I Found a Business That Does the Same Thing as the Business I Want to Launch. What Should I Do?

Someone on Quora asked:

I am working on launching an online menswear retailer which will sell ethical and sustainable fashion from emerging designers. It is all in motion now, but last night I came across a business that does the exact same thing as my proposed business, and they have been trading for a couple of years now. What should I do?

This was my response:

I wanted to open a pizza parlor. Soon after, I realized there was a pizza parlor, actually many of them in my city. What should I do?

Analyze the market and figure out why yours is better. Then showcase those unique points, build up hype and open your pizza parlor.

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Leonard Kim consults startups and write books. He also blogs at LeonardKim.com.