New businesses must work extremely hard to break into their market, especially if their competitors are well-established. Your competition already has a customer base and reputation (good or bad).
New businesses have to find their USP (unique selling point) and provide over-the-top service! When new businesses prospect customers, they soon find out if their prices and services are competitive. They might even think of offering gifts or free services to entice customers to try their business.
If your competition has an outstanding reputation, it will very hard to persuade their loyal customers to switch to your new business. By working hard to outdo your competition, you will be building an excellent reputation for yourself!
I often say, if I can’t be my customer’s first choice, I want to be their number two, because when their number one drops the ball, I’ll be there to pick it up.