Few reasons why micro-ISVs are failing with their applications

It’s been said a lot about starting a new product in a micro-ISV. Most of them fail to earn even mediocre amount of money. Pointed reasons usually cover:
• Poor marketing (yes, if you’re one-man army, you’re not only a developer – you’re marketer also).
• Big first version, covering lots and lots of brand new ideas, but on the other hand that’s never ending version.
• Poorly chosen niche for a product – either to big or too small.
• Leaving an idea after first version that didn’t “hit the shelves”.
• There are some others of course.

Every position from above list has one common feature – you can change it if you’re conscious and you’re willing to do it. There’s one more reason of failure in micro-ISVs, which is slightly different. It’s very, very hard to change that one, even if you’re conscious. Belief. If you don’t believe in your great, brand new idea that will change the world you’ll fail. OK, I’ve exaggerated a bit, it’s enough that you believe that your product will be a great success. Why is it so important? It’s really hard to change author’s attitude to his idea (or at least to improve it) and belief is a key component of success.

That’s why on the very beginning of a product development cycle you need to answer honestly a very important question or rather a list of questions:
• Do I strongly believe that I’ll complete work on my product?
• Do I strongly believe that I’ll find buyers of the product?
• Do I strongly believe that the product will earn a reasonable amount of money (whatever you call reasonable, but call it loudly)?
• Do I truly want to spend this whole time busily polishing every scratch on the product surface?
• Do I truly want to assist my future customers helping them with boring and ordinary issues?
• Do I truly want to work on the product in a couple of year period of time?
If at least one of those answers is “no” I’d consider that as a big risk in succeeding with the product. Don’t count on others – it’s your product and you have to take on yourself all connected pros and cons.

If you cheated answering those questions – remember, you cheated yourself. And I wouldn’t invest in your business then.

Tagged as: entrepreneurship, failure, software business, startup