Competition is Good but Competing with Smart, Funded Company as a Startup is Dumb

in Project HOPElast month

Have you met with entrepreneurs who want to start a business or are in the idea face, and when you ask them what is their idea? The basis of most of their ideas with revolve around overtaken Amazon, or creating the new Apple. They will tell you they are ready to bring a revolution to the industry they are getting into, and the idea would be solely a copy of a giant in the industry, trying to overtake this industries. Before I continue, let me make you understand something.

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Before the industrial revolution, there was Mining and before Mining, there was Agriculture. Humans are known to always improve on as years go by and in every of this periods, they have always been innovation and giants who took advantage of opportunities in those period and were doing business. Before the internet, companies like Coca-Cola were one of the largest company based on market cap and before this periods oil companies were holding the world to ransom. In every innovative period, there are always company which begin this innovations.

No one is saying you should not compete with other businesses producing the same goods or rendering the same services but when you are a startup entrepreneur and you want to compete, it is good you look at the competitive advantage you have as a business over your competitor. When this is not checked there are often problems. There are a lot of untapped ideas which could form another industry or become a business, so why compete as a startup with companies like Apple, Amazon, Alphabet, and so on.

Competing with the giants in the industry has several disadvantages from a very skilled technical knowhow, easy access to ideas and large funds for marketing and competition. Competing with this type of business means the startup must have the funds, the right skill, and the right team else, there is a possibility the startup business will fail before it began.

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I agree with you that it is an unnecessary venture to compete with big companies who obviously have better grounds to win the competition.

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