The Brogue Hog

About the time you’re ready to start up a new business, you might just discover that someone else beat you to the concept. Then you’re hit with the question of whether you should compete with an established company or whether you should try to find another idea. Some people start companies based on their experience and training, so then they have to compete with the established leaders in their chosen fields. That’s not so bad. For example, suppose you decide to manufacture and market really high quality, energy-saving windows like those made by Penguin Windows. Maybe your design and manufacturing process will help you succeed.

Truth be told, many industries enjoy competition between startups and established companies. The established companies, however, may be able to draw upon their reputations and resources to provide competitive incentives that startups cannot manage to match. For example, Penguin Windows sponsored a 25th anniversary sweepstakes to help get through the Great Recession of 2008-2009. That was a pretty good marketing idea but could just any startup have matched it?

Of course, today’s business community has to look at the reality of the Internet,w hich can be a very leveling force. There are many business directories that will list established industry leaders like Penguin Windows as well as startups. Usually you just need to meet a few minimum criteria to be included in these business directories.

The continual entry of new businesses into established markets helps to ensure that consumers have choices and options. They also help inspire older companies to tighten their costs, lower their prices, and innovate new solutions and services to help retain their customers. Companies that don’t stay current with the times run the risk of going out of business. And as someone once said, the last company to manufacture buggy whips probably made the best buggy whips ever, but that wasn’t good enough to compel people to keep buying buggy whips. Think about it.