Our company has no competitors

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Venture capitalists often hear this phrase when they hear a pitch from yet another startup: “We have no competitors, no one else does what we do.” The first question that immediately arises is, “Have you tried Googling?”
This looks especially interesting given the real lack of any analysis of the competitive environment - many startups believe that if they offer a social network for lovers of chili peppers or sporty shopping carts, they will immediately eclipse all other social networks with their success. For them, Facebook, Twitter, Vkontakte, etc. do not exist - they consider them wildly inconvenient, and most importantly, large and unwieldy companies that cannot follow the wishes of their users. But a new social network should “get around them at the turn”, providing a fashionable design, photo filters, etc.

It is important to understand that there are always competitors, and when there are none, you should simply think - why? Maybe the market is not so interesting to other players? Imagine yourself in the place of a venture capitalist, would you invest money in a company operating in a small, uninteresting market? That's right, we are talking about the same thing.

Competition is also a motivating factor for the team itself - constant direct moving leads email lists competition with other companies will keep you on your toes, better understand the market and build a benchmarking system. Again, if you have someone to compare you with, it will be easier for investors to come to a decision to invest in one of the companies.

But even if a miracle happens and you have a truly unique idea with very good prospects, prepare for war with competitors immediately - if the market is really interesting and lucrative, they will not keep you waiting long.

Of course, in Russia the competition among young IT companies is much lower than in the USA and even in Europe.

German Klimenko, the founder of Liveinternet, believes that in his practice he has not met a single applicant whose project did not have more or less successful analogues.