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When it comes to startup, is it better and less risky to enter into an established market?
When it comes to startup, I always see people run behind unicorn ideas which are many times overhyped or poorly implemented, is it less risky to enter into an already established market rather than creating a new market?
Because what I believe is that no product can satisfy 100% of its customers, so there is always room for improvement and customer acquisition?
Any thoughts on this?
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@thomas_jacquesson1 totally agree. Sometimes differing from the competition can really be in the details. Some users would choose you because you're not the competition. Some others just like the colours of your interface, the tone of your copy, the fact that you come from the same country etc... What's important is that you listen to your users well enough to be aware of this difference and if it comes often enough, value it and increase it if possible.
It would great to have a data driven story around this but my gut feeling is that the hights probability of success at least in B2B SaaS is within establised markets without clear market leader or by building killer feature to take customers from large legacy player. Note killer feature could simply be the price point all other things beeing equal.
@kimmohintikka1 yea. I think even better to compete with customer success by giving a human touch which most larger firms fails.
There are various entry points, basing your decision around market usually leads to better result that just ideas .
Just cloning unicorn ideas is never the right answer, although going after a space that is investable with something that can piggyback on the growth of unicorn idea companies is a great hack.
In case of steady markets, the only thing that matters is hyperfocus on your product offering, be it a open field or a space riddled with incumbents.
Check out my upcoming product on product hunt, it's a play in pseudo open field: http://vibecity.club
@parth_pratik yeahi was not saying about cloning an existing thing but to bring some new way to solve and make the better ones.
I see many attempts at solving problems which are not actually problems to begin with. The other big issue is people do not spend any time finding reasons why their project will fail and more time convincing themselves it will not fail. Only to find out after lots of work their project was going to fail anyway because they failed to see a fatal flaw why it won't be in demand after all.
Taplio