When a startup enters an industry, there must have been giant businesses that were already operating in that industry. Is there a way that the small startup can compete and attract customers from the big giant businesses?
Is it really possible for startups to compete with big established businesses?
- Thread starter Fidelia
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It is very possible for small businesses to compete with the big businesses if they can carve out a difference to it's products that the big businesses don't have.
lt's very possible my friend. However that's depends on how the new business had equipped themselves for that matter.
The startup can offer better customer support, most personalized service and target smaller businesses, which large companies are often not interested in dealing with, since small businesses cannot spend more.
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It is very possible because I have seen it happen several times, but it does not just happen in a day, it takes hard work and consistency to get to this level.
Yes! It is possible. A startup may target an area where the big company is not doing well and capitalize. Assuming, the big company don't have good customer care service, a startup may use it as a point of attack. Business is all about innovation and creativity. Whether your business is a startup or big company, what you bring to the table is what matters most.
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If we compare a startup compete with a big established business then it would be like if I challenged heavyweight champion Tyson Fury (WBC) with a boxing challenge, with one touch I would be knocked out. Business competition means selling/making the same product and meeting in the same market. If the product is different, it means not competing. So for you as a startup, you should look for new target markets, innovate products so that they are different and have product advantages
For me I will write coexist not compete at this initial stage as the established business must have took years to get to where they are.
You can still have the same market and compete favourably with an established business. It takes sheer determination and strategy. The startup has to explore the weaknesses of the established business and offer something superior.
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Business startups can indeed use the same market as established businesses, but must have different characteristics or be of lower quality than products from established businesses. Like Xiaomi smartphones, even though they have the same features as Samsung, Ziaomi's price will be much cheaper so it has its own market share.
Sometimes it is about believing in your craft just try out your skills and see how it goes.
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Small businesses and start-ups can often compete with larger and more established businesses. For instance, a small coffee shop in a different town that is doing exceptionally well compared to an established coffee shop. This small business has managed to win over customers with its excellent coffee that is not only of better quality but also more affordable.
I have seen startups give established businesses a run for their money. They really focused on building relationships and swept the entire customers in the market with that.
They can try it out and see how it goes. first, just try to be in competition with yourself and succeed at it before competing with others
