Should We Fear Our Competition?

If your business isn’t totally irrelevant or focused on such a tight niche no one would think of considering your business model, you do have to worry about the top players in your field. Those strong companies owning huge chunks of your market’s share and having dizzying budgets to play with in each department. While you choose field related events carefully, trying to maximize exposure and awareness and leads, they can go to all of them and be one of the big sponsors.

But is this reason enough for you to fear them? I’d say no and explain why based on an example. Company X is relatively a new comer in a certain segment of the software development market. An important partner of theirs tells them about this huge event they should take part in. Attendance isn’t cheap at all, but there are major benefits. They’ll have a nice presentation that can target one third of the even visitors, they have a nice booth and some promotion from the event organizers and a number of complimentary invitations that they can send out to their potential customers. Sounds like a plan! Continue reading

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