I am thinking of setting up an online company selling Greeting Cards and realised that I had competition in the way of moonpig.com, hallmark etc
Reading Yahoo answers there is another entering the market named CardJester
Do you think I should alter my card ranges or try a new business idea? I have done a lot of research into cards and wholesalers so starting a new business now would be time consuming
A Card Company named CardJester selling Cards Online?
If you have done your research, it must have taken into account the competition including the future threat possibilities too. We call this as SWOT analysis which stands for
1 Your Strength
2 Your Weaknesses
3 Your Opportunities
4 Your Future Threats
Try to research the competitors' weaknesses which can be your strengths. If I am right, cardjester.com can't be as big a threat to to you as Hallmark can be, so to speak.
You were, as it appeared to me, only steps away from making investments, so you shouldn't backout now supposing what you would have done if this situation were to arise soon after getting started. Good Luck
Contact me anytime for friendly advices.
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