In the US alone, around 627,000 new businesses open each year across a range of industries. And that figure is expected to grow in 2021. Virtually every startup is met with intense competition from the outset, especially if you are working in a nascent but potentially high-growth industry. To succeed, you need to find a way to stand out from the crowd.
The elusive ideal is to begin with an idea that is entirely unique, to follow a blue ocean strategy. You need to make sure that your products and services cannot be bought anywhere else – as this gives you an edge over your competitors and can help you draw in new customers rapidly.
For example, ScenarioArchitecuture, a residential architects company, stands out from the crowd due to their unique take on architectural builds and restorations. This is because they work based on their client’s visions, as opposed to their own ideas.