First of all, I've been a long-time lurker of IndieHackers and ProductHunt and I've always dreamed of starting my own side-project-turned-profitable-business. I decided to make an account and officially join this great group today!
Personally, I often generate ideas but upon further investigation find that they have preexisting solutions (do to the nature of ideas, usually preexisting apps or SaaS platforms). Previously, I immediately scratched it off my list and kept brain-storming.
On IndieHackers, however, I have read several blogs that mentioned that this is the wrong way of approaching things - in fact, preexisting solutions can be a good sign because they prove that 1) a problem does exist, and 2) that there are people willing to pay to have it fixed.
My question to you all is this: when you discover that your problem has preexisting solutions, how do you decide whether it's still worth pursuing?
It could mean the market is saturated and you're not differentiated enough, or it could mean that there is a market ready for you to enter and thrive in.
Do you try to identify what the current problems are with the preexisting solutions? Any thoughts would be really appreciated, thanks!