3 ms·
Good article. This bit is interesting: The third downside is that, unless you can differentiate your product from what already exists, it’s going to be hard to
by kitd 5y ago
Good article. This bit is interesting:
The third downside is that, unless you can differentiate your product from what already exists, it’s going to be hard to find a foothold in the market. Given how many software products already exist, that’s a high hurdle to clear.
It seems to me that, in any particular domain where there are several or many competing solutions, each with small differentiations, each differentiation takes on a disproportionate amount of significance. So it is possible to make a business out of fairly small differentiations from normal. Eg, through integrating with external systems or better UX for common tasks. And even better, it is often the competitors that have done the work for you deciding which external systems need integrating and what the common tasks are.
Where the diffs are the USPs for all your competitors, it almost makes it easier for you to join in.
- tluyben2 5y agoAlso, most people should let go of the silicon Valley or US mindset that success means 'a significant portion of your target market'. We do not all have to or want to be billion$ company founders or grow fast or have many employees; it is fine running a small SaaS that gives you 500k-1m revenue/year and you run on your own. Maybe not in the US (I know too little about the Healthcare and litigation parts), but in the EU, you can live and retire as a king with those numbers (provided you don't do things that are too stupid along the way). With such a company, you do not need much to differentiate to get 1000+ paying clients: you just probably will never get to millions of clients, and that is OK.