Right product, *right market*, right time. Need all 3, but if you don’t have the market right, everything is harder.
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W odpowiedzi do @JordanGal @mijustin
I also like the idea of diving into s competitive market. More active = less work to educate.
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W odpowiedzi do @CasJam @JordanGal
Yup, this is something
@earthlingworks said to me recently as well.pic.twitter.com/WU1wuoNZPF
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One problem is that the bigger the market, the harder it is to get attention. The Law of Duality (Ries/Trout) means that the market is mostly taken up by #1 and #2, so if you don’t differentiate well, it’s almost impossible to find traction.
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W odpowiedzi do to @scottbolinger@mijustin i jeszcze
It’s helpful to have a good angle and stand out in a big market, though you can also quickly gain traction by doing well in one of the channels for that market (without any differentiation). Another downside is the need to build a lot more features when many competitors exist
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W odpowiedzi do to @earthlingworks@scottbolinger i jeszcze
Small markets with high WTP can make for lucrative businesses too. Size of market isn’t a limitation IMO. Size * WTP is I think
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W odpowiedzi do to @daverodenbaugh@earthlingworks i jeszcze
Hey Dave, can you give me an example? Also, what does "WTP" mean?
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W odpowiedzi do to @mijustin@earthlingworks i jeszcze
Sure, WTP = "Willingness to pay". That's a term I heard from
@Patticus about pricing, but it's really a metric of how strongly you solve that user's painful problem. Low WTP = vitamin or candy apps. High WTP = aspirin or morphine apps (lol). Also high WTP means ... 1/2 odpowiedzi 0 podanych dalej 2 polubione -
W odpowiedzi do to @daverodenbaugh@mijustin i jeszcze
Great thread Dave! Lots of good points. Small market can be profitable, but your ceiling is capped. That kinda sucks when you stop growing. Can always expand, but it’s not easy.
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W odpowiedzi do to @scottbolinger@mijustin i jeszcze
Yes and no...expansion is more by selling different products to the same customers rather than trying to get more new customers. Again, it depends. Man, I wish we were all hanging out around a fire with some tasty beverages hashing this out...what a great convo it would be
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I'm happy to jump on a Skype call now if you're game. 
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W odpowiedzi do to @mijustin@daverodenbaugh i jeszcze
lol nice...don't you ever work??
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W odpowiedzi do to @earthlingworks@daverodenbaugh i jeszcze
This *is* my work.
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