05/01/2025
Last year, I reviewed over 20 business plans and a recurring theme is startups listing giants like ShopRite or Trade Kings as competitors. While it’s good to aim high, let’s pause and understand what it takes to truly compete with such brands.
For starters, many startups focus too much on capital without prioritizing customers and data. Customer data reveals buying patterns, demographics, and trends key insights for making strategic decisions. For example, ShopRite doesn’t just count revenue; they focus on daily customer numbers. Their POS systems track customer purchases, enabling smarter supplier negotiations and a reputation for "Lower Prices You Can Trust."
Similarly, ZedMobile isn’t rushing to compete with MTN or Airtel. Their affordable K20 unlimited internet plan is about building a subscriber base, not immediate profit. With 500,000 subscribers in six months, they could attract investors ready to back their growth potential.
The lesson? Understand what it takes to compete before diving in. Build your foundation... customer base, data and strategy before aiming to take on the giants. Rushing into competition without preparation could mean rushing out of business.
