Let’s face it, monopolies exist. There are companies that operate as a sole source within their field, and no one is stopping them.
Can you name a few?
EssilorLuxottica is one such company that was recently outed in the news. They handle the bulk of big name eyewear products.
Now, the question isn’t about becoming a monopoly. The question is, how can you compete and destroy the stranglehold these types of companies have in their industry?
The first step is to spot the field you want to enter. Where there is a need, there is a way. In the case of eyewear, it is as simple as upping your quality while offering reasonable prices.
Yes, if you create a comparable product and push it into the market, it is quite possible to bring some of that spotlight into your own offerings. People and insurance companies alike do not want to pay hundreds for something that cost much less to make.
Beat monopolies by getting them where it hurts. Value and cost.