Yesterday, I wrote about how easy it is to sell ice cream on a crowded beach: https://t.co/a9z2ZTixb7
Today, Iโm 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 itโs a good reminder:
๐ If you have a lemonade stand, itโs better to go somewhere hot, where there are a lot of thirsty people.
๐ป If you want to make software, itโs better to go where there are a bunch of potential customers.
BTW - targeting a good market doesnโt mean youโll automatically win!
There are a TON of factors that influence a businessโ 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 ๐ฆ, other days they want ๐ฅค.
The economy can go up, or it can crash.
A good competitor can come in and grab market share.
But this reinforces the point:
โBusiness is already hard, why make it harder?โ โ @asmartbear
Why try to enter a niche where thereโs no demonstrable demand?
Why try to serve a total addressable market of 500, when you could go after 500,000 potential customers?