You Want to Compete with Your Current Employer
Between 2005 – 2009, there was a time my mum had lost 50% of her business’s market share.
During those days, she used to run a local bakery cooking mandazis and baking cakes.
She was successful in her own rites.
Her business was enough to make her fulfilled.
As the business grew bigger, she hired people to substitute her efforts. In total, she had a team of five – 2 marketers and 3 chefs.
One day, one of the marketers, out of salary dissatisfaction, decided it was time to start his own business.
So, being smart as he was, he quit without notice and started to cook one of the products he learned from my mum’s bakery.
You see, my mum used to cook great mandazis. People used to love them.
But this new competitor decided to cook ‘better’ mandazis.
He also decided to take advantage of his previous 50% market share he was supplying.
At first, customers could not differentiate his mandazis and my mums. And since he was supplying to the same clients, none knew what was cooking behind the scenes.
This hit my mum’s business hard – her revenues dipped, and she was so frustrated by this fact.
But soon, something in the market went wrong.
Clients made all types of aggrieved calls to my mum.
Well, on taking a closer look, the differences were clear as broad daylight. This gentleman’s better products lacked something in the recipe. The taste was off, and then he could not make proper sizes. His mandazis were small. Looks like he was greedy with the profits, or he had not mastered the art of sizing.
That’s how the gentleman lost his business and my mum’s regained traction.
The lesson in this section is, if you’re in an employment situation, be satisfied with your job.
Unless there is something unique about the similar product you’re offering that will give you a competitive edge. If not, be satisfied with your current position or negotiate your terms of service and continue searching for an opportunity in the market.
The bottom line, don’t try to start your business with malice to compete with your own boss.
Mostly, it never works.