"What does it take to... join the same market space?"
Speaking on the SAAS space. IMO the bar for entry is getting higher every year. It's getting easier and easier to build apps, and the number of developers keeps growing.
What does it take to join the same market space? Here's some strategies:
1. Find a niche that is being ignored and really needs your specific
product. This is getting harder to do.
2. Raise money. One way to build a good product is to throw good developers at it.
3. Give yourself a longer runway. Think years instead of months.
4. Buy an existing business, and run it yourself.
"Are there cases where there is only room for one player and no matter what you do, you will not be able to steal any sizeable amount of market share from them?"
Definitely. If you go very niche, you'll find areas where there is a strong competitor dominating small a space. It might not be worth entering the space because the market is so small.
>>Speaking on the SAAS space. IMO the bar for entry is getting higher every year. It's getting easier and easier to build apps, and the number of developers keeps growing.
The flip side of the coin is that demand for software is increasing, as software is "eating the world". This is why average salaries for software developers have been increasing: growth demand is outpacing growth in supply.
What does it take to join the same market space? Here's some strategies:
1. Find a niche that is being ignored and really needs your specific product. This is getting harder to do.
2. Raise money. One way to build a good product is to throw good developers at it.
3. Give yourself a longer runway. Think years instead of months.
4. Buy an existing business, and run it yourself.
Definitely. If you go very niche, you'll find areas where there is a strong competitor dominating small a space. It might not be worth entering the space because the market is so small.