My competitor just got acquired, and I'm still in startup mode. Is the writing on the wall?
I've been struggling to get my business going for the past few years, but I've been handicapped by a lack of funds and resources. Now a competitor has been acquired and, with new resources, has announced projects I've had planned for more than two years. I still have one project in my back pocket but no money or resources to execute. I've heard of similar setbacks happening to other entrepreneurs who have gone on to do amazing things. I'm trying to decide whether I should keep pushing or if I'm just in denial while I'm racking up debt.
Position yourself for growth in 2017—join us live at the Entrepreneur 360™.
Flash Sale—save up to $200 on registration. Ends Thursday. Secure Your Seat »
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.