Speed and value beats copy cat coders
Over the years when pitching new software ideas to potential investors, I have often been asked. "So, can your service be replicated?" I understand that this is a normal question. Investors, want to assess potential competitiveness of your product in the market place. However, there are so many factors that add to competitiveness. For me there are two questions that I consider vital in assessing competitiveness. The first is speed to market, say you believe you have a great product, you have done all your homework and in your gut you believe in your product. Then speed to market is critical. How quickly can you get your product into the market? What's your entry strategy? The second important factor related to speed is user acquisition. If your product is good, it will at some point begin to sell itself through word of mouth. The speed to which you reach important user acquisition milestones (5000), (10000) etc is important to measure. If you can capture a market speedily and continue to add value, then these things matter. It is not whether a product can be replicated or not. There are plenty apps out there that can. The question is how fast you can get to market, create value and demonstrate continued value.