In startup world, we expect entrepreneur to be obsessed with his/her own products or offering. But what does it mean when you are falling in love with your competitor’s product?
No, I am not talking about phones here, but I think this would be applicable on them as well
Few things to infer:
- Product you are building is not what you want
- Either you are not communicating well to your team about the product you want
- You don’t have a great team in place to translate your idea into a functional product
- Competitor have nailed it. They have a product which their competitor’s like.
What can you do now!
- Work with your team and get their feedback. Do they feel good about competitor’s product too?
- Analyze competitor’s product and figure out what makes their product better.
- Before you start filling gap, think if you should continue moving in the same direction ( because customer have nailed it) , choose a new one OR augment your existing one.
- Hire appropriate guys if you need to.
- Do not let competitor’s product go out of site….you can learn a lot from them.
Have you been in love with your own competitor’s product? How did you dealt with it? Add your comments below.
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