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Having lots of competition doesn't mean they have equal market share. It doesn't matter than there are lots of competitors if all of them are fighting for less
by nowherebeen 4y ago
Having lots of competition doesn't mean they have equal market share. It doesn't matter than there are lots of competitors if all of them are fighting for less than 1% of the market share. In fact, you don't even need to worry about them since none of them have figured out how to wrestle market share away from Google.
As for competition, you want to enter a market with competition. If there is no competition, then there must be a reason. Either a) there is no market at all, b) the market is not profitable or c) you are inventing a new market. I have seen many founders try to do c) because of your reasoning of finding something with no competition and fail.
Competition also shows you might have timing correct. If they had no competition except Google, then why would Plausible be the only ones to see the market opportunity? That's extremely unlikely and would indicate to me that Google still had a stronghold on the market.
- ClumsyPilot 4y agoI second this, it's better to enter a market with some competition and turnover, if you are trying to invent a new market, even if yhe need is real, you need to explain to people why they need this new wiered thing they never considered. unless you have tremendously deep pockets, you probably can't afford customer education at scale. also you dont have any data to enable you to separate potential customers fron people who just want to waste your time because they are curious but wont buy. you dony know the buy cycle in that markrt, etc.