The reason you want to go the extra mile in whatever you are doing is because that is the only way you can considerably increase the barriers to entry.
If you offer a service that can be easily replicated, you are surely going to have a lot of people competing against you and you will not make serious money. This is the reason so many ecommerce websites have sprout up around every nook and cranny of Nigeria; the barriers to entry is low.
Any smart kid with a decent laptop, internet connection and some money (as low as $30 or N5,000) can easily create an ecommerce website by using one of the 100s of free softwares out there. That is why anybody who wants to plug into the ecommerce space now must sit down and think deeply…
What can we add to our idea to make it quite different from others and ensure we have a barrier to entry in place?
Watching the World
- Talking of innovation and barriers to entry, check out WeGree a new startup that can help you handle some legal matters.
- While you are still debating whether or not to start your own idea, someone just launched Washist, without any fancy apps, thunder or brimstone. Just a simple service that (hopefully) works.
Do good stuff,
M.
