April 14, 2012

Startup Success Step #11

Some entrepreneurs, knowing their startup is going to go against formidable entrenched competitors, try to succeed by “flying under the radar,” hoping that the big guy (Unilever, Ralston Purina, IBM, Whoever) will somehow not pay attention to them and not squash them like a bug. Fingers crossed.

Not a practical strategy. A new venture needs visibility first and foremost, so it’s counterproductive to limit awareness or ambition. That is to say, it doesn’t matter how differentiated you are or how brilliantly you are positioned – if you aren’t reaching your audience with sufficient frequency to sell that message.

Someone at the Big Guys may well be paying attention to you regardless, so deal with it. Is your product or service good enough to compete with formidable competitors? Is your plan good enough to take market share from them? If yes, why be shy? If not, reconsider your venture.

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