A little competition never hurt anyone. Right?
Whether you accept it or not, your startup has competition. Right now. If people are not using your product or service right now they are using something else. That’s your competition.
It’s good to know your enemy well enough so you know what strategies to use and in which areas you have the greatest strengths (e.g. speed of execution, team dynamics, technical expertise, and validated assumptions) and soft spots (e.g. tight budget, non-viral product, and unclear pricing strategy). Your competition has soft spots too (e.g. corporate bureaucracy and multiple project priorities) so don’t think them invincible and psych yourself out. You got into the game for a reason. You have vision!
Remember to keep your game face. The competition only gets worse. But don’t worry, that’s a good thing. It means you have a population that wants what you have to offer and other players want a piece of that population. Be sure to act quickly.