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How can I address, in my business plan, the threat that an established large competitor poses for my business?

Clearly, established competitors pose a threat to any new startup. I am working on a product for which there is a great need in the marketplace. However, if an established company sees my idea in the marketplace, likes it and produces a similar alternative, it would put me out of business.
Tim Berry answered September 8, 2008
URL: http://www.entrepreneur.com/answer/221615

Yes, you ask an excellent question, but not one for which there is some simple formula to answer. You have to answer it, though, or accept a lot more risk than you'd like.
 


You're the only one who knows your business, your plans, your resources .. if you can't come up with a strategy, don't expect any outsider can.

Tim

Tim Berry is the president of Palo Alto Software Inc., based in Eugene, Ore., which produces business planning software. He is also the author of 3 Weeks to Startup and The Plan-As-You-Go Business Plan, published by Entrepreneur Press.