Click to Print

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 chairman of Eugene, Ore.-Palo Alto Software, which produces business-planning software,
He founded Bplans.com and wrote The Plan-As-You-Go Business Plan, published by Entrepreneur Press. Berry is also a co-founder of HavePresence.com, a leader in a local angel-investment group and a judge of international business-plan competitions.