Jason M. Lemkin explains when to expand your product line. He suggests waiting until you've captured about 10% of your core market before adding new products, since market size limits how much a single product can grow.
Talked about it from gainsight at the end. Yeah.
It can be incredibly distracting for both your engineering and product team and your go to market team to juggle multiple value propositions, customer types and potentially neglect your core product. So how do you know when is the right time to invest in a new product line? Are there any red flags for when it's obviously the wrong time. And how do you think about what is fundamentally a new product line versus a very large feature?
A lot of really good questions that could be a whole session. Right? Let me give my overly simplistic answer to all this. 101,0001-0000-1010-0010,000. Now let me explain. No matter what you do, you're going to hit some TAM issues. People talk about multi product but the main reason great founders talk about it like Spencer and Jack is because they're starting to exhaust the market for their initial product. Right. It's not a weapon or to make. It's because they're worried that Once you approach 10% market share not in the whole world but in your core IC.
