Yesterday, I wrote about how easy it is to sell ice cream on a crowded beach: https://t.co/a9z2ZTixb7
Today, IтАЩm at the local fair.
There are hundreds of vendors.
But there are also huge crowds who are hot and thirsty; lots of demand for cold drinks!
Go where the crowds are!
Again, this is just a metaphor!
But itтАЩs a good reminder:
ЁЯНЛ If you have a lemonade stand, itтАЩs better to go somewhere hot, where there are a lot of thirsty people.
ЁЯТ╗ If you want to make software, itтАЩs better to go where there are a bunch of potential customers.
BTW - targeting a good market doesnтАЩt mean youтАЩll automatically win!
There are a TON of factors that influence a businessтАЩ success (or failure).
But choosing a market that has a lot of demand (and good channels) is essential for future success.
In business, nothing is guaranteed.
You might be in a good market today, but tomorrow it could fall apart.
Markets are fickle.
Some days they want ЁЯНж, other days they want ЁЯед.
The economy can go up, or it can crash.
A good competitor can come in and grab market share.
But this reinforces the point:
тАЬBusiness is already hard, why make it harder?тАЭ тАУ @asmartbear
Why try to enter a niche where thereтАЩs no demonstrable demand?
Why try to serve a total addressable market of 500, when you could go after 500,000 potential customers?