Found a smart competitor with a 3y headstart. What to do?
po: A lot of people are making good comments about there being room for more than one competitor in a marketplace. I totally agree with that but I would add that this is true if the service stands alone.If your product depends on network effects, it is no longer true. Services like Facebook and twitter are more valuable when all of your friends are using it too. These tend to be winner-takes-all.I suggest that you stick to your strategy until you hear a customer mention a competitor by name, or otherwise have proof that you are losing customers to your competitor.