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My best advice is to research competing products and what people have to say about them. If it's a physical product, Amazon reviews are an incredible resource.
by nickelcitymario 3y ago
My best advice is to research competing products and what people have to say about them.
If it's a physical product, Amazon reviews are an incredible resource. If it's a digital/software product, use Google to search for "Alternatives to X", and then research each alternative. Again, look at what people are saying about the product.
What you're looking for is a gap in the market that your product can serve. If everyone is complaining about price, is your product cheaper? If everyone is complaining about complexity, is your product easier to use? If everyone is complaining about a lack of features, does your product have those missing features?
You don't need a product that solves every problem for every person. You're looking for a few key problems that you can solve better than anyone else.
If your product doesn't solve any problems better than the competition, move onto the next idea.
- mr_o47 3y agoThis is great advice and i love this idea and one thing that scares me the most is that what if it’s already done before then i change my perspective i think its good to compete as its healthy for business
- nickelcitymario 3y agoAbsolutely. As long as you're doing something that solves some problem better than the competition. For example, some might argue that Apple products are the best. Others might say Dell or LG or whatever. But there's no product out there that solves everybody's problem perfectly. Even if Apple really did make the best computers, we can probably agree there's room in the market for cheaper products. But if you're trying to sell a product that isn't better in some way, you're going to have a hard go of it. Your product needs to be the best solution for some segment of the market, even if it's a niche slice of the market.
- mr_o47 3y ago100 % agreed with you on that