Dealing with competition

You've probably read it somewhere, but I have to say that in the SaaS field nowadays execution of your idea and not the idea itself is the name of the game.

Therefore, I would say focus on improving your product in as many ways as you can and don't focus solely on development. Marketing plays a crucial role here.

By the way, is there a time discrepancy in terms of for how long have you and your competitor been on the market?

Think about why you built your platform. Think about what is you can do but the competitor can not. Start from small by focusing on the competitor's blind spot, grow as fast as you can.

My two pennies: even if your product and their product do the same thing, there is such a thing as healthy competition. If they have 100 customers and you have 1, that's a great start. I've found that building consistent customer relationships draws more people to you than necessarily having feature parity with competitors.

I would say don't let it get you down because:

• you built your solution, you know what it is capable of (great things no doubt!), your competition could go belly up at any moment and you'd suddenly have 100 new customers
• sometimes being the little guy in the competition can spark an ingenious great new feature or capability that you can rock your competition with
• being the smaller competitor right now allows you to be nimble in the market; you may be able to pivot and add a new feature much faster or with better support than your competition

Good luck!