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Ask YC: What to do when the competition surfaces?

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Re: Ask YC: What to do when the competition surfaces?

#31
I remember in the Masters Tournament a few years ago when Mickelson won it all, he birdied the final hole to win.

His approach shot on 18 landed in almost the exact same spot as his playing partner's. The guy he was playing with gamely took his putt first, allowing Phil to see how the putt would roll (which direction it would take, how hard to hit it, etc).

After having seen this guy try almost the exact same shot, and miss, Phil was able to learn from his partner's mistakes, and hole his putt.

My point is that there's something to be said for watching someone else make the initial blunders and capitalize with a better product. There are plenty of market share leaders that weren't first to market, but perhaps came slightly afterwards...

Re: Ask YC: What to do when the competition surfaces?

#32

Don't be intimated by potential competitors--that's exactly what they want. Wait until you think what they are doing is going to actually impact your company before reacting. Continue as planned. Additionally, the competition might not be all that bad for you. They may help flesh out the market for you. You might be able to ride on their press and their advertising dollars. You might get ideas from their products. Fi…

You could run for a bomb shelter and cower in the corner...

or...

Launch early... update often. IF you launch first you get credit for that. Also, learn what your competitors core values and visions are. Compare those to your own, and find a way to differentiate if yours are the same as theirs. Let your core values and shared vision drive you and you will most likely improve your chances for success.

But if you do choose the bomb shelter option, let us know how to contact you in case the competition goes defunct!

Good luck,

Christopher Mancini

http://www.propertystampede.com

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