How we were building the wrong product
kilometer.io
kilometer.io
Analytics is such a saturated market at this point. It will be interesting to see how things shake out in terms of consolidation / niches / price ranges.
It is also interesting to me that they decided to invent yet another format in which customer data must be exposed. Just like the previously mentioned companies. https://www.w3.org/2013/12/ceddl-201312.pdf (shameless plug: https://github.com/mkohlmyr/ddl-json-schema)
> our users often call us "Mixpanel on steroids" [1]
I then click through to find ironically, that Kilometer themselves use Mixpanel..
[1]: Screenshot: http://thumbsnap.com/i/kFfmeZEx.png?0310 (from https://www.quora.com/What-are-the-best-Mixpanel-alternative...)
Not sure it's a good idea to pivot into this space.
That's what Alex is trying to do. He's trying to find that mix.
The basic problem is that they are something you bolt onto your business after the fact rather than something that is core to running a business. They are a "nice to have" rather than "have to have" and when something new comes along it is too easy to replace them.
At Weekdone (https://weekdone.com/) we have some dashboards for your team and employees. What works is if something that you see trending up or down is actionable towards specific people. If it's average across company or department - not so valuable.
A good example is employee satisfaction. It's most valuable looking at trends for a single person or a small team. Whole company or large department? Not so much, nice to have.
You want to make pain-killers, because people need them.
Vitamins can be helpful. But people don't usually need them.
25 metrics from 5 data sources seems... overkill?
SaaS for Saas companies seems to be a hard market, because the SaaS company is likely to just build what they need themself, no?
- one size fits all is very difficult to do. most companies have a critical feature that is unique to them
- the CEO is likely to view this kind of product as 'trivial', without really considering how much engineering effort it will take / they really need that custom feature. so yes they build it themselves.
- very small companies are not comfortable providing 3rd party access to their db
- larger companies want more than this
- the selling cost to companies tends to be high enough that going the low cost / high volume route is difficult, quickly driving you into consulting level prices / a more fully featured & tailored productOnce you have done that, you don't need to diagnose it any more.
Also, I'm not sure how a few pretty charts help me here.
This pitch tells me nearly nothing. It doesn't say what I would use it for, what benefits it offers, how it stands compared to other solutions on the market, or even any details about what platform(s) it supports. So basically unless I happen to currently have no solution and am actively looking for one, then I don't care. Which I would guess is about 99.999% of the people who received their email.
Based on the info from the post, there was no specific need and ideal customer profile in mind for creating this product.
It’s not like an unknown problem, but it’s crazy how often startups have fell in the “do stuff no one needs” and wasted months or years on it. It seems to be one of these things where you need to experience it yourself to understand it.
Almost wondering if I should read the rest of the article at all...
How did they expect to build the right product without collaborating with their target customers? Is this a company staffed by psychics?
TLDR; Prototype with customers before you build anything.
On top of that there's an added problem that customers are often wrong. They tell you what you want to hear, or worse, they tell you what they want to hear. And you have to work out what's really needed based on those conversations.
My startup failed for this exact reason. We listened to our potential customers, we talked to them in focused test groups, we built what they said they needed, we showed them prototypes, but at the end of the day they realised what they really wanted was something else, and in many cases the pain we were solving (managing project requirements) wasn't even that important to them. By then we'd run out of funds. The end.
It may not be easy to do, and I agree that people don't know what they want, but it took these guys 10 months to do any research. They shouldn't have built a thing, but should have put prototypes in the hands of customers ages ago. Then they might have learnt the things 10 months ago they're only just learning now.
There's the old adage from Ford "If I'd have asked customers what they wanted, they'd have said a faster horse". But that's asking them for a solution. It's your job to come up with that. But the customer is the one who knows the pain. And if they can't describe it, it's not big enough to solve anyway.
Nail it then scale it (www.amazon.co.uk/Nail-then-Scale-Entrepreneurs-Breakthrough-ebook/dp/B0055D7O1U/) describes a practical product development process that puts research at the forefront.
We developed what we thought and what our potential customers claimed was a solution to an unmitigated problem in a very sensitive financial process. We followed startup advice and made it clear that we would charge for the solution. Fast forward a few months: usage dropped from supercharged to minimal then to nothing. Most of the customers we worked so hard to acquire went back to their old ways. When we did followup calls, their newer recruits were none the wiser that we even built something specifically for them. Clearly, the problem wasn't that important in the grand scheme of things.
If you know so much that others' mistakes are trivial to you, why not share something informative and non-obvious? Don't just put others down; teach us something.