The situation im in right now is one of those things that really eats at my motivation sometimes. I had this great idea, it is fastlane for sure and I thought I was the first one to come up with it.
I did a quick search, didn't find a competitor and went on to put a lot of time into planning how to set everything up. Then this feeling creeps up on me.. did I do enough research? Did I search for competitors hard enough? Well no, I didn't..
Guess what? I found a small business that was doing what I wanted to do.. Not just a similar thing, no, exactly the business I wanted develop. They even had the same way of charging money for it, they showcased the same problems it solved and they have been doing it for the past 5 years!
On the bright side... I had never heard of them and I found them by accident (Weird not very related keyword). This got me thinking, I have never seen any ads by this company and I had never heard of them. maybe if I come up with some tweaks (which will be hard thanks to their 5 year advantage) AND market it very good THEN i might have a change on competing with them. Problem: I don't have the money or knowledge to do all that.
Why is it fastlane? It solves a need, entry is rather high, I would have a lot of control over it, it can be scaled big time AND it's a system that can be automated!
And oh yeah... I estimate that this 6 employee business has allready made about €8 million,- according to their prices and the number of customers they have...
I need to motivate myself again, maybe figure out if there is some sort of spin-off to this in another market or something...
What do you guys think? Develop anyway, and take them on or forget about it and move on?
I did a quick search, didn't find a competitor and went on to put a lot of time into planning how to set everything up. Then this feeling creeps up on me.. did I do enough research? Did I search for competitors hard enough? Well no, I didn't..
Guess what? I found a small business that was doing what I wanted to do.. Not just a similar thing, no, exactly the business I wanted develop. They even had the same way of charging money for it, they showcased the same problems it solved and they have been doing it for the past 5 years!
On the bright side... I had never heard of them and I found them by accident (Weird not very related keyword). This got me thinking, I have never seen any ads by this company and I had never heard of them. maybe if I come up with some tweaks (which will be hard thanks to their 5 year advantage) AND market it very good THEN i might have a change on competing with them. Problem: I don't have the money or knowledge to do all that.
Why is it fastlane? It solves a need, entry is rather high, I would have a lot of control over it, it can be scaled big time AND it's a system that can be automated!
And oh yeah... I estimate that this 6 employee business has allready made about €8 million,- according to their prices and the number of customers they have...
I need to motivate myself again, maybe figure out if there is some sort of spin-off to this in another market or something...
What do you guys think? Develop anyway, and take them on or forget about it and move on?
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