Eduard JenaService Delivery Manager| SCCBucharest, Romania
Hello, Along with a few colleagues we are thinking of opening a remote project management and consultancy practice. We would only tackle IT related projects, and target start-ups or companies with mid-size projects.
We have done part of or research but I am completely lost at finding where the competitors are. I can either find the big players, with hundreds of consultants or the independent freelancers (on outsourcing websites). It doesn't seem to be any agency like the one we wish to establish.
I am surely missing something, but what? I am afraid we are missing something big, that could have proven our business model unrealistic. Saving Changes...
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Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
You have to use PESTLE analysis to define the macro-environment and Porter Five Forces to define the micro-environment. That will help to discover most of your competitors. But as a bug in software products forget about to discover all the competitors so the other must be manage as risks. Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
It sounds like you're working on your business plan. Sergio's suggestion is a good one: do what you can then manage the rest as a risk. Either your competitors will show up or they won't. Either way, you'll be covered. Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
I agree with what the gentlemen mentioned above. If you are targeting overseas remote projects, there will be high risk as people tend to lean toward dealing with local companies or remote ones but located within the country. Just my 2 Cents ... Saving Changes...
Eduard JenaService Delivery Manager| SCCBucharest, Romania
I am not yet able to run the Porter analysis as I have no idea who the competitors are and how many of them (roughly) might exist.
PESTLE is also inconclusive (yet) because the only risk, as you all mentioned, is the Social one.
But what makes me insist on researching is the fact that for 8 years we have been offering remote IT outsourcing (including team and project management with a distributed resource pool). The problem is that the client found us and not the other way around.
I managed the old situation badly, without expanding and only relying on one client. This proved fatal. I was a complete fool strategy wise (tho the projects themselves were all successes).
Lesson learned and moved on to learn more.
Why I need to know my competitors (besides the obvious reasons)? Because I need to understand how the customers find them (what do they search for in order to find them) in order to know how to promote our startup.
It would be easier, faster, cheaper to penetrate a market than to create one from scratch.
Indeed its a risk that might prove too much to assume. Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
PESTLE analysis and Porter have to be used when you do not know the competitors. You need to perform elicitation tasks. In the situation you expressed you do not need to know your competence. What you need is to work with your client. See selling methods like LAMP, Power Base Selling, Solution Selling. Saving Changes...
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