I'm giving away my moat, is it a good decision?
So, two weeks ago I launched this tool to help startups get listed on a ton of online directories. It had a pretty solid start with good interest and a bump in sales (mostly thanks to Product Hunt and social medias).
I also got a lot of feedback. Some folks wanted to see the directory list before paying, to know what they're getting into. Others suggested paying per directory, and some even wanted a few free trials…
After hearing all this, I'll be honest, it felt a bit like everyone wanted everything for free. It got me thinking about the value of the service and how to balance being open with sustaining the project.
But then, I remembered my past projects that didn't really go anywhere. A big reason was I couldn't get the word out well enough. Classic distribution issues with product guys like me.
That got me thinking differently. I decided to open up the directory list for everyone to see. More than just trying to get more people on board, my idea is also to create trust.
I also decided to offer 5 free submissions (because it’s automated so this doesn’t cost me a lot) for anyone who signs up so I can keep a small advantage on my competitors…
But now, I'm kind of wondering about that call. Making the list public and offering a few freebies felt right, but it's got me thinking, does this make it too easy for someone else to come along and do the same thing?
Being the category king is a good thing. As long as your name is referenced as the go-to, then you're good regardless of copycats. I'd recommend trying to be featured in start-up circles, newsletters, and groups as the shiny new tool to get ahead. It should help get you that brand recognition and bit faster.
Hi again! I stick by the idea of building a more expensive complimentary offering to offset the give away.