The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Should I worry about getting crushed?

DangerousDave

Contributor
Read Millionaire Fastlane
So I have an idea that I believe is really good, viable, and helps people. It is something I would use, and I believe many other people would be interested in using.
Of course, I dont want to say what that is, but it would save people $, and time.

Let's just say I create a website with this new feature to save money, and a big dog in the industry comes along and sees what I am doing. I cant see anything patent-able in the idea, so they could easily add the same feature to their website, and potentially crush me.

To start it will not be cheap. It will require building a fairly complex website, and a lot of marketing. But I can also see a very good upside to it, especially if I can scalp their customers. I think that would be possible as their fees seem very high. So once well established, I could perhaps undercut them even if they do, but if they acted before I was established. . . it might be lights out.

So my question is how much do you worry about putting your time/money into a business knowing they 1000lb gorilla could rip your arms off?


I have a smaller but related lead generation idea that I could do that would keep me under the radar, but also a much lower income potential, and probably more day-to-day work. If I create the right processes, though, maybe both would be options I could do simultaneously. This option would probably be much faster to implement though.

Any thoughts?
Thx!
 

Become a Fastlane INSIDER to view the forum ad free.

Twiizlar

Bronze Contributor
Speedway Pass
Mar 4, 2012
338
335
130
23
This can apply to any business that doesn't have to do with a patent (most of them). This is called competition.

As long as you have good USPs and a good strategy, it would be worth a start.

Manoj Bhargava and 5 hour energy comes to mind. You think that he shut down his business when Redbull and Monster ripped off his idea of having a caffeine shot?
 

Andy Black

Any colour, as long as it's red.
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
May 20, 2014
8,163
34,630
4,306
Ireland
www.andyblack.net
To start it will not be cheap. It will require building a fairly complex website, and a lot of marketing.
I’d be more worried about this than any 1,000lb Gorrillas.

Can you start cheaper? Can you make a sale this week?
 

ApparentHorizon

Gold Contributor
Speedway Pass
Apr 1, 2016
785
2,302
553
Greenville, SC
It will require building a fairly complex website, and a lot of marketing
I've worked with websites for the past decade. The clients who come up to me and say, I want XYZ ABC 123 ASDF, usually don't go past a soft launch.

The ones that say, I want a website that does A, are the ones who go on to make millions.

I have a smaller but related lead generation idea that I could do that would keep me under the radar, but also a much lower income potential, and probably more day-to-day work. If I create the right processes, though, maybe both would be options I could do simultaneously. This option would probably be much faster to implement though.
If people are copying you, you're on the right path.
 

404profound

Platinum Contributor
I've Read UNSCRIPTED
Speedway Pass
Aug 27, 2017
1,288
2,625
658
Desert of Desertion
I've worked with websites for the past decade. The clients who come up to me and say, I want XYZ ABC 123 ASDF, usually don't go past a soft launch.

The ones that say, I want a website that does A, are the ones who go on to make millions.

What qualifies "does A", singular functionality / purpose, like a microservice?

If people are copying you, you're on the right path.
 
OP
OP

DangerousDave

Contributor
Read Millionaire Fastlane
I’d be more worried about this than any 1,000lb Gorrillas.

Can you start cheaper? Can you make a sale this week?
Fair concern and question. Can I start cheaper? Yes. I can greatly simplify the plan, making it straight lead generation. But this week, no. I have to build the business list before I can start giving them leads. It's not a local thing and not as easy as looking in the phone book (figuratively speaking). So it will take more work up front to build that.
 

Andy Black

Any colour, as long as it's red.
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
May 20, 2014
8,163
34,630
4,306
Ireland
www.andyblack.net

PizzaOnTheRoof

1% Better Every Day
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2018
462
1,008
362
Texas
You better hope someone tries to rip you off...
...that means there’s a market ;)
 

whiz

Silver Contributor
Speedway Pass
Nov 29, 2017
193
638
267
28
New Jersey
Both your businesses are just ideas now

Pick the one that's easiest to turn into a reality

Take your Minimum Viable Product and get one sale

Get more sales

Gain a ton of business insights from the easier idea

Then tackle the bigger idea with your newfound biz skills

Or you might find that the "small idea" absolutely takes off and you don't even care about the bigger idea for the time being

But you'll never know anything by just keeping it in your head

Start on the "smaller but related" idea today
 

Become a Fastlane INSIDER to view the forum ad free.

AgainstAllOdds

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
Dec 26, 2014
1,834
10,764
2,426
27
Chicago, IL
Get funding from a source that can lead you into more rounds of funding.
 
OP
OP

DangerousDave

Contributor
Read Millionaire Fastlane
Ok, thanks for the feedback guys.
I'll not worry myself with the "what if's", and get something done.
I'll put the big site on the back burner, focus on lead generation for the short (and possibly long) term, and see where that goes.
 

Davejemmolly

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 1, 2018
93
213
156
Australia
I'll put the big site on the back burner, focus on lead generation for the short (and possibly long) term, and see where that goes.
Wrong answer! Put your big boy pants on and go for the audacious idea!

If you never do it, even if your ‘easy option’ goes well, you’ll forever be wondering if you could have made ‘the big idea’ work
 
OP
OP

DangerousDave

Contributor
Read Millionaire Fastlane
Wrong answer! Put your big boy pants on and go for the audacious idea!

If you never do it, even if your ‘easy option’ goes well, you’ll forever be wondering if you could have made ‘the big idea’ work
Implementing the 'easy option' will help me to move toward the audacious idea, so nothing is lost.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom