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How can I compete in a well-established market?
I am building an agile project management tool. As you all know, project management is a well-established market with giants like Jira and Trello. This is my first product, and I started it to create a comprehensive tool that startups can afford. However, my hope is dwindling day by day. The main thing is, I never want to give up, and I won't give up. I'm seeking your valuable insights.
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Daniel Stuski
Focus on a small niche first, understand their problems, and make the tool unique for them.
You should also make sure that the niche is a good fit (they should be willing and able to pay money for your product).
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@entreeden There are dozens of project management tools, but none of them offer a feature for ensuring project quality. That's why I integrated codeless testing, allowing everyone to track project test coverage and ensure quality and making it affordable for small teams.
@steward_edison Thank you @steward_edison thank you for your valuable insights. How can I know about their weakness. When I surf on public forums I can get very few pain points of using such tools so that I hesitate to build based on that.
Maybe you might need good market research. Getting a correct customer segment and niche market is the main goal of a startup when entering a well-established market.
@thineshwaran_pandian is there any strategies for doing effective market research?
@manoj_11 you could do a market survey, talking 1 to 1 within your networks who could be your customer. There are so many ways, pick which one suits you best. But there are few variables you need to consider before picking the right market.
If you have trust in your product, nothing can stop it from becoming a big success. Rest I would suggest you - build strong branding, establish strategic partnerships, and invest in marketing to increase visibility. That helps!
To compete in a well-established market, focus on differentiation, offer unique value, and build strong relationships. Understand your customers' needs, embrace innovation, and provide exceptional customer service. Stay persistent, adapt to changes, and market effectively to stand out. Success often comes from dedication, creativity, and consistently delivering what others can't.
To compete in a well-established market, focus on differentiation. Identify unique selling points, target specific customer niches, and invest in exceptional customer service. Adapt to changing trends and embrace innovation. Collaborate, build a strong brand, and provide consistent value. Patience and persistence are key.
Focus on your niche. Instead of trying to compete with well-established businesses across the entire market, focus on a specific niche. This will allow you to become the go-to expert in your field.