Our startup is in semi-stealthy feedback mode, getting some tricky technology right. We are/were about to go live. A short time ago we discovered the launch of a competitor (would-be competitor, until we are both public). The competitor is very well funded, has mass market buzz, is well executed, well connected and has a much larger team. While not 100% identical, they are still a huge kick in the groin. We are not well funded, at a geographic disadvantage and have a small team. After the initial blind panic, I have been thinking about the options, and thought I would reach out for wider opinion. I have boiled it down to:<p>(1) Keep going, attempt to compete being the obvious underdog with many operational and financial disadvantages
(2) Pivot and focus down on carving a niche market with less mainstream appeal (get out of the way) using existing code, providing a niche with a better value proposition.
(3) Rethink the vision to make use of existing work in a totally different way
(4) Give up, move on (over my dead body!)<p>Any similar experience? How did you deal with it? Was the outcome successful?
I'm leaning towards (2)
Thanks, (long time lurker, first poster) Fossley.