I really like the way he lays out the problem because it’s exactly how I try to think about and analyze competitors for any project I’m involved in.
Lately I’ve been spending a lot of (my limited) brain power defining our goals and go-to-market strategy for Coach Wizard. As part of that, I’ve spent a significant amount of time trying to identify, and analyze, the pre-existing important players in our space.
While none do the specific things, or have the specific goals, that we do right now - many are either direct competitors (because we serve much the same end goal in the market) or are at least positioned to become a serious direct competitor if/when we prove out our model.
Does this worry me?
Of course, but not so much that I lose sleep over it (yet). And not so much that I really spend that much time reacting or shifting our strategy based on it (but, yes, there have been a few little tweaks to things as I’ve discovered more ‘truth’ around what others are doing or trying to do).
However, at the end of the day I strongly believe we still have a number of unique advantages (which is why we are in the game in the first place).
And honestly at our current stage our biggest threat isn’t competition, it’s simply not getting to market, or once we do, finding out that we are not solving a real (big) problem in our market (ie. having the wrong vision/strategy).
To protect against this - regardless of our stage, we’ll always monitor and measure the market (and the competition) to make sure our vision and our execution remain in-line with the real needs and problems we identify…but the main focus, and driving force, will always be our vision and our execution.
We won’t be driven by the competition, but we won’t blind to it either.
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Kevin has a day job as CTO of Veritonic and is spending nights & weekends hacking on Share Game Tape. You can also check out some of his open source code on GitHub or connect with him on Twitter @falicon or via email at kevin at falicon.com.
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