Being in denial

One of the most common traps in early stage businesses, or even people with ideas, is underestimating your competition.

Clearbooks seems in clear denial about their competition, and is also, as a UK company, opening themselves up for challenge under their fair trading law. For the record Xero, which I use, has many of the listed items but its column has not been ticked. They have also been selective with what is in the column – I don’t see multi-currency for example.

While this might be a stuff-up, the lesson is to do regular surveys – I suggest systematically once a month – of your existing and emerging competition.

Published by Lance Wiggs