fossley

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:

(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!)

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.