it is hardly an one month old website and completing against websites which are online from at least 8-12 years. the main keyword has competition around 25,800,000 in Google. What should be our ideal strategy for this website? Please post your suggestions
I would say for now your strategy should only be to get on page #1 if competing with really authoritative sites/competitive niche. And then based upon your learning and better understanding of competition's SEO strategy you should make the plan for getting to the top #3 results.
Try to find areas where the competition is weak. Create quality content and tools that are not found anywhere else and go seriously link hunting for deep links (with varied and relevant anchor text ideally) to that content and those tools before the established sites can copy what you have done.
Rinse and repeat.
Target long tail phrases, especially if you can find phrases that the existing sites are weak on.