Well, that is a really hard question.
I think you should consider this:
- Do you have any way to make your company different?
- Can you contact some respected member of the niche your company is aiming at, and convince him to start using your product, and endorse you?
Usually smaller companies can offer a better service, to a smaller niche of users, so you can focus in a small sub-niche of the customers, and work with them, that can work for you if you manage to stay small, bigger companies can't afford working with small customers, as they can't break the even point of revenue.
Try to stay out of any strategy that involves money, as your competitor has more resources than you. Focus on personalized service, if you can afford that.
- Do you have any way to make your company different? - Can you contact some respected member of the niche your company is aiming at, and convince him to start using your product, and endorse you?
Usually smaller companies can offer a better service, to a smaller niche of users, so you can focus in a small sub-niche of the customers, and work with them, that can work for you if you manage to stay small, bigger companies can't afford working with small customers, as they can't break the even point of revenue.
Try to stay out of any strategy that involves money, as your competitor has more resources than you. Focus on personalized service, if you can afford that.
Or, start looking for a funding partner.