#RuggeroRespigo on #Reddit #stockmarket Should I still launch? Someone else is doing exactly what I wanted to do. I had an idea for a monthly subscription box type website.I registered the domain, worked out payment methods, bought a bit of stock as a test, designed a logo, started designing a store on Shopify... and then last night I found out someone has very recently launched exactly the same business idea.Do I keep going?Some more info:I live in South Africa so the market is already smallBut having said that, this subscription box idea is aimed at kids, and is fairly general, so its a smallish overall market, but not a very niched product.The other person who started the website has another subscription box site, and can cross sell.Her site is quite good, there are a few things I would improve on and I believe my service would have more personality, but its not like shes doing a bad job.Her monthly cost for the service is a bit cheaper than I would have charged, but her products that shes offering are not as good as I ones I was considering doing.I could keep my base costs quite low. I will design and manage the site myself, theres no real cost except time and a Shopify subscription. I would need to buy a bit of stock, but not huge amounts.So, whats the rule of thumb? Do you give up on an idea just because someone else is doing it? Im feeling quite deflated.
Posted on: Thu, 23 Oct 2014 09:22:17 +0000
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