Re:No office, no boss, no boundaries – rise of the nomadic rich
by thenomad on Tuesday January 08, 2013 @06:17AM
(#5025733)
I'd go further - having competitors is a very strong sign that you're onto something good. It's when you enter a niche that should be teeming with competitors and isn't that you should start being concerned!
I ran across a rather good quote on this subject the other day - "Don't worry too much about being different. Just be good. Good is different enough."
Re:No office, no boss, no boundaries – rise of the nomadic rich
by rmc on Tuesday January 08, 2013 @08:24AM
(#5026058)
Having competition, even free competitors, doesn't have to be a deal breaker.
Exactly. Just look at Google & Facebook. Both were late comers to their respective businesses (search engines & social networks). Both now have oodles of money.
Even if you don't have a better product, you can still make sales by being more visible, being the first product people find/try when they begin searching. If they like the product, they might buy without even knowing there was a free competitor. It's a less noble strategy than having the best product, but more profitable than having a perfect product no-one ever finds. (Ideally you should have a great product and high visibility, of course.)