Jul 3, 2012
"You'll hear a lot about why company A won and company B lost in any market, and in my experience, a lot of the theories thrown about – even or especially by the participants – are utter crap."
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"You'll hear a lot about why company A won and company B lost in any market, and in my experience, a lot of the theories thrown about – even or especially by the participants – are utter crap."
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A domain name doesn't win you a market; launching second or fifth or tenth doesn't lose you a market. You can't blame your competitors or your board or the lack of or excess of investment. Focus on what really matters: making users happy with your product as quickly as you can, and helping them as much as you can after that. If you do those better than anyone else out there you'll win. Everything I've mentioned -- not being dependent on a single source provider, preserving users' privacy, helping users actually make positive change in their financial lives -- all of those things are great, rational reasons to pursue what we pursued. But none of them matter if the product is harder to use, since most people simply won't care enough or get enough benefit from long-term features if a shorter-term alternative is available.
An insightful, and at the end, touching, story of how Wasabe failed as told by one of the founders.
Between the worse data aggregation method and the much higher amount of work Wesabe made you do, it was far easier to have a good experience on Mint, and that good experience came far more quickly. Everything I've mentioned -- not being dependent on a single source provider, preserving users' privacy, helping users actually make positive change in their financial lives -- all of those things are great, rational reasons to pursue what we pursued. But none of them matter if the product is harder to use, since most people simply won't care enough or get enough benefit from long-term features if a shorter-term alternative is available.
Why Wesabe Lost to Mint - Marc Hedlund's blog