How To Beat The First Mover
When I work with entrepreneurs who are building the n-th CRM system, hotel booking site or ERP software I noticed they are too hung up on their competitors.
Because a proven market with a paying customer base is more valuable than building in a vacuum, how do you beat the first mover?
Create a niche product that doesn't compete.
- What is the specific niche your main competitor cannot address because of their current product focus?
- Why is this niche market in a lot of pain and more than willing to pay?
- Who in your direct circle is in this niche so you test your hypothesis before you build?
- When in your daily routine will you build your knowledge around this niche to make sure you have enough thought leadership?
- How will you create weekly experiments with your team to test the niche for pain, pricing and sensitivity?
If you are worried your competition will eat you for lunch, ping me for a chat.