If I build a product for my business, is it bound to succeed?

Question

I had some problems at my agency and am building a tool to solve them.Can I be assured that there will be more people like me who would like to pay for this?The tool for reference: https://cheatsheet.framer.ai/Thanks

cowsup · Accepted Answer

No, nothing is ever assured, especially not success. Any one of these things could happen:
1. your problem is not as wide-spread as you thought, not enough for it to be profitable for you to maintain this long-term
2. it is not something the average person is willing to pay to resolve
3. the amount of money they are willing to pay is less than the amount you are selling it for
4. your tool gains some traction, someone else sees it and decides to compete with you, and they build something better and/or cheaper
5. people who are willing to pay your rates to do what you offer try it out, and just don’t like it, so they ask for a refund / don’t renew

revskill · Answer

Let's make an analogy.Why do you go to the hospital ? Because you're hurt. You have no choice !The same with business. A succsesful business is the one who knows and solves the pain of customers.Pain is not just demand, it's more than that.

If I build a product for my business, is it bound to succeed?

I had some problems at my agency and am building a tool to solve them.
Can I be assured that there will be more people like me who would like to pay for this?
The tool for reference: https://cheatsheet.framer.ai/
Thanks

Let's make an analogy.
Why do you go to the hospital ? Because you're hurt. You have no choice !
The same with business. A succsesful business is the one who knows and solves the pain of customers.
Pain is not just demand, it's more than that.