Is it possible to solve TOO many needs?

[NicoleMarie]

I've heard the phrase "pick one thing and do it in the most excellent way," but I'm not sure if that means being the best in the niche, or pick one need and go all out with that. There are many different equally important things I could improve on, but how do you know where to stop? Won't customers think we're somewhat inadequate if we miss certain needs, and, wouldn't that open up the possibility for someone else to come in and fill those needs?

Thanks!

 

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[RBefort]

Pick one, build it, scale it, make profits, sell it or keep it, and make more profits. Then, depending on if you automate the first, put it aside and go after another (since you'll more than likely be hungry to repeat your successes). Your post makes it sound like you are trying to do everything, when you really only need to do one thing. You won't be able to cover everything, even with solving a need. Who knows, solving a need might open up another need from you creating that solution. It's just a revolving cycle.

 

[NicoleMarie]

Pick one, build it, scale it, make profits, sell it or keep it, and make more profits. Then, depending on if you automate the first, put it aside and go after another (since you'll more than likely be hungry to repeat your successes). Your post makes it sound like you are trying to do everything, when you really only need to do one thing. You won't be able to cover everything, even with solving a need. Who knows, solving a need might open up another need from you creating that solution. It's just a revolving cycle.

Thank you. The problem is that I'll probably have to solve a minimum of 2 needs since there's 2 different users interacting, but this helps in my time of stress and uncertainty.

 

[AlterJoule]

Aim to fix a need to a certain standard that you feel is important. If you have the ability to expand and fix further needs I guess you need to evaluate at what cost? By attempting to move onto another product does your first product suffer? If so, How? Why? Can you live with it?

If your second product ties in well with the first and you can perform both to the standards you aim to uphold. I say do it. As many times as you can without spreading yourself, your brand, customer service, and your product quality too thin.

 

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[smarty]

I've heard the phrase "pick one thing and do it in the most excellent way," but I'm not sure if that means being the best in the niche, or pick one need and go all out with that. There are many different equally important things I could improve on, but how do you know where to stop? Won't customers think we're somewhat inadequate if we miss certain needs, and, wouldn't that open up the possibility for someone else to come in and fill those needs?

Get rid of mental bullshit as much as possible, as quickly as possible...

 

[NicoleMarie]

Aim to fix a need to a certain standard that you feel is important. If you have the ability to expand and fix further needs I guess you need to evaluate at what cost? By attempting to move onto another product does your first product suffer? If so, How? Why? Can you live with it?

If your second product ties in well with the first and you can perform both to the standards you aim to uphold. I say do it. As many times as you can without spreading yourself, your brand, customer service, and your product quality too thin.

Thanks! Each new feature would in fact tie in with the first ones, so that's not a problem. I guess that just goes back into the whole "business polygamy" thing kinda.

 

[NicoleMarie]

Get rid of mental bullshit as much as possible, as quickly as possible...

You mean the last sentence? Care to expand?

 

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[ZCP]

Solve A problem...... Create value....... Sell...... Use part of funds to expand the line...... Beat others to the punch.......

 

[Formless]

Smarty means 'cross that bridge when you get to it'.

 

[smarty]

You mean the last sentence? Care to expand?

Well, with that I mean it is not time to worry about it just yet.

Solve one need first. If you are solving one need and making progress with it, you will answer your own question.
You will know when you are ready and feel comfortable to start a second thing.

Did you ask such question because you wanted an escape to feel good by
thinking too much in advance, or because of the matters in hand right now?

 

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[NicoleMarie]

Well, with that I mean it is not time to worry about it just yet.

Solve one need first. If you are solving one need and making progress with it, you will answer your own question.
You will know when you are ready and feel comfortable to start a second thing.

Did you ask such question because you wanted an escape to feel good by
thinking too much in advance, or because of the matters in hand right now?

Thanks! Actually, I'm doing my market research and people seem to be expecting me to be this great problem solving machine right away AND be super cheap. I don't want to get into a price war with Etsy, and I think they're actually a non profit anyway. Hopefully I can target NON Etsy users or just create enough value that I can charge more anyway. If I'm too slow though, the hosting and other costs will catch up, and people will leave thinking "is that it?" That's the whole issue here. The super valuable features come later on, due to the structure of this type of marketplace. I could MAYBE have a standalone value in the meantime, but that's still more development time, and there isn't much value without traffic. Maybe I should do a USP overhaul.

Sorry for my vent haha, I just need to get back to the fastlane mindset.

 

[jon.a]

I've long been convinced that many companies hold back features so as to be able to release "new & improved" products later.
Launch and see what the market tells you that it wants.

 

[Deleted21704]

I don't want to get into a price war with Etsy, and I think they're actually a non profit anyway.

Legally, Etsy is for-profit. It's also a 'certified B-corporation', which is some kind of hipster business structure for those who want to 'do social good' while making profits but still not be not-for-profit. I think it's all marketing gibberish...Etsy is in business to make money.

Their value is in empowering artisans to sell their goods: the craft fair of the internet. No one else does that like Etsy does it.

So the question is...what's your pain point? I've heard you speak a bit about features, but what your customers need aren't features--they're solutions.

Just earlier today, I was reading about the HR industry. Their biggest gripe?

Vendors are building their products without input from their customers. Instead of developing technology that makes recruiting more effective, vendors are attempting to shape the recruiting market with the products and features they think are important.

And then we wonder why hiring processes SUCK so much.

 

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[NicoleMarie]

@jon.a Ha you're probably right, I think Apple is famous for that.

@m52go Thank you for clarifying! I didn't know what that B corp was all about haha. Zibbet is actually now trying to be the more advanced Etsy and I think they're having some luck. However, that is NOT at all the target niche and none of them focus on customizable decor. Exactly, I want to be known for implementing only what customers want; that's where I'm getting caught up though. There are actually more pain points than I can handle in the beginning, and if I don't implement all of them, I'll have myself an unfinished product and dissatisfied customers. Plus, price is a big thing for artists, but I don't want to get into a price war like MJ said. That's why I'm wondering if there's a point where we all have to stop trying to please everyone.

I've withheld the main pain points but ah what the heck
-custom artists aren't getting the attention needed and the whole buying process is different than instant purchase like amazon
-artists are being charged too much
-buyers have a riskier/harder time buying art online, especially customized

So as you can see, there's much room for improvement, but I don't know which to put in the MVP and it has to be done cheaply and quickly, yet profitably enough. I realize that this isn't any of your problem guys, but I'm just venting here because here's little inexperienced me with a cofounder to please who's already skeptical because I started 3 months ago with 0 business knowledge and no experience. Thankfully I have MJ's great book and forum, but that's still not a lot to show to outsiders for such a big, complex business idea where people's money and businesses are at stake.

Edit: I've moved some important points to the inside, don't really want it all out there yet.

 

[smarty]

Sorry for my vent haha, I just need to get back to the fastlane mindset.

You look like a happy kid who just asks questions indefinitely and takes pleasure by doing that, so I will just let you have fun with it and I trust you will come up with the best option(s)

 

[NicoleMarie]

You look like a happy kid who just asks questions indefinitely and takes pleasure by doing that, so I will just let you have fun with it and I trust you will come up with the best option(s)

Unfortunately I don't have enough experience to give people value yet. :\ Hopefully, the answers to these questions will give other readers some insight who have the same questions.

 

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