What’s your idea?
Starting up a new business is a daunting prospect at the best of times but if your chosen sector is completely dominated by a few big brand players it can make your task appear even more difficult. Being a tiny fish in a huge competitive pond can be a frightening thing indeed. Yet when Mark Zuckerberg had the idea for Facebook, the social networking sphere was already dominated by big players such as My Space. Few would have believed at that time that he could take them on and surpass their success but that is exactly what he did. MySpace recently announced that it is launching a Facebook type ‘mashup’, or in other words the once dominant social networking brand is now found itself trying to copy the relative newcomer.
This should serve as an inspiration for any new business. However, while ambition is a good quality for any start-up, that alone will not guarantee success. So what does a new business need to do in order to become a big player in its market?
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