[gregw100]

I would assess the strength and execution of your competitor's product, then decide whether you think you can build a better product. Google didn't quit building a search engine because Yahoo beat them to it. They just figured out a better way to do it. Depending on the potential size of your market, there may be room for multiple companies, even if you do come to market second.

On the other hand, one month's work is not very much and if you have another great idea in a more promising market, I would say get working on that and try to make sure you get there first. But, like I said, it's not when you launch, it's how your product compares with competitors. Just my $0.02.

[glimcat]

The surest road to "better" is often simply to optimize for a different segment of the market.

[gregw100]

True. And, if possible, eventually expanding into the original segment is always a possibility. It's all about finding an untapped niche or one that needs some new tapping.