So you think your start up has no competition?

This piece is derived from Vitaly Golomb’s talk at Startup Istanbul 2014.

You also have to take a look at how this problem is currently being solved.The biggest mistake is when startups say we have no competitors. Well congratulations! You probably don’t have a business. If nobody’s trying to solve  this problem right now, it’s not a problem.Right,it can be solved in different ways, it doesn’t necessarily have to be solved exactly the same way you’re doing it. You have to prove that your way is actually innovation and have a big advantage there.Like I said no competitors,no problem  no market,no business. Don’t make this mistake. Now you have to be able to look at how this problem is being solved. Is it different? Is it hard? Is it an expensive? Is it painful? How are you different and better? Not just different for the sake of being different but different and obviously much better. Generational difference,paradigm shift better.  ]]>

─ January 14, 2016