David EirasMBA & Entrepreneur

Entrepreneur & MBA in the UK. Co-founder of Tinker Inc (IoT startup), Co-founder of JA Alumni Portugal, European Coordinator of JA's Entrepreneurs network, IT Integration & Data Analytics Consultant for multinational companies.

Recent Answers

As mentioned before, having competition is a good thing to the eyes of an investor. Moreover, it shows you've done some research.

Try to understand the apparently small differences between you and your competitor. E.g. Is he selling in the same region? To the same type of people? Approaching customer using the same means? All these can be used as a differentiation point, which could be enough for both companies to co-exist.

Also try to evaluate the size of the market: how big is it? Is it expected to grow? If it's a growing big-enough market, there's no reason why you wouldn't succeed as well.

Apart from these business concepts, in the end it all goes down to the specifics of your startup idea. Try to get industry-specific advice on that.

I'm going to assume you're a small group of people with experience working with BI tools, both proprietary and open-source.
First thing is to understand who your target companies are. For some reason you mention companies that currently have no BI (I'm again assuming you have a good reason for this). That's a good starting point, but not enough. You should at least segment down to industry/sector, eventually region as well. Then you'll choose 1 or 2 sectors to focus on and do research on problems/opportunities within those. This information is key to approach the companies with relevant information.
Then, you need to identify the decision makers within the companies you're targeting and prepare your pitch deck based on the industry/sector information you gathered before, along with a delivery plan and, most importantly, how much your enterprise customer can gain with that.

It's especially important to understand your customer's pains and gains, and that involves getting specific information about their business. I worked within BI in several industries, so if you need some more advice on that feel free to get in touch.

I have a good deal of experience in digital transformation, implementing data analytics systems for different business purposes. HR is probably a laggard in what digital concerns, but it's undergoing big transformations nowadays.

You might want to start your search by looking at Applicant Tracking Systems (ATS) for example. Even though acronyms and terms may vary in different regions, you'll find tools that allow you to measure a wide range of data in the recruitment business. There's several benefits to take out of these tools, ultimately leading companies to save hundreds of thousands dollars in recruitment activity, and considerably reducing their resourcing staff.

Feel free to get in touch if you'd like to know more about that.

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