So I recently thought of a SaaS product from a pain point I had running a marketing agency and thought nothing else does this in the unique way I wanted to solve it.
I spoke to developers, did more research and realised there's some software out there who do what I wanted to do.
Now I'm here again, stuck thinking if I should or shouldn't pursue this.
Being a non-tech founder, it's a lot harder to "not worry" about competition because If I want to build something it'll cost 10s of thousands.
What is your opinions on competition?
This is something I battled A LOT before I committed to building my company, the whole "stuck thinking if I should or shouldn't pursue this" give's me PTSD lol.
Anyway, to start off with I am a programmer so being able to cut 75k+ off by building it myself has been a huge boost, but I will go ahead anyway...
Competition is great. That is your validation right there. A competitor means there is a market for that tool, so you can almost skip the step of validation and start researching pain points of users using the current products to build a portfolio of what YOU can offer that is better. But make sure the market is not flooded and overcrowded, you can do this by deep researching the sector - this may take time but will save you lots of money and time in the long run.
All the best!