Competition is Good!
This may sound adsurd but believe me, entering a competitive market can be good.
A competitive market implies that a market exists and this fact already been proven by the players which exist before you. A competitive market must also imply that the market size is big as a lot of players exist in it. The biggest businesses cater to the biggest and most competitive markets. Also competition will always keep you on your toes, thereby making your startup lean and efficient.
If you look at the biggest internet space in India at the moment, it has to be the horizontal e-commerce space. Despite having the bigger players like Flipkart, Amazon & Snapdeal, you are still seeing a plethora of new startups entering the space (like Paytm, Shopclues etc.) and are scaling fast. This is because the market is big enough and growing at a rapid pace. The key to succeeding in such a market is by offering a superior experience and creating a distinctive differentiation for your brand.
Originally published at etrlearning.blogspot.in on February 22, 2016.