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Doug Nebeker ("Doug")
A few years ago I released a product that did pretty well, and I let it coast. One of the major competitors seemed more interested in being enterprisey and I was happy to let them be.
Now, these guys have started moving into the lower end (my bit) for free. And I have to say, they do an excellent job marketing and design. It was only a matter of time but I didn't know how well they'd execute. They just seem to be getting better. I don't think I can compete at the higher end. They are becoming one of those "oh yeah, buy that thing and move on" brands. I envy their execution.
Just for reference, this product had its roots in a 40 year old company and I think they may have spun it off when things began to take off.
I'm considering packing it in.
What do you think? Have you ever packed it in?
It seems to me your options are:
1. shut it down - if you are still making worthwhile sales, I wouldn't do this
2. coast - extract the maximum value from your current product while doing the minimum work
3. compete - if you can't compete with them head-on, perhaps you can still out compete them in a particular niche
4. sell - to your competitor or someone else, your list of existing customers might be quite valuable
Friday, November 13, 2015
True, those are the options. I'm not so concerned with choosing one of them, but more looking to see if someone has any experience that they can share.
Btw, I noticed when I logged on from home that I couldn't see my post. Guessing I'm shadowbanned for some reason? Otherwise I'd expect Scott to be all over this one.
What you describe is just the normal competitive world. They are competing with you.
You can respond by doing new things and approaches and tactics. Or pack it in. Or coast. Whatever you like. As was said, that's good advice there.
I do expect that you will learn from observing your competitor. This is the evolutionary advantage of free market competition.
>Btw, I noticed when I logged on from home that I couldn't see my post. Guessing I'm shadowbanned for some reason?
Your post was held for approval of a moderator before it was shown. This was triggered automatically. It happens from time to time. I am not party to the algorithm that decides which posts are held for approval.
Friday, November 13, 2015
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