One advantage of a legacy software / SaaS business is vendor lock-in and the conveniency hurdle. So it is easy to retain existing customers. And if you are the

One advantage of a legacy software / SaaS business is vendor lock-in and the conveniency hurdle. So it is easy to retain existing customers. And if you are the first in the market, you might have enough customers so that your business remains profitable for a long time, even when your growth is stalling because of new competition. But I don't want to be pessimistic. Because there is no excuse for not having tried to build that business.