I remember a few years ago when the satchet water business 1st started in Nigeria. It was applauded as good initiative and within months several satchet water companies had sprung up in different parts of the country. I keep wondering if the company that started it 1st made any money.
If your business is easy to copy by competitors, you will find yourself constantly on your toes, fighting of competitors. For that type of business, the best way would be to flood the market with your product so that before your competitors come in, you would’ve at least made some money. To sustain your business for a long time, you have to build into your product or service elements that make it difficult for competitors to imitate.
For example, if you package rice in small satchets, you could ensure that no other firm can be allowed to package rice like that, or if it’s a particular rice, you can buy up the import license or distribution license for your country. Then you can register your trademark, and patent your process of manufacturing (if its a new method). Then you flood the market.
Don’t forget to get the basics right, make sure your product is good because it is only good products that are imitated.
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