How To Find A Great Target Market
The first step for any business.
Choosing your target market is probably one of the most important business decisions that you will ever make.
From the target market follows which problem you are going to solve, what solution you are going to offer & consequently how much profit you can potentially make.
Choose the wrong target market and you will…
… create a product that won’t sell.
… build a business that isn’t scalable.
… get flooded by competitors.
Unfortunately, most aspiring entrepreneurs get it completely wrong. A seemingly great idea for a product comes to their mind. Something exciting, ‘revolutionary’ and ground-breaking.
And that is where they start from.
The result is that most startups end up building products for which no market exist. Products that might ‘sound great’ and cause interest, but for which nobody is willing to take out their wallet and pay real money.
Something might be super ‘interesting’.
But that doesn’t mean that people are actually willing to pay for it.
