Beat to the punch…

Part of any good business plan is researching and reviewing the competition.  Whether direct or indirect the semblance of someone who could take a customer away from you is considered competition.  The question is – are competitors detrimental to your plan or do they validate it?

Today an adviser close to our team uncover the first direct competitor to our new venture.  My initial reaction was close to panic.  But after some time I realized that, although not entirely different, our model is unique in it’s own ways. Then I remembered some advice given to me a long time ago by a mentor.  He said “you don’t have to re-create the wheel, just drive the car better.” As an ex-fighter I think of it a another way.  You don’t have to be the first to the punch, you just have to hit harder.

You’ve been a great listener.  By the way…”want to gograblunch?”.

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About Jonathan Patrick

GoGrabLunch.com connects like-minded business professionals over face to face, one on one appointments based on each member's preferences.

Posted on September 28, 2010, in Competition and tagged , , , , , , , , , , , . Bookmark the permalink. 1 Comment.

  1. hey there, just wanna say thank you for providing this information. I was searching around ask and couldnt find a single bit of information on this. I am gonna credit you in my report !

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