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That is a very worrying statement. Because it either means you are building market, which takes mega millions or there is no market. If you are in any type of business process, ERP, accounting software no mater what features and functions you have you have competition and it is not at functionality level but mind-share.
If there is really no competition, then you have to build the concept in the minds of the consumers/clients, in other words you are building a market where one is none existent. That also takes multi mega bucks and you need an "enabler" without an "enabler" you either won't cross to mass market or someone else will use all your marketing efforts when they have the "enabler" and will do it in your place.
[This has happened more than once before in the software industry with startups that were "early to market" and didn't realize it early enough, by the time they realized it...... the so call none existent competition took a ride on their marketing and took the market in 1 year and the startup disappeared. And they didn't even do this with a better product.]
Competition is not about features and functions but about mind-share.
In other words, what is the first company you think of when you think sports shoes.......XYZ.
What is the first company you think of when you say: "web analytics" some say GoAn some say AWS.
So, what is the first thing that comes to mind when you say XYZ (whatever you software is e.g. accounting, ERP etc). If the answer is nothing, you are building market. If the answer is XYZ, you have competition.
All the above of course is null and void if one wants to stay small niche boutique software house.
Also a side note. Mind share in B2C is even more important than in B2B.
Hope this helps.
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Dave A (21-May-08), duncan drennan (21-May-08)
Hi Karen,
No, I really mean it when I say I don't have competition, and I am most familiar with the last to come first principle, & the last thing you want to be is a market leader. Boy, my father has been warning me about that from day one, and have passed many a case study on. However, my software is patented so that does offer some protection, but also think of old Shuttleworth or Bill Gates who can serve as a case in point.
I know one of the guys who worked for Microsoft from the start, he even published a book, and he was offered shares in this teeny weeny company, suffice it to say that he was retired before he was 40 & is now following his own passion which is being a newspaper editor! Bill Gates really kept on looking over his shoulder for the competition to come after him, yet it never happened. So I do think we are living in a changing time period where perhaps that which was valid in the previous generation, and is still preached today in text books, might not be applicable today. Just a thought.
But you really made Jakes think -- I read one of your mails out loud in the office. He mulled over it the whole day and came to the conclussion that clients might not be so impressed with the fact that we give T-speed access over the Internet, they might not even be interested in the fact that we don't make use of the normal channels to get you hooked up. All they can appreciate is the speed and they won;t give a ding-dong about how we did it.
I understand what you say though, and I keep that in mind constantly, therefore the only solution is to move very very quickly, so that you are the brand name before the followers move in with their generic products. Pepsi has to date, despite throwing everything at the problem, from bottling and logistics to advertising and marketing, not been able to overtake Coke, so it can be done.
If i think of my software I think of the software running in an ICU, so I guess that doesn't count. Intellectual property is a very strong suit, but I do foresee that more and more people will catch on and ride the wave eventually.
It really sucks at times to be ahead of the pack, for when I started out i had a lot of financial people saying it can not be done, and it is a very lonely and isolating experience, but so what? Thanks for warning me about the dangers, I really needed to hear it again, and will need to hear it again in future!
I can not thank you enough for your input!!
Hi SoftDux,
I am very very protective of my name, and I am very focused on meeting a client exactly where they are at, I have even trained a regional magistrate who had no idea what e-mail was, as i am passionate about sharing knowledge and building up a client. Surely that is what I was put on this earth to do. I just love to see people grow and gain confidence when they realize that things they thought were so difficult and way out of their grasp, become so silly and easy.
But I do get your point and I shall ponder on different ways to overcome the pit-falls, as you have so cleverly pointed out. That is really cool of you and I so appreciate this!
I am considering to do all three at the same time actually, but I need to skip the door-to-door bit, so I am thinking of giving a lecture rather than a seminar, thereby gaining entry to a larger audience. The rest I unfortunately need to keep under wraps, but I so knew there was a new way of marketing.
Thanks again for your input and thanking for shooting from the hip -- there is no replacement for honesty!
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