All entrepreneur He has been through that, when he tells his friends that he is going to start his own company, that he will risk going out into the market, it is very common for them to say: “but that already exists”. Frustration sets in and good ideas from good potential entrepreneurs are forgotten. Can it be undertaken without having a new product?
Can you imagine Richard Branson resigning because there were already airlines or Larry Page giving up the idea of Google because Altavista and yahoo?
Of course someone has already thought of that! It is the most common thing in the world big persons come to mind big ideas and there’s nothing wrong with repeating them, it’s almost a way to reduce risk and uncertainty, after all, if someone else does it, it’s because the idea is profitable.
However, it is not about working like a photocopier, but about being smart and knowing how to impact the market in a way that differentiates you from others, so if you have already made the decision and you are going to open a business similar to others, already existing in the market you must take into account these four keys.
Start without having a new product
1. Stand on the shoulders of giants
One of the advantages of working on a path already traveled by others is that it is possible to learn and avoid the mistakes they made, study the segment, the competition and the history of their businesses well. It is vital to identify best practices and also the fields not covered by the competence It is in these spaces that the greatest opportunities for innovation are found.
2. Do not try to be like the reference of the segment
In Colombia there is a paint that is very clear that it is not the market leader and it does not want to be either, it is promoted as “the other quality paint”, which gives it a huge advantage over the rest of its competitors who wear themselves out trying to be the first.
when you arrive with a proposal that others already offer, people are informed about it; They already know who to compare you with and they are not interested in you being the same, they care about how you differ and how that benefits them. Instead of wearing yourself down by trying to be the leader at all costs, work to challenge their hegemony.
3. Pay attention to trends
They constantly appear social movements that change people’s tastes and preferences, providing opportunities that large companies often cannot take advantage of due to the large bureaucracy that characterizes them.
When you are in the position of the entrepreneur, just starting out, it is possible to take advantage of these unexplored fields and move quickly to make your proposal before anyone else. There are many bakeries, but experts in cereals, fair trade or quality artisan proposals, only yours.
Being able to take advantage of trends is having the power to reach new segments first with new products or services.
4. Look beyond the horizon
Being in the same business does not mean doing things the same way. Just because the segment behaves in one way doesn’t mean you have to stay there. Go one step further, your level of product or service must always have the conjunction “AND”, “what others do ‘AND’…”, these ellipses have to be replaced with what responds to the trend, so that you should always be clear that:
“It is not about doing the same as others, but about starting from what others do.”