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by DJN
6011 days ago
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It is easy to say "just go for it". In reality, it is quite risky. Theoretically, it is possible to unseat a competitor like Google in search, or Facebook in social networking, but you really have to know what you are doing. In your case, a better approach is to do some customer development first. Speak to potential users of your product. Find out if they are dissatisfied with your competitor's offering. What will it take to switch. After that exercise, you should be in a better position to make an informed decision. |
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Why does he need anyone to switch? This competitor has just launched their product. That means they have very few users and almost no brand recognition. 99.9% of the world will have no idea who launched first and won't care.
You don't need to convince anyone to switch from your competitor's product. You just need to convince people to use your product, which is a problem you already had. In that sense, the launch of a competing product shouldn't affect your roadmap at all.
Longer term, you should be worried about the huge imbalance in resources. That's solvable, though: if you get any traction with your product you can raise funds and hire a team.