Entering young industry but with no differentiation?

[Sisyphus]

I happened to stumble on an idea that I really want to work on. The idea is really simple, but there is not much wiggle room.

As i was doing my research I found two companies in the states doing the exact same thing. Both started around 1 - 1 1/2 years ago. One of which just raised 1.5 mil in January. The idea is kinda location based; and the market kinda feels like the winner-takes-all sorta deal. One company already spread a dozen or so big US cities.

So is it worth working on an idea like this if you can't really bring anything new to the table, and don't have the first-mover's advantage? The only thing I have going is that I'm in located in Canada, and it will be probably 1-2 years time before these US companies spread to Canada. I can win on execution, but the team leading the market seems pretty strong.

 

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[Chimp]

You can always differentiate. Customer service, marketing, value, product modifications, packaging, deals, better quality, cheaper product, etc.

 

[Ricardo's]

If you really want to work on it and there is a market demand, why not?

 

[Paul Thomas]

"I can win on execution, but the team leading the market seems pretty strong."

So can you win or not?

 

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