I’ve done quite a bit more research on the software product I was thinking of building. I’m leaning against bothering. Here are the reasons:
- Most importantly, I liked this product because I thought it addressed a pain point and I could make money. However, frankly, I think I’d be bored to tears marketing this product. It would be the equivalent of selling someone a steel pipe to bury underground or something. Just selling that product day in and day out would be crazy boring.
- I don’t think my addressable market is that large, actually.
- My only selling point would have been price. I don’t think that’s a great place to start with a product.
- There was other competition out there that I discovered upon further research. That competition was less expensive than I thought.
- My intuition is that this is just the wrong move and that I’d be pouring my energy in the wrong direction.
- I’ve concluded that the two-hour idea in the title was unrealistic.
- Connected to the second to last point, if you don’t want to spend more than two hours a day on something, you probably shouldn’t do it at all. Focus on what you really care about and want to spend your time on.
- Finally, the software was focused on website and social media archiving. This topic is way outside my life’s career theme.
You Don’t Have to Swing at Every Pitch
In investing, a key skill is not always swinging at every pitch coming your way. I’ve thought hard about whether my hesitancy here to proceed with this idea is just fear of the unknown or working on something new. However, I don’t think that’s the case here. I think this just isn’t the right SaaS for me to pursue. I have zero passion for this one. So I’m going to let this pitch go, and wait for a better one.
The great news is that I learned quite a bit about the software development process from this initial exploration–knowledge that can be build upon should I come up with a better idea in the future….