I had another discussion asking general questions about building a software product. I have experience in web programming (6 years) and marketing (around a year). I’m currently using Google Keyword Tool to determine general demand and competition for a given market.
I’ve heard both sides - go for a niche and aim for a large piece of a small pie, and, on the other side, aim to gain a foothold in a decent-sized market.
My ideal is to build a SaaS, though I am open to building other kinds of products. I’ve been looking into dog walking services and how I might be able to help with that, and appointment booking systems.
The biggest problem for me is not in identifying problems - I’m confident that it is a good idea to build products that are already selling - but in finding markets that aren’t too saturated or with too heavy competition.
Does anybody here have any methods, metrics, tools, etc. they use to determine whether it is worth diving into a given market? I would love more than anything to have the confidence to think “yes, I can make this work” - and then 100% invest in building something of value. Edit: I do understand there will always be a risk involved, however.
Appreciate any advice.
I think I might have answered my own question. Found a few excellent posts here: