Do you think you have a better network of contacts who will evangelize for you and help any launch go viral to capture back the 1st mover's advantage? If any of those is true, then I'd say yes go for it. Otherwise, I'd probably move on. Just my two cents for the general case. Specifics of the field might change things.
- dylangs1030 15y agoGood points, my idea was closer to doing the same thing but better, and doing it better in such a way that a new market would emerge from the way you did things. P.S. Thanks for the responses, I'm new here.