Many successful bootstrappers targetted large product categories: - Basecamp (PM software) - ConvertKit (ESP) - Mailchimp (ESP) - Campaign Monitor (ESP) - Wildbit (ESP, code hosting) - Kayako (help desk) - Braintree (payments) - Craigslist (classifieds)
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W odpowiedzi do @mijustin @tylertringas
I think a lot of people would consider those companies more the exception rather than the rule. You can be successful no matter what size market you target. I’d argue you have a higher batting average in smaller markets but smaller chance of an oversized outcome
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W odpowiedzi do @dhomann @tylertringas
“You can be successful no matter what size market you target.” Are you sure that’s true?
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W odpowiedzi do @mijustin @tylertringas
As long as the market size is theoretically enough to pay one the equivalent to one person’s salary, then yes.
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W odpowiedzi do @dhomann @tylertringas
I’ve given a few examples of companies and markets here. I’m curious: can you give me a few examples of a bootstrapped software companies that fit your definition of "going after a niche market?"
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Ten tweet jest niedostępny.
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W odpowiedzi do to @syamantics@anupom i jeszcze
I wouldn't consider online English teachers serving the Chinese market a "very small niche market." "From 2016 to 2017, there was a 298% growth from 123.6 billion RMB to 489.7 billion RMB." https://justinjackson.ca/today pic.twitter.com/QqV9bYeh9F
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problem is you're defining niche as "*too small* of a market to be successful" - so then you can look at any business considered successful, expand the definition of their market to something large & say "see the market was not too small"...this isn't wrong, but also not useful
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W odpowiedzi do to @tylertringas@mijustin i jeszcze
Going from 15k to 50k professionals worldwide, most of whom are paying $0 for targeted SaaS currently is far far more niche than "businesses who use email" - clearly both are not *too small* - which begs the interesting question which kind of market is better for certain founders
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W odpowiedzi do to @tylertringas@mijustin i jeszcze
Piggy backing here, my gut is that it’s more useful to define “niche” based on how *specific* your market is rather than the market *size*. Great opportunities for founders likely live in the overlap between “substantial market” and “groups with identical very specific needs”.
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Yes. I agree with this. But many folks use quantitative terms for niche: “Very small group” “1,000 true fans” “Small target market” I like the idea of “a specific definition” of who you’re targeting. (Although, the dictionary definition uses both “specialized” and “small”)pic.twitter.com/lIIyBGs9E0
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W odpowiedzi do to @mijustin@tylertringas i jeszcze
Probably a good idea for us all to start using clearer terminology then for sure
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