Dear Entrepreneur,
Never underestimate the competition. Don’t think you’re the only startup doing what you do the way you’re doing it. Don’t even think there are only a few dozen startups competing in your space. There are hundreds, literally. Chances are that every day, you’d read about another entrepreneur starting a company that is more funded than you are, and chasing after the same customers as you are.
Literally, almost, every other day, you’d read about the new competition. Sometimes, it could be an existing well-established company coming into your space with so much money to throw around. So, don’t assume your business idea is novel, and thus unique or special, and in a class of its own. In fact, there are, and should be lots of startups going after your market every single day, and guess what, it’s a good sign.
With love,
Chidi