My competitor just got acquired, and I'm still in startup mode. Is the writing on the wall?
Opinions expressed by Entrepreneur contributors are their own.First off, I'd say stop "competing" and start being unique. What sets you apart in the marketplace that you can use to leverage existing resources or assets to your target market?
Also, start looking at your "lack" in a more flexible way. Is there a way to leverage current resources at little or no more out-of-pocket cost? Is there an option for you to joint venture or cross-promote your resources with another company or companies to tap into a new or different market?
If you are clear about your end result, it doesn't matter how you get there. And who knows? By getting your own products in front of new audiences, you may find yourself the target of a buyout down the road.
All the best.