How do you determine if now is a good time for you to build a specific product?

You determine if it's a good time to build a specific product by first assessing market needs and competition. If there's a clear demand and your product offers a distinct advantage, it might be the right time to proceed.

To determine if it's a right time to build a specific product, you should evaluate current market demand, consider technological feasibility, and analyze potential competition. Also, ensure that your product aligns with your business's strategic goals and has the resources required for development and launch.

Success in product is about understanding the delicate dance between demand and supply. It's not just about having a great product or service; it's about delivering it at the right time, when the market is ready to embrace it.

I think everyone who posted is right. Market demand vs supply right? But here's the thing, you'll never really know until you deep dive and try it. Maybe it's a saturated.market, but with the wrong solutions. What's important is to have new takes on how to better solve problems. Remember that back then the market was saturated with train companies, horse salesmen and chariot companies. The market of moving people around could easily seem too competitive. 😉

Consider market demand, competition, available resources, and personal interest. Validate your idea before investing a lot of time and money into it. Gather feedback from potential customers and target audience.

Deciding if now is the right time to build a specific product involves considering factors such as market trends, customer needs, and the availability of necessary expertise and resources. Conducting a feasibility study, assessing market saturation, and evaluating potential profitability are key steps in making an informed decision.

I always rely on marketing research during this

Competitor landscape analysis and market research to understand product market fit can provide good insights.

Timing's key. See if folks need what you're building, now. Too much competition? Maybe hold off. Unmet needs? Go for it. Just make sure your team and tech are ready. It's all about catching that market wave just right.

I wonder how many of these responses were created by AI. Of course supply and demand is a massive factor in going to market, but knowing your product and the buyer is a huge aspect most people overlook. Is your product a small step above the competition or truly innovative in an alienating way? Where you lie on that spectrum dictates your dependency on early adopters. If it's a Work Tech solution, I know people that would be able to tell you what you're looking at when it comes to GTM

If under that you have a publication date or something. That Wednesday-Thursday, in such a huge number of users are mostly sitting. Correct me if I said something wrong.

Supply and demand: do you have the resources to build the product to where you want it to be, and are/can your users pay for it?