User Power
Value/Post Ratio
110%
- Apr 27, 2015
- 10
- 11
Hello!
I'm 5000 dollars deep in the product development of an e-com store delivering flower bouquets!
I'm a fairly new entrepreneur but I have help from a mentor and business developer who also get financed by an innovation investor.
The business idea is basically starting an E-com store for flowers where people can order flowers secured in a proper box ensuring a cheap and safe delivery (Letterbox flowers).
This concept has been proven to work in many other countries like the UK but hasn't really been a thing here where I live yet.
I'm a scientific expert in plants by trade which has made product development easy and would make me the first on the market with this kind of solution and expertise.
So far so good... until now when I just found a multinational company from Holland that opened up their e-com store doing more or less exactly what I believed to be my USPs.
This company has only been active in my country for two months more or less. I guess this was bound to happen at some point but I was hoping to be first which is important when getting further finance from the innovation investor...
They are big and I am small, so my question is: How do I as a start-up with minimum finance of maybe 20 000 dollars compete with a multinational company?
Also, how do I continue to motivate an innovation investor when I'm no longer that unique?
Appreciate any thoughts from people with experience of facing big companies as a start-up
I'm 5000 dollars deep in the product development of an e-com store delivering flower bouquets!
I'm a fairly new entrepreneur but I have help from a mentor and business developer who also get financed by an innovation investor.
The business idea is basically starting an E-com store for flowers where people can order flowers secured in a proper box ensuring a cheap and safe delivery (Letterbox flowers).
This concept has been proven to work in many other countries like the UK but hasn't really been a thing here where I live yet.
I'm a scientific expert in plants by trade which has made product development easy and would make me the first on the market with this kind of solution and expertise.
So far so good... until now when I just found a multinational company from Holland that opened up their e-com store doing more or less exactly what I believed to be my USPs.
This company has only been active in my country for two months more or less. I guess this was bound to happen at some point but I was hoping to be first which is important when getting further finance from the innovation investor...
They are big and I am small, so my question is: How do I as a start-up with minimum finance of maybe 20 000 dollars compete with a multinational company?
Also, how do I continue to motivate an innovation investor when I'm no longer that unique?
Appreciate any thoughts from people with experience of facing big companies as a start-up
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.