Why are there so many companies that sell an energy drink? Why are there so many deli’s in New York City? How is possible for a Quiznos to succeed across the street from a Subway?
Competition. There are enough customers out there looking for something different. They are willing to try something just because it is different. They are looking for something that gives them a different feeling, something to tell their friends about, something that sets them apart.
A company does not have to be markedly better to succeed in a competitive market. They just have to be different. Different is good. Different is important.
As a hopeful entrepreneur, it is easy to be talked out of entering a market because there is too much competition. They’ll say that there is no chance for an online bookstore called Amazon to take on the retail giants. You’ll say, but we’re different.