Competition - How do you evaluate it?
Hi Indie Hackers!
When thinking about a startup idea sooner or later I always struggle with evaluating the competition.
Both low & high competition can be interpreted as either good or bad.
What is your framework when you think about competition for your startup idea?
Thank you :)
TBH, I've never really focused on competition. I've often kept an eye on the types of things they've done, but even that I try my best to avoid. I prefer to focus on the kind of things/change/impact that I want to see happen in the world.
The world is generally big enough to make some kind of business impact, there will always be competitors. Just like there are multiple pubs, bars, restaurants and supermarkets in every town and city of the world.
Thank you for your thoughtful answer rosiesherry!
How do you evaluate business opportunities to compare which one to pursue? Solely based on size & urgency of the problem you're trying to solve?
Thank you
I get to know the market, only work in markets that I am interested in, make a judgement based on my acquired knowledge on whether I feel there is market.
Then make something that stands out from others.