One of the challenges of pitching a new idea is that, inevitably, you have to be able to compare it to an existing idea for people to understand what you're pitching. This is doubly true when talking to investors.
This is something we've really struggled with.
I'm not (too) dumb -- it's not as though I just claim we don't have competitors. But I have had a hard time picking a market segment that really fits what we do.
The past few days unleashed a freak set of circumstances that is soooo not interesting enough to explain, but they set me off on a course that has started to yield some interesting results. There are some big public companies in the space I've found, they're charging huge sums of money for their products AND we do something quite interestingly different to all of them.
I even saw a Powerpoint with 3 slides that look amazingly similar to some of the key points of our standard deck.
This is a big deal!
Just as Hollywood loves the "it's Jaws... in space" kind of pitch (that one was for Alien, if you're wondering) I think there's a lot of power in "It's X, but with Y" kind of statements, even though they gloss over a lot of detail and make CTOs very nervous.
All of which is a long-winded way of saying I've been buried in some market analysis this week. As I go deep on the space I'm looking at, I started searching on ISVs to see what kind of reseller partners are operating in the space. Partnering with resellers is one of many strategies we're considering for certain markets.
I don't want to give too much away just yet because I haven't finished doing my homework, but as you'd probably guess, we are basically in a database management and integration related field.
Which is why, when surfing to the site of a "recommended" ISV, I found the following message rather ironic:
Oops. But hey, at least they have a web site unlike this company ;-)