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The things about SaaS is that it is as easy to do for others as it is for us. So if we think that something was sort of easy to build and get loads of money for
by lbriner 6y ago
The things about SaaS is that it is as easy to do for others as it is for us. So if we think that something was sort of easy to build and get loads of money for, then competition is inevitable. There are a few ways to survive the competition:
1) Do something that you have special experience or skills in so that not so many people could copy it if they wanted to. Maybe you know lots about the financial markets or aerospace.
2) Go into a specific market that the General Practioners (especially the Unicorns) are less likely to target. For example, UK Healthcare or German Finance, which could be super-targetted at the niche and provide a lot of value for money, even over a relatively small number of customers. Some finance software houses only have double-digit customer numbers but very high markups.
3) In some cases, solve a problem in a novel way that once people get hooked into it, they cannot directly compare you to the competition. If it looks just like a t-card task system, it is easy to compare. If you give the entities different names and have a workflow that solves the problem in a roundabout way, maybe people won't know that they could swap to Asana.
4) Add lots of integrations and make it really sticky with people's other systems. Many customers today will literally choose a supplier based on whether they offer a Salesforce integration or not (even if it doesn't make logical sense for your product!)
5) If you really want to go big, you have to go early, well and fast! AOL and Yahoo might have gone early but not necessarily well or fast. AirBnB went early, fairly well and fast. It sounds like Flow did not necessarily go very early, went fairly well but could not go fast enough.