What to do when you find an existing direct competitor for your business?🤔🤔
Suppose that you've been working on a business idea for the past month. You really do believe in the idea and know there is a market for it.
You researched competitors at the beginning, and find out that there is no direct competition that exists in the market but after giving some weeks into the project you found something that does almost exactly what you are trying to do.😟😟
Not completely identical, but close enough to make you throw your hands in the air and ask yourself if it's still worth pursuing!
When you run into a situation like this, which I'm sure is fairly common, how do you gauge whether or not to move forward? Or to abort entirely?