HACKER Q&A
📣 maxilevi

Create a new product vs. adding a feature to an existing one?


I currently have a product that is selling decently. I want to add a new feature that will be very helpful to customers, however I could also spin it as a standalone product as it will potentially bring me more revenue (as the product is a one time license thing)

When should I do the former vs the latter? Any heuristics?

How do I balance improving the existing product vs launching new ones? Any thoughts are appreciated :)

Before someone mentions switch to SaaS, although it would be nice, the marketplace I am currently selling at does not allow SaaS.

  👤 george_sp Accepted Answer ✓
Hey, first of all congrats. To be honest with you your description is vague and I expect not for no reason, so I'll also give a generic answer as I believe the "correct" answer (if there is one) lies within the specifics of your domain.

I see no problem in extending an already successful product with a set of new features. You can always keep your promise regarding one-time licencing, that does not mean you cannot create a business model on top of that that leverages addons for example.

Personally I feel that spinning up a standalone product involves more risk as a rule of thumb, but again, the answer lies within your domain.

If I had the choice I would probably leverage the "already achieved" success and since you believe that this feature will help your customers, I would give them the feature within my product suite. Also more revenue does not exclusively mean higher price. It might also mean *more* clients.

Hope any of this helps.

👤 majestic5762
Think strategically. You want to improve your current product with new features that will bring more revenue, but reality is that you could make even more if you rewrite it. So do it in parallel, plan accordingly and invest wisely. Don't rush, just start and make little steps often. Eventually you will surprise yourself with how much progress you made. The easy path is to get comfortable now but this might expose you in the future.