The few product ideas we came up with following the above process we dropped, often because we discovered that that space is ultra crowded or commooditized. GoDaddy founder Bob Parsons once said something like (paraphrased slightly) "never be scared to enter a crowded market. Just be better than everybody else". Something to think about. Beyond that, consider that your product is not the only dimension on which you c…
When you stumble across an idea that's actually viable, it feels like "Oh, why has nobody else done this yet? I better get it out there before the competition eats my lunch." It's very likely that you're actually overestimating the threat of competition, but that's because you have domain knowledge that makes the key differentiators of your product obvious to you but inconceivable to other entrepreneurs.
From your perspective, the idea was obvious and different, and that's why people use your product. From an outside perspective, you entered a crowded market and won it by being better than everybody else. The difference is in the level of detail with which you know the market. If from your perspective it appears to be a crowded market and you just need to be better than everybody else, you probably aren't going to be able to build that better product.