Building a Product that's already out
Yesterday I found a product that's pretty much the same product as what I am currently building.
I kind of lost motivation afters seeing this thinking, "if it's already there, why build it?"
What are some of your thoughts on building products that already have pretty much the same product you're building?
I always tell people this:
Google was not the first search engine.
Facebook was not the first social network.
WhatsApp was not the first messaging app.
The iPhone wasn't the first smartphone.
Enough said.
Bingo. An existing product could mean market validation is done for you.
I'm building a product that has many existing products, including one by Google.
Just because someone else already did it, doesn't mean you can't get your slice of the pie. There's plenty of pie to go around. If the market is large enough, scrounging for crumbs could be pretty profitable. ;)
Very well said! Thanks!
This comment was deleted 6 years ago
Go to the grocery and look at the bottled water section. You'll have your answer :).
Jokes aside you should still pursue your product if you think you can deliver value to your users.
You said "pretty much the same" so it's not exactly the same. This means you can differentiate yourself from your competitor. e.g. provide a service/feature that they don't.
So much truth to the bottle of water analogy. Also the chips section as well lol
haha great answer
Glad I was able to help :)
This comment was deleted 6 years ago
If your product is a good idea then there's almost always someone else working on the same thing. Competition can be a sign that you're addressing a real market. I wouldn't worry about it unless they're already extremely popular and you don't see any way your execution could be different or better.
Same thoughts I have.
Great point!
niche down, position differently, differiatiante . Competition is better then no competition and no demand. There’s a lot of ways to build and sell the same product, but talk to a different customer. I would not stop working on it if it’s something you truly want to build
Winner take all is rare.
There’s about 8 billion people on the planet.
Build it because you want to, & there is a need/want for the solution & you can reach your target market effectively.
Keep going and forget about the competition for now.
Good luck!
HTH
I asked this about a week ago and got some good answers. Check out that thread: https://www.indiehackers.com/post/what-to-do-when-your-idea-has-competition-22fb932dfc
Great share! Much appreciated man
Join them.
I am of the believer that there is always a market for new products (unless you're dealing in pretty niche category or target market is not big enough). Why?
The next step/approach is to identify 'right gaps' in what current product(s) offers, and set uniqueness of your product that resonate with the customers problems/aspirations.
My 2 cents
PS. I'm not affiliated with any of these products.
I've counted 14 other companies trying to solve the same problem I'm working on. I'm in the books space. Recommendations and social.
Each one I come across I get a little excited. I can see that the problem remains, the market is validated but no one has the right execution to hit critical mass.
Question you should ask yourself is do you believe you can execute better?
If your first thought when you see your competition is despair, that's not a good sign.
what you should see is how your product differentiates, why their product is inferior, why you will win. It has nothing to do with the idea, and everything to do with execution. Can you execute a superior product? Are you ready to fight for market share?
If your instincts here aren't a reactionary yes, you might be at an existential crossroad.