Market research · Market size

Do you believe that because the market is crowded, our idea and startup will fail?

Yazdan Soltani Building a New Job Board

February 28th, 2020

I've heard many times from different people that my idea (a job board) won't be successful because there are monsters in the market who have money and power that could destroy new startups.


Do you agree?



Serendipity Strikes Problem solver/Creative/Inventor/Musician COO/FOUNDER

Last updated on February 28th, 2020

A great idea will break through, don't be discouraged by big money. You can have all the money in the world but if you don't have the wit to go with it, forget about it.


Sometimes small business opens up next to big business, not to compete but to be bought out.

Crowded isn't always a bad thing. Fear works both ways depending on how you spin it. Elephants are afraid of mice.

Lewis Hanson Non-technical founder looking for technical co-founder/CTO.

February 28th, 2020

I think it really depends on what the value proposition is. I.e. - does your product provide value to the end-user that they can't already find elsewhere such as a time-saving, cost-saving or better user experience? I wouldn't get disheartened by existing incumbents, smaller startups are often more agile due to less red tape etc and also have the advantage of looking at what the existing players might be doing badly/not so well and improving upon their offering. Also on another note, you should look at the market overall and assess what stage it is at - is it a large and mature market with stagnant growth? a small market with high growth? etc Ideally you want to enter into a market which still has good growth potential. The online recruitment market is relatively mature, but still has reasonable growth, set to be around 7% for the next few years. You can still win in this market against the large incumbents, however your product needs to have a differentiating factor. My advice is to look at the existing top 3 and think about how you can improve upon their offering.

Dane Madsen Organizational and Operational Strategy Consultant

February 28th, 2020

Maybe.


The issue is what you do that is different than the current boards. If all you are doing is exactly what they do, you will not bring something that could change the space. That will fail.


If you do, however, something such as Superhuman is doing to email clients, then you are really different. Be aware, though, Superhuman has gotten huge push back because they are voiding privacy and, well, just creepy.


There are tons of cases where a crowded market is disrupted by an entrant with a differentiated product. There are no cases where a space is disrupted where it is just another version of what is out there.


This is key to the journey - you must have clarity of what problem you are solving, for whom, and how, not just "it's a big market that I want a part of". This is the point - before you jump from your day job and launch a site - where you painfully detail what every other product in the market does, does well, how they do it, what they have missed, and who they targeting. Then you validate your ideas with the market you are serving - some boards support the employer markets while others are for the job seeker. The needs are nearly diametrically opposed.


Like I said. Maybe. It depends on you.

Serendipity Strikes Problem solver/Creative/Inventor/Musician COO/FOUNDER

Last updated on March 1st, 2020

I think big money has more of an effect on small money in the stock market, auctions and on the poker table. A great idea is priceless. But ideas are worthless unless they are carried out.. Which I think is why we are here, a quest for success!

GigsList.info Magazine Founder and Researcher GigsList.info, Department manager and producer for events, film, music.

Last updated on March 9th, 2020

Hi Yazdan, Gigslist.info was a job board before it became a magazine. I just completed 12 months market research. From that I published a directory of grant organizations and job boards. GigsList audience is a niche market of entertainment workers and businesses. If your job board is for a niche market, your competition is not the big boards, it's the free social media groups. In GigsList's case there is too much competition from hundreds of entertainment job boards and groups. So I developed other B2B info products and use the job board for SEO click bait. For example, GigsList.info now publishes business books and directories. When you hit a brick wall, turn left. Deborah