This is one of those times when I point out how silly it is to worry about sharing your "ideas" with the forum. There really aren't many new ideas -- just modifications to existing ideas.
I wouldn't do exactly what this guy is doing. Like CEBenz says, find something that you can do better than them.
McDonalds didn't create food -- they made it faster.
FedEx didn't invent mail delivery -- they made it overnight.
Ford didn't invent the car -- they made it cheaper.
Take what that competitor is doing -- and make it better, faster, cheaper, smaller, bigger, more automated, whatever.
But whatever you do -- don't do "nothing".
I wouldn't do exactly what this guy is doing. Like CEBenz says, find something that you can do better than them.
McDonalds didn't create food -- they made it faster.
FedEx didn't invent mail delivery -- they made it overnight.
Ford didn't invent the car -- they made it cheaper.
Take what that competitor is doing -- and make it better, faster, cheaper, smaller, bigger, more automated, whatever.
But whatever you do -- don't do "nothing".