We didn't think we were the only team developing a product to solve the same need, did we? well,...maybe we thought we were super-smart asses for a while but then reality kicked in.
Of course there is competition and we have to deal with it! But there are many reasons why being a fast follower might be good, see fast follower, first mover disadvantage (by John Greathouse). Sometimes we let the great stories set false expectations of an easy way. We should be smarter than that, and the sooner we realize it the better we'll be. In fact, our team is composed by former athletes and competition is not a novelty for us, we just need to adjust. And if we ever feel too far behind, there are some words from Mark Suster that I'd like to remember (see his post, definitely worth reading: "Startups are all naked in the mirror")
“Look. I know that you keep reading about how our competitors seem to been going from strength-to-strength in the press. I know that we’ve made some mistakes. I know that we haven’t brought in revenue as quickly as we had hoped. I know it sucks that we had to reduce staff.
But here is the problem. You’re only reading our competitor’s press releases. Your reading the good stuff. And you’re looking at ourselves naked in the mirror. You see all of our flaws. And I acknowledge that there are many. But when you see them they’re wearing their fancy outfits, look stylish and ready to go out on the town. They’re masking their internal flaws. And you know that they have many flaws, too. I’m betting more than we have.
I promise you that inside their offices they’re reading our great press releases, wishing life was as easy for them as it was at our company. They’re looking at themselves naked in their mirrors, too. Believe me. They haven’t hit their revenue targets. They’ve had staff defections. They’re working evenings and weekends.
You need to stop comparing our internal issues with their press releases. Every company has growing pains. Every competitor is resource constrained. We’re all scared that the next round of funding won’t come.
So please try to keep your confidence. We’ve assembled a great team of people that are each expert in what you do. If we all stay focused on serving our customers and delivering as best we can every day then we’ll be fine. The minute you lose confidence we’re finished. Bad morale is the enemy of any company let alone a start up.”
by Mark Suster
Scout Scout Scout ! Not just competition but also getting feedback from users and clients, Now ! It's the only way we can keep moving forward.
Have a great week ahead - Fredi :)
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