What would you do if you see someone having the EXACT same startup idea you have?

[Wet Squirrel]

So I have been hard at work over the last 2-3 months creating my new website.

Today I decide to google and surprise surprise. I see another more or less same site with the same idea.

No doubt the idea isn't novel, but the timing of his launch and mine just sucks.

to add salt to the wound, how I found out was a press release saying he got 500k in funding

what should I do? I've already invested about 10k in this and my time and effort, and I've left my job for it...

 

[lozina]

Do it. And do it better than the other guy.

 

[Cattlegod]

does it depend on a network of people? if not, you won't have to worry about first mover advantage. just make a better product.

 

[Leros]

Not too late for murder....

 

[AreaCode707]

Have some ideas he doesn't? Partnership opportunity?

 

[MrDudeMan]

You don't have to be first. You have to be the best. Assess the viability of your plan by figuring out if there's still market share for you to grab. If not, hang it up and cut your losses. Otherwise, keep chugging and do a great job.

 

[ShagglestheLion]

He's your worst Rival.

Remember, the PC market?

Is is a proprietary market? Is their Competition?

Always!

 

[ShagglestheLion]

don't get mad squirrels.

get glad.

 

[uclaLabrat]

First to market is hardly ever best, the issue is resources. Come up with a compelling story and find some funding.

 

[Craig234]

Depends on the situation. Can you compete? Join? If not, abandon.

 

[Craig234]

I had an idea about making virtual Museum tours from Museums around the world available on the web. In the last week heard on the radio someone is doing it.

Not that it was very practical - need a lot to make a product like that. I do have another, but also would need a lot of resources.

 

[Red Squirrel]

First mistake was leaving your job for it... yeah that gives you more time but that's a huge risk. I have a bunch of ideas myself and chances are I could execute them faster if I left my job, but just not worth the risk, and still need the cash flow meanwhile.

What I would do is keep working on it and making it better. Let him launch, then any flaws/issues he runs into, make sure they're fixed in yours. Then launch yours with all those fixes. Though, on the other hand, if you can have it pretty much ready now and his is not launched yet may not hurt to launch before so it does not look like you copied on him. Either way, what I'd be worried about at this point is patents. He might just patent the idea and you will have to stop it completely. All that work for nothing.

Murder is always an option too. There are many species of mushrooms squirrels can eat no problem, but yet can kill humans. These can come in handy. Check your stash.

 

[Rakehellion]

So I have been hard at work over the last 2-3 months creating my new website.

Today I decide to google and surprise surprise. I see another more or less same site with the same idea.

No doubt the idea isn't novel, but the timing of his launch and mine just sucks.

to add salt to the wound, how I found out was a press release saying he got 500k in funding

what should I do? I've already invested about 10k in this and my time and effort, and I've left my job for it...

You should have googled it before you built the website. Be more original next time.

 

[manimal]

If the site deals in depravity you should be ok. Just so you know everything has already been done so one more competitor shouldn't matter. Really if your product/ service isn't better than it wouldn't matter if they came before you or after you.


What doesn't kill your business makes you stronger.

 

[DrPizza]

Perhaps someone heard about your idea and didn't think you were seriously going to follow through - they saw the potential and went for it. For example, someone posted here about an insurance comparison site about half a year ago. I started a thing on kickstarter & found some other financing and have about half a million to invest in it now. Amazing to think that there wasn't an independent insurance comparison site before - I think that's because so many companies tell you that they'll compare the rates for you. Obviously, they can change trivial aspects of coverage to game the system and show you genuine rates and how theirs is better, but they don't show you that if you changed the deductible with both companies to a different value, that suddenly the other company would be cheaper.

But, an insurance comparison company - for homeowners, car owners, etc. - and one that will figure out the final savings when you bundle everything together - truly a brilliant idea.






( j/k )
Would you like me to merge your two accounts? If you want me to delete this post to keep the idea a secret, just shoot me a PM. Though, the idea was posted and is still there under a different account name which I assume is also yours, so it's not like it's a secret idea at this point.

 

[Wet Squirrel]

lol I forgot about that account.

no wonder, I have also another account wayy back from '03 but I think it got deleted when we were supposed to update our password when the forum moved servers or something a few years ago.

could you merge the last one with this? I like this name better

 

[DrPizza]

Done. (Merged)

 

[T9D]

Couldn't even come up with a unique username either. We already have a squirrel here.

 

[inf1nity]

i'd call Leonardo DiCaprio :sneaky:

 

[Markbnj]

First mistake was leaving your job for it... yeah that gives you more time but that's a huge risk. I have a bunch of ideas myself and chances are I could execute them faster if I left my job, but just not worth the risk, and still need the cash flow meanwhile.

You'll almost never make it this way. I'm not saying never, because if you are inventing something really valuable and proprietary then it doesn't matter whether you do it full-time or part-time, as long as you eventually get there. But for the large majority of new business ideas, trying to get it off the ground while keeping the day job is just a path to failure. If you don't believe in your idea enough to take the very real risks, then why should anyone else?

OP, you obviously should have found this competitor before getting this far down the path, but it happens. What you have to do now is evaluate the situation cold-heartedly. How directly do they compete? How far ahead are they? Do they lack critical parts of the solution that you have? Can you catch up? Competition is going to emerge eventually in any market. If, as someone else noted, this isn't a "there can be only one" market like social networking, you might still be able to make a go of it. Grab enough market share and they might even buy you. But the bottom line is that the risk just got riskier.

 

[manimal]

I started a thing on kickstarter & found some other financing and have about half a million to invest in it now. Amazing to think that there wasn't an independent insurance comparison site before - I think that's because so many companies tell you that they'll compare the rates for you. Obviously, they can change trivial aspects of coverage to game the system and show you genuine rates and how theirs is better, but they don't show you that if you changed the deductible with both companies to a different value, that suddenly the other company would be cheaper.

But, an insurance comparison company - for homeowners, car owners, etc. - and one that will figure out the final savings when you bundle everything together - truly a brilliant idea.
.

Bravo Sir!

Cant wait to see your site!

 

[nanette1985]

As a long-time web marketer, let me tell you that it's a great thing to have this kind of competition. Watch them closely. Let them make the mistakes. Learn from them. Who aren't they serving? There's a good niche. There are a lot of customers out there in the world.

It's a good marketing angle to be the lower fund competitor to someone who's got a ton of money.

Best to you. People with a lot of funding money often just throw it around and hope that something sticks. Smart web marketing uses creative thinking. For example, some business blog or publication somewhere might be happy to feature the story of your situation

Don't worry about this. I'm sure you have something that sets your idea and your site apart from a competitor. Relax and use them as a resource.

What took you 2-3 months to create your website?