Pros and Cons of entering a crowded space?
Cara (Borenstein) Marin
1 reply
Today we're launching Stashpad Docs, a Google docs alternative
When entering a crowded space like Docs, there are benefits of the market demand being clear and downsides of high expectations for an MVP.
Do you think it's better to enter a crowded, validated space or to create a new space?
If you'd like to check out our launch, it's at https://www.producthunt.com/post...
Replies
Jess Cooper@jessrcooper
Solid question.
I think this is a pretty nuanced thing and not every situation is the same. However, I don't believe that just because a market is already crowded, there will be no gaps or unfulfilled needs. If there's a demographic that's been alienated out of a certain category, they will likely be excited by a new option regardless of how many competitors there are in the space.
At the end of the day, it's about whether there's a group of people who are underserved or not. However, it's still important to consider the total addressable market value. If this group of people is quite small, you can still build for them, but your product may not grow as much as you'd like. Sometimes that's okay!
The winning combo is a large TAM that intersects with an underserved market. That's where the magic happens!
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