Or at least this how I'm investing. Many ways to build a company and no rules or easy answers
Yes, part of the problem is that the definition of “niche market” isn’t quantified (by # of potential customers, or purchase frequency). But when I hear people say “very small niche market” I think: “they must be referring to a market with only 100s of potential customers.”pic.twitter.com/A1wS5KybDL
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I think of it in the ecological sense where niche means narrowing your focus / specializing to a level where you have a comparative advantage. Which I think is a useful and contestable definition.
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Yes, but even there, you still need to pay attention to the “macro trend” in the overall market: Laravel is nothing without a huge base of PHP devs. FeedbackPanda doesn’t succeed without billions of Chinese citizens wanting to learn English.
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