I was in a very similar situation. My site had launched at the same time as a competitor. There were already others in the field, but there was room for improvement, which both groups clearly recognized.
The competitors had amazing backgrounds, had raised funding, had a team of developers, etc. etc. etc.
For the first two years there visits weren't 1/4 of what mine was. There execution wasn't as focused. Somehow nobody had ever heard of them even though they were well connected in the Valley and NYC.
In the end, neither of us were commercially successful, but just because somebody is ahead of you, has funding, etc. etc. doesn't mean that it is a done deal. I was too far along to 'give up', but had I only been starting the project, I probably would have given up when I saw the 'firepower' these guys were supposedly packing.
A bit of a different perspective. Mull it over for a few days, and you may see a better opportunity.
Comments
I was in a very similar situation. My site had launched at the same time as a competitor. There were already others in the field, but there was room for improvement, which both groups clearly recognized.
The competitors had amazing backgrounds, had raised funding, had a team of developers, etc. etc. etc. For the first two years there visits weren't 1/4 of what mine was. There execution wasn't as focused. Somehow nobody had ever heard of them even though they were well connected in the Valley and NYC.
In the end, neither of us were commercially successful, but just because somebody is ahead of you, has funding, etc. etc. doesn't mean that it is a done deal. I was too far along to 'give up', but had I only been starting the project, I probably would have given up when I saw the 'firepower' these guys were supposedly packing.
A bit of a different perspective. Mull it over for a few days, and you may see a better opportunity.