Ignore Competitors, Find the Gap: Canva's Problem-Centered Wedge
On finding an early wedge, Perkins says one of the most important things Canva did was not worry about competitors at all and instead look for a gap in the market it could uniquely fill. With their first company they solved yearbook design for coordinators with no design experience, learning pain points from every customer. Her rule: solve a real, paid-for problem, and better to solve a small group's problem well than a large group's poorly.
- Canva didn't worry about competitors, it looked for an unfilled gap
- First company solved yearbook design by talking to every customer
- A school asking to design newsletters signaled the broader opportunity
- Take a problem-centered approach, not a solution looking for a problem
- Better to solve a small group's problem well than a large group's poorly
“we didn't really worry about competitors at all we actually just saw where is there a gap in the market that we can uniquely fill”
“it's better to solve a small number of people's problem really well than trying to solve a large number of people's problem not very well…”