Choose an existing market/app and go after it, but only if you bring a 10x differentiator.
Google maps - probably 10x better than the static maps before it.
Word - not 10x better than Ami. Excel - not 10x better than 123. Gmail - different but not 10x better than what I was using.
Nope, I got Google Maps, that's it.
- iPhone and iPad
- Broadband, technically not a product I guess.
- Salesforce.com, if you were around during that time, I think you'd agree.
- Touchscreen Ultrabooks, I don't care what anyone says, I LOVE them!
I can think of quite a few products that weren't all that great upon first release. Sometimes it takes a few iterations/generations for it to really make sense.
If you don't have to actively sell your product then the rules change.
Or you might have a clever strategy for reaching potential customers that the elephant in the room hasn't reached yet. That could be enough to carve a niche on your own.
Could be 10x lower operating costs by moving an on-premise solution to the cloud.
Could be 10x faster config and deployment.