There are only two ways to take the lead in your market (in your niche). The first is to lure the majority of new users coming into that market. The second is to poach the majority of users from your main competitor.
When improving a product, it's very easy to get bogged down in improving features for no reason at all. So it's worth getting off the ground periodically to take a bird's eye view of the battlefield, asking yourself two important questions.
Question #1. Do we think the market will double or even more in the next year or two? If yes, the big question is, "how will we manage to meet the newly emerging potential consumers in this market before other competitors?" And then it's not about product features, it's about the speed of marketing.
Question #2. If we don't think the market will grow that much - then the big question is, "what can convince users of a major competitor to leave it and start using us?" And here again, the list of features doesn't solve it. Because you have to overcome the inertia of abandonment of the old, familiar and working - beckoning one fundamental difference, while promising no risk of switching.