I'm planning a range of nutraceutical products - for my target market there isn't anything like it in the UK. I was really motivated and have meeting set up with a business advisor and manufacturer next week.
However, as part of my research this week I looked at distribution channels and found a US-based company making what I planned to make - they could launch here before I got started.
I also had a look at my biggest UK-based competitor and wondered what's to stop them doing what I do but with a bigger budget and their good reputation?
I don't expect or want to operate in a competition-free market but the gap between my idea and their products seems huge and overwhelming.
I'm planning market research to gain some assurance that my product has demand which I think will help.
Any suggestions for not letting comparison with competitors stop you starting up?
However, as part of my research this week I looked at distribution channels and found a US-based company making what I planned to make - they could launch here before I got started.
I also had a look at my biggest UK-based competitor and wondered what's to stop them doing what I do but with a bigger budget and their good reputation?
I don't expect or want to operate in a competition-free market but the gap between my idea and their products seems huge and overwhelming.
I'm planning market research to gain some assurance that my product has demand which I think will help.
Any suggestions for not letting comparison with competitors stop you starting up?
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