On Business: Competition Arising
February 12, 2013
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As you guys know, I started a business about a year ago and it failed miserably. However, after assessing the situation and reasons behind our failure, we managed to pick ourselves up and plan a new and far better business model. Due to fear of having our idea stolen, a common scenario in internet-based businesses in Egypt, we decided to find a developer and a designer to add to the owner’s team.
With a strange twist of luck, we managed to find one person with both skills, adding a third to the owners/founders. Anyway, the site launch has been delayed about three months so far and is expected to be delayed another month at least. Unfortunately, a competitor had started penetrating the market and is currently threatening our unique idea. Further investigation lead us to believe that this is not such a bad thing because it shows that there is a current need for the market. Nevertheless, their resources are far more than ours.
The emergence of this competitor gave us a fright at first, but we continued to assess the situation until a positive course of action had been determined. We will ride their marketing wave by a stroke of luck (their slogan is our name) and work even harder to reach our loose deadline. The competition gave us the required boost to work even harder and speed the development/testing process.
As soon as the website launches I will make a post so that you would know what the hell I have been ranting about for a year. Good luck on whatever endeavor you are currently embarked on or intend to.