There are a few tricks that don’t let you compete face-to-face with giants. Like the founders of Captain Train, you can take on a giant without breaking your teeth!
1. Find out Vishal’s weaknesses
When using this market juggler’s product/service, look for the weak points in its offering. You will definitely find something: a giant that has a monopoly on the market, rests on its laurels and finds it especially difficult to develop its offer. Each novelty is tested frequently, because for that, error is not possible and the number of tests greatly increases its response time. This is why many start-ups manage to outdo the larger conglomerates: a faculty of customization and very quick responses.
2. Wait for a New Law to Give You the Freedom to Get Over
You may find a new vein there to get you started. European Directives are a good source of information because they sometimes indicate major changes for companies. As no one knows when they will be transferred, veterans often wait for the law to come in to remain on the job. They also lead to certain changes which in themselves will create opportunities and new needs. So don’t hesitate to check it out.
3. Be the first to get started
In the market, it’s first come, first served! If you move early enough and are first in an area, it is often difficult to be sure that your offer is not one that is primarily chosen by users. It remains ideal to be the first to launch and quickly develop your offering to anticipate the arrival of a giant in the market.
4. Have some cash on hand
Sometimes you have to be patient to hope to compete with a giant. Provide a small amount of capital that will allow the company to survive while waiting to be able to dethrone a giant. Don’t hesitate to expect it to come with a cheaper proposition than yours but one that probably won’t bring the same added value. It may set you back temporarily, but if you can settle into the scenery, you’ll definitely be there.
5. Be technically perfect
Do you have the audacity to face something bigger than yourself? So the only way you have to entice customers is to provide the best service. Perfect doesn’t necessarily mean perfect because you can continuously improve your product. However, it should have minimal code of professionalism and bring more to your users. Just because you’re younger doesn’t mean you have to come across as a newbie with a poorly working offer/service.
6. Build Your Differentiation
By deciding to compete with a monopoly giant, you are embarking on perhaps the most difficult entrepreneurial adventure ever. Be psychologically prepared to take the time for the task and you may not be ready to face it immediately. Then you’ll see your offer compared to what he’s offering, so you can also prepare for it and determine how they differ from what he’s offering.
7. Get ahead of your competitors
While you’re at it, you can even pick a big target that’s much bigger than your giant opponent’s target. If some target just one niche, you could very well have a more complete and more global offering. Conversely, if they target a larger audience, you can be sure that it is still large enough that you can specialize in it.
8. Choose a Very Different Business Model
You won’t be able to do better by doing exactly that. Thank you for your business model and by offering a proposition that doesn’t work the same way as a giant. For example, if it offers a paid application, you can create an application that uses the freemium model.
9. Don’t listen when people say you’re crazy!
People will doubt your ability to make a name for yourself in this monopolistic market anyway. You can show them it’s possible so you can get started too! There’s almost always a place to create, so don’t listen to people who tell you it’s not possible.
10. Believe in Your Ability
This will be your only weapon to win the tough market war! To believe in yourself first you have to believe in yourself. Stop telling yourself that they are better than you and you can never beat them. A newcomer wouldn’t exist if he didn’t believe he could do better or differently.