What to look for when assessing whether an emerging company has got what it takes to succeed.
Small companies looking to compete with large, established incumbent players need an edge. Customers are more likely to look at unknown brands if they feel the product offers a benefit over competition, is easy to use and increases efficiency.
Operate in existing markets
It is generally harder to persuade customers to buy a product for the first time. Being the first product to market can offer greater upside however it also increases the risk of failure. Many of the more successful technology companies have offered a new twist on existing products and have eventually replaced the incumbent market leader; Microsoft (IBM), Google (Yahoo), Apple (Nokia), Facebook (MySpace), Uber (Halo).