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Entering a cornered market

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A post of a ranting nature...

Redeye

New Contributor
Aug 19, 2018
15
11
I've been researching a few ideas and i think I've found a decent opportunity. But, the market is essentially run by one company. They created the space and have a great reputation within the community.

There is 1 other major competitor, and they don't have a footprint close to the main company.

So here's my dilemma: I have never tried to start a company and have zero experience. The company that dominates the space has a reputation that has grown becuase of their outstanding customer service. Should I try to enter the market?

I figure working out the kinks along the way is the best practice, but I still feel some hesitation.

P.s. this might have been a rant on my end, I just have no one to flesh out these ideas with.
 
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amp0193

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May 27, 2013
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What can you do better than them?

If the answer is "nothing", then stay out.

If you've got something good, then chisel your way in, and the customers will start to siphon to you instead.
 

Redeye

New Contributor
Aug 19, 2018
15
11
I figured that much. I have an idea for an added benefit that goes beyond what their produdct does But if my idea catches on, they would be quick to replicate the change and I'm not sure there would be anything stopping them from implimenting it on a larger scale to a larger audience.
 

amp0193

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I figured that much. I have an idea for an added benefit that goes beyond what their produdct does But if my idea catches on, they would be quick to replicate the change and I'm not sure there would be anything stopping them from implimenting it on a larger scale to a larger audience.

Yes, it will probably happen, but not for a while (longer than you might think). The big boys are slow to pivot or change their ways.

You can't be a one trick pony. You've got one good innovation. Great! But you have to keep coming up with more as you go, so that you maintain the value edge in the mind's of the customers.
 
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