Couch surfers, people who beg their friends to let them stay on their couch, etc... are all a part of the total addressable market. The fact that there was a name for the phenomenon (“couch surfing”) shows there was momentum in that market. It’s not something Airbnb invented.
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W odpowiedzi do @mijustin
As you said they weren’t targeting the whole traveler market, they were going after the couch surfing market. Yes they grew into something much larger. I think it’s always smart to think about the larger market but target a smaller part of it first.
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W odpowiedzi do @mubashariqbal
Yes, in a way the fishing metaphor works here as well!pic.twitter.com/pNcCo1gVks
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W odpowiedzi do @mijustin
True, but you also have to worry about where the other fisherman are, and how big their net (or how good their bait) is compared to yours. Just another thing to consider. Making decisions is hard
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W odpowiedzi do @mubashariqbal
In a way, but small “bootstrapped” fishers have a big advantage over large commercial fishing vessels. Ruben is taking on DocuSign, and getting good traction (despite the fact that he’s tiny compared to them!)pic.twitter.com/heUmjBSgB4
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W odpowiedzi do @mijustin @mubashariqbal
What do you think that advantage is?
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W odpowiedzi do @louisnicholls_ @mubashariqbal
There are many. One, that
@asmartbear has mentioned in the past is that small bootstrapped startups tend to give better customer support than big enterprise companies.1 odpowiedź 0 podanych dalej 2 polubione -
I think that’s true. And don’t know specifics of Docsketch. But in general I’ve seen founders have a higher success rate in small markets than large. Most of the time, when you niche well and understand your audience, you realize they shouldn’t be in that ‘big’ market at all...
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W odpowiedzi do @louisnicholls_
Can you give me some examples? Happy to be proven wrong. I have a bunch of examples here:https://justinjackson.ca/niche
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W odpowiedzi do @mijustin
Sure - two products I worked on for example (gymhopper and postperk). Small niche markets.
@sehurlburt ‘s binomial is probably a smaller market too...2 odpowiedzi 0 podanych dalej 0 polubionych
Are we talking about "small markets" or "smaller niches within larger markets?" I'm not opposed to targeting a small niche initially within a larger market. My point is that if your total addressable market is only 10,000 worldwide, that's going to be difficult to bootstrap in.pic.twitter.com/PyX9XUDila
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W odpowiedzi do @mijustin
Either or. I get your point and understand why you think that. I just don’t think it’s true (in general, for a majority of bootstrappers. I am v. happy to believe that you have a skill set/background/mindset which makes it true in your case)
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W odpowiedzi do @louisnicholls_
How big do you think the total addressable market is for Gymhopper and Postperk?
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