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The target customer are mid to large restaurants and bars. So, it could be a local idea but long term would be national. Seeing the same device/software at what
by justin0469 14y ago
The target customer are mid to large restaurants and bars. So, it could be a local idea but long term would be national. Seeing the same device/software at whatever restaurant you go to might be important and make it harder for me to have a piece of the pie.
My biggest concern is how important is it to differentiate myself? The competitors have had a working and refined product for months or years so chances are they'd have a better product. They charge monthly with no upfront hardware costs and have small trial contracts with Applebees, Chilis, etc.
I realize there's 100 companies that make toilet paper and most survive, I'm just not sure if that is an appropriate analogy.
- peterxy37 14y agoIMO, without differentiating yourself from competitors, you have very less chance of success. Probably you can provide product/service cheaper with same quality. As you are starting local, you could probably differentiate with better support.. toilet paper industry and software industry works differently . They have very different dynamics. You can not conclude anything in general from traditional industry for software industry.
- justin0469 14y agoI agree and that's the reason for my hesitation. Yes, I have ideas that would make it better than theirs. They just have a lot of time and money in their favor already. That being said, I know personalized and better support is worth a lot. Is it OK to flat out say that the plan is to be bought out by competitors because the products are similar?
- AznHisoka 14y agoYou are focusing too much on what to tell investors. Focus instead on your messaging to potential CUSTOMERS instead.