It has been a 1.5 months since I posted my ideas to start my Micro-ISV. After moving across the country, continuing on my consulting efforts, and some personal research and reflection, I am reconsidering whether I should move forward with any of these ideas.
With respect to the RSS Reader, I do believe I have an interesting idea that would “uniquify” the product; but, I also am beginning to believe it might be better to just contribute that idea to something like Dare and company’s RSS Bandit rather than go with a full-fledged development project.
I was most jazzed about the Fantasy Football web site, but that excitement has fizzled lately — maybe because the football season is almost over; maybe because of the reality of differentiation; I am not 100% sure, but my initial glee about the prospect is not there anymore.
The “Bag-O-Tools” idea is still on the table.
I am now doing a re-analysis of the direction I want to go with my company (i.e. do I need a “born-again” moment?) To give you a glimpse into my mind, here is my current thinking:
My Company = Consulting Company?
My consulting effort has been going really well, with real money and possible future prospects. I have been complemented for my good work. So, do I become a consultant/contractor instead of a Micro-ISV? But, the phrase “possible future prospects” can be a bit unnerving — the well can dry up at anytime and without notice. So a backup plan is a must. Also, the possibility of constant travel may prove a bit prohibitive depending on how things go with my family.
Do I Want a Partner(s)?
I waiver on this quite a bit. On the one hand, it is very intriguing to know that I could control *all* aspects of my business. On the other hand, I know what a lonely road that could be. I don’t necessarily mind giving up some control for the chance to share in the production of something successful — in fact, running the business aspect of the business (vs. the technical aspect) intrigues me quite a bit. Also, I am still 100% convinced that the right partner, in general, is better than going solo — if, for nothing else, to keep motivation high and have a listening ear for the business.
What Is My Niche?
This is the hardest hurdle to get over, obviously, for any successful Micro-ISV. But, this is arguably the most important hurdle. My initial ideas do not carve a specific niche, per se. I knew that going in, but now I am thinking that maybe I should try to carve a niche to complement my initial business goals. What product(s) could I develop that uniquely solves a problem for a certain group of people. On the other hand, it could very well be my niche is in the consulting business. It could very well be my niche is in technical editing, or managing a project or an effort. I am not ready to say what it is yet.
So as my current consulting effort ends (sometime before April 1st), I really need to do a lot of soul searching to figure out what comes next for me. I do hope I at least have the opportunity to make a decision to make about another enjoyable consulting or contracting after this one ends.
In my opinion, “consulting business” or “technical editing” are not niches; they are focuses. A niche has a customer, a focus has a task.
So you can certainly have a “niche” as a “consultant for startups going IPO” or “technical editing for real estate lawyers” because that is a defined focus, and a defined customer.
From observing your blog recently, I would say you suffer from a broad focus and no customer. Whether this is because you are not sure of your abilities to sell yourself to customer X, or a short attention span, or maybe you really are afraid of picking such a “small market” in fear of failure; I leave that up to you, however know we all have our doubts, but we also know we can deliver the best solution to our customers.
I recommend you spend less time debating the theories behind a mISV and you really sit down and ask yourself two questions:
1. What do I like to do?
2. Is there anyone who needs me to do what I like to do.
If you can find something that fills that void, you have found a niche… from there you should be so excited by default that you will have the courage to start.
Hi Phillip,
Thanks for your response.
As a matter of fact, with respect to the “niche” of a consulting business — I do, in fact, have a niche within that focus. It is just something I cannot talk about right now because (1) I am not at liberty (2) I want to see what plays out. But, I do have a possible niche there.
I think you may be partly right that I am suffering from a broad focus and no customer. Short attention span? I am not so sure about that. And I am definitely no afraid to go after a small market — in fact, I almost would appreaciate that more.
With respect to the broad focus and no customer aspect, I think it is coming down to me having to narrow something down. And I think your two questions really hit the nail on the head, and are the ones I am struggling to answer.
I actually know, in general, what I like to do. The question is how to translate that into a service or product. That is my struggle. Something we all go through. Which is why I am sitting back and taking stock of things — I have the luxury of doing that right now.
Your last sentence is spot on. Exactly!
Thanks for the thoughtful reply.
Pingback: Oh Brother, Where Art Thou? « A Life of Constant Flux