Please imagine this scenario for a moment:
- You've got a great idea for a software product, and research indicates you've got basically no competition because your product has unique features that make it highly desirable. You are hyped; you begin coding and begin registering a business to sell the software. You'll release v1.0 in eight weeks.
- One week into the project, you're on the verge of racking up necessary costs, and you see an announcement that a new competitor has just released basically a clone of your killer product.
What do you do now?
My first reaction would be a bad word, quickly followed by thinking about what competitive edge we still have that will allow us a good chance in a stand-off. What else?