Software as a service is an extremely competitive market. While talking to a friend the other day, he asked me where I spend most of my time, and when I told him I work on a project management system, he was surprised that I chose to work in a market which has so much competition.
Competition is good though, but only if you don’t spend a lot of time worrying about the competitors. You have got to believe in the product you are working on and continue to do what’s best for your product, and it’s customer. Keep improving your product based on customer feedback and keep making progress every week.
Competition validates the market, and it’s good to be part of an exchange pre-validated by a lot of companies.