People seem to be misunderstanding me when I say:
"Go after a market with strong demand."
I'm NOT saying:
"Build a product in a popular market."
"Build a product in a market with lots of competitors."
"Build a copycat when you notice a product doing well."
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It doesn't matter how good of a surfer you are.
No wave?
No surfing.
It doesn't matter how talented of a founder you are.
No demand?
No business.Pokaż ten wątek -
Another misinterpretation: "Market with demand" ≠ "Popular" or "easy" market None of this is easy. Most good opportunities are not obvious (especially to outsiders). You're looking for evidence of unmet demand in a category that you understand!pic.twitter.com/p4mssWT3kI
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If customers already have multiple options (that they're happy with) it's most likely a low-demand opportunity. This is why bootstrappers probably shouldn't build another to-do app, project management app, etc... (unless you've truly noticed some untapped demand).
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I'm not advocating that anybody go head-to-head with incumbents unless they truly have the ability to do so. Beginner surfers shouldn't compete with Kelly Slater. But, if you're Italo Ferreira... go for it! (
@docsketch can go after Docusign because Ruben has serious SEO skills)Pokaż ten wątek -
You should look for demonstrated demand, but that doesn't mean it will be obvious or easy to spot!
Most likely, you'll spot opportunities in spaces you're already spending time in.
Look for folks demonstrating effort (time or money) who haven't found a good solution.Pokaż ten wątek -
When I use examples of successful companies it's for *context*. I'm not advising that you go and try to start a similar product in a similar market just because it worked for them!
These examples are illustrative, not prescriptive!https://twitter.com/mijustin/status/1303890067681804290 …Pokaż ten wątek -
Look for momentum that's building, not a wave that's cresting. The examples I give are of founders who saw an opportunity at the right time and had the skills, connections, and resources to take advantage of it. Don't ride their wave, find your own!https://twitter.com/tylertringas/status/1303886991151505409 …
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"What do you think about the CRM/PM/Metrics market?" It doesn't matter what I think.
What matters is:
- how have you seen demand demonstrated in that market?
- what gaps exist that nobody else is serving?
- what strengths, skills, and connections do you bring to the table?pic.twitter.com/ELxk5txGWXPokaż ten wątek
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