Found a startup doing something very similar to my idea. How do I know if it’s still worth pursuing?
Hey everyone,
I’m currently validating a startup idea and recently found a company that seems to be doing something pretty similar.
I don’t want to share the exact idea publicly yet, but it’s in the B2B SaaS space and solves a workflow/problem that companies already handle in a more manual or fragmented way today.
At first I was discouraged because I thought: “If someone is already doing this, maybe I’m too late.”
But on the other hand, I know that most markets have multiple players, and competition can also be a sign that the problem is real.
So I’m trying to understand how other founders think about this:
When you find a competitor that is very similar to your idea, how do you decide whether to continue or move on?
Do you look at things like niche, geography, UX, pricing, go-to-market, customer segment, or whether the market is still early?
And how similar is “too similar” in your opinion?
I’m not trying to promote anything here, just trying to understand how to evaluate whether an idea is still worth pursuing when competition already exists.
Would appreciate honest thoughts.