LAUNCHED MY APP! CAME ACROSS TOO MUCH COMPETITION – WHAT NEXT?

19-Jun-2017 Admin

 I have launched my startup idea after putting effort of around 2 months and now I realize that the market is already full of competition and many are from long time occupying the market share. I did not put any effort in analyzing the market competition before starting with my startup idea neither I did any market survey of my app requirement with the customers.

 

Saturated Market with too many competitors

 

I am a web developer and mobile developer as well, investment in building the app is almost nil until I count my effort of time and other expenses like hosting, domain etc. expenses. I am not worried about the investment, but I need to know where to proceed next as the market is already saturated with the similar apps.

I have invested few hundred bucks in online advertisement on Facebook and Google Adwords to get some users to validate the startup idea has good potential. But the problem still lies where my product would reach in this market full of competition.

 

 

Though I have a full time job as of now and this would be just like an experiment to test out the viability of the app. The idea has good potential but too much of competition is making me to think “whether I should continue with this app or should proceed with next idea”! As my end goal is to be involved in a full time startup/entrepreneurship, but only if the product gets me sufficient revenue.

 Pros

Cons

 

After discussing with few people various points came out that were very encouraging & very insightful and few were blunt:

Few of them are listed below which might help out my other fellow entrepreneur /startups who are in same situation as mine.

Now compare all the points in terms of cost for time, money and risk involved and your full time job. And then decide if it can replace your job

 

Author: Admin