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Don't compete on price, unless it is by raising it. You do not have to compete on number of features to make your product saleable. Most customers do not buy
by patio11 11y ago
Don't compete on price, unless it is by raising it.
You do not have to compete on number of features to make your product saleable. Most customers do not buy most products because they have more features than competitors. There's some minimum quanta of utility your product has to have. Almost all SaaS entrepreneurs overshoot on that -- by lots in many cases.
I'd suggest, broadly, finding a take on the market that your competitors don't have yet, whether that is a use case, a customer group, a channel, etc that they haven't utilized, and build that.
Strong recommendations that you a) try soliciting customers for your eventual software before it exists to see whether you're able to find customers for it, b) not build any software you cannot find customers for, and c) pick something with a price point which gets you to at least $50 a month and hopefully as far above that as you can. This is from ~10 years of experiencing the brutal, brutal math of trying to count to $10k in increments of $30.
- shubhamjain 11y ago> You do not have to compete on number of features to make your product saleable. Most customers do not buy most products because they have more features than competitors. Although it seems logical that people would be willing to pay for something that provides value but won't they (at least try) to see similar alternative before they start paying? I listened to a podcast by Rob Walling, in which he speaks how there was considerable churn because people weren't able to differentiate his product (Drip) from Mailchimp. Surely, I can't put myself in the shoes of a non-technical buyer, but first thought seems to suggest me that if you start building a A/B testing software for a niche segment, first question you will have to answer to potential customers is how is it different from VWO or Optimizely.