Developing an on demand app in not so virgin territory!
So you’ve decided to venture into the entrepreneurial world by developing an on-demand app. You’ve done your research, brainstormed with family and friends and may have even engaged a marketing company for professional assistance. Just when you’re ready to pull the trigger on development, you discover somebody else has beaten you to market! Do you abandon your dreams? Do you start over and find another idea? Do you march on?
If you’re planning to compete with the present day Ubers and AirBnBs of the world, then it’s probably best you let your dreams die peacefully. Your cheque book will forever thank you! Those entities have clearly dominated the market place with their size, limitless funding, and most importantly – critical mass of users. That said, if your idea is not within a dominated sector, you can likely compete as the on-demand app space is still in its infancy.
What to Consider
When you discover another app with a similar concept, consider the following:
- What market does it serve?
- Is there a critical mass of service providers within the app’s community?
- Have you heard from users presently using the app?
- Do service providers within the app offer a compelling value proposition?
- Is there any online or other enthusiasm about the app?
- Can you do it better? Perhaps the marketplace could bear some competition! Let’s face it, there generally isn’t just one burger shop in town is there?
- Can you identify a unique or under-serviced sub-niche within the same space?
Ultimately, the decision to develop in a competitive space an on-demand app boils down to the basic business fundamentals of balancing the risks/reward after doing your research and due diligence. If you do decide to enter a new market, see our recent post about marketing you app here.