This is something that has really been a burden to me and I need ideas on how to come out of it.
A lot of people out there are also facing same challenges.
You can imagine successful setting up a business in a well suitable location and then just when you think things are getting better and enjoying your peace of mind. You find out that another person gets to set up the same business as yours very much close to you.
If this isn’t envy what else should it be call?
I mean you scouted the place and that is when others wants to buy in to the same idea.
Even if they want to start a business in the se location why the exact business some other person had on going.
Please I need ideas to be shared so one can find a solution to problems like this. And others who has intention of going in to business won’t be a problem or look like they’re being a competitor to the already existing business owners. this is the reason for this trend
As a business owner you have to accept that you will face intense competition if you are successful and able to make a lot of money. There's a few ways you can try to protect yourself, like using trademarks or patents to defend unique products or processes that you invented. If you're a website owner or do things like manufacturing artwork, then you should probably seek to defend your copyrighted works as well. Sometimes your brand reputation can be the distinguishing factor or a specific location can give you a slight advantage that will make you profitable compared to other people. It can be a good thing though, because failure to innovate can cause you to stagnate and having to deal with competition should revitalize any business.