How To Battle Giants In Business – And Win

Published by Forbes


There’s nothing more inspiring than a David and Goliath business story, where the underdog startup succeeds in a world ruled by corporate giants. But what makes an entrepreneur even think they can crack a market dominated by heavyweights, and more importantly, how do they do it?
Personal ancestry is big business, with global interest fuelled by TV shows such as Who Do You Think You Are? The market for personal DNA testing services is growing rapidly, and in the UK, is dominated by a handful of multi-national companies, including 23andme, Quest Diagnostics, and AncestryDNA…

…CEO Doron Cohen says: “Covercy offers quoted, guaranteed rates which through its own, unique algorithm, meaning businesses know exactly how much their overseas transactions cost before committing to use the service. With a traditional bank, they won’t know until they’ve actually made the payment how much it will cost their business”. Key to their successful market entry was the knowledge that SME owners felt that offline cross-border payments took too long and were far too expensive. Covercy focused on building an online service that challenged their perceptions of the market…