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Your Product Doesn’t Need Another Feature
Adding product capabilities dilutes product value over time.
In the world of SaaS there are enumerable products that solve very specific problems. If the product creators solve a problem well they will gain traction in the marketplace.
Along with growth comes a deeper understanding of customer needs and inevitably the growth in the product to meet those needs.
Adding new features to a product is addicting. Early insights become a race to provide solutions. The thrill of building something and shipping it to your customer comes with a great deal of satisfaction.
But there is a tipping point. A point at which the value of adding new features begins to diminish the value of the product.
Over time and feature development, the product is pitched as the “all in one solution for the market”. You have served your customers so well that you can do everything for them. True, it solves a lot of problems, but never fully.
Think about your own business. How many enterprise solutions do you use where you compliment the software with a spreadsheet companion. The spreadsheet gets to be unwieldy so you enlist the products customer success team and the discovery process for the next new feature begins.
