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> The business I work for isn't revolutionary or anything, but the owners have decades of experience in it so they know the market. THAT'S how. Or at least, t
by webmaven 6y ago
> The business I work for isn't revolutionary or anything, but the owners have decades of experience in it so they know the market.
THAT'S how.
Or at least, that is one of the more reliable ways.
Of course, a plan that starts out "First, spend a couple of decades learning everything about a particular niche market... " isn't, by definition, a recipe for overnight success.
Nevertheless, you will have to become some sort of expert in your chosen market, or someone who is one might eat your lunch.
If you're creating a new market or category, you are by definition the expert, but that doesn't mean you will succeed, because perhaps you're an expert in a market that doesn't really exist, or is too small or too hard to monetize to support your business model.
You can start with a problem you see (or think you see) 'in the wild' (sharing files with friends is too hard), or you can start with a particular type of user (people who have an extra room to rent out), or you can start with an industry (eg. home landscaping).
But you almost certainly shouldn't start with the solution (although as technologists we are often sorely tempted), no matter how cool, except in the case where the user is themselves a technologist.
Anyway, starting with one of "I want to solve $PROBLEM" or "I want to help people like $NAME" or "I want to create solutions for $INDUSTRY" and you won't go too far wrong as long as you keep examining and testing your assumptions.
- aworkerbee 6y agoThank you the thoughtful reply. I think "starting with the solution", or the end might be my problem. Not in terms of technology, but I think: how can I make the most money with the littlest effort, with the best chance of success, in order to provide a secure existence for myself, my parents. "I want to solve $PROBLEM" isn't a root desire for me, I just want to make money. You've given me some things to think about!
- deleted 6y ago[deleted]
- salmonlogs 6y agoMaking money is the outcome when you build and sell something of value to others. If you don’t find a problem to solve or a way to deliver value to others they won’t be willing to pay you enough to generate a profit. As per the comment above you should not underestimate the value gained from experience. Having a deep understanding of a domain or market gives you the ability to see a problem, build a solution then clearly position and articulate why your solution is valuable. If you purely focus on trying to make money for yourself you are really going to struggle to generate any significant money. You might be able to find a niche here or there but without understanding your customers and users you are unlikely to retain them or grow your user base. Just my perspective!
- webmaven 6y agoIf he problem you are trying to solve is the precariousness of existence, there are other avenues to explore other than $MAKE_MONEY_FAST, and most any solution you find may lend itself to being monetized. Sometimes, the problem (at the margin, anyway) isn't lack of money or expenses that are too large per-se but irregularity of income and-or irregularity of expenses. There may be solutions you can devise to smooth things out. There may be money-saving solutions you can devise that could be marketed to a wider audience. There may be income generating solutions (eg. marketing, adtech, and similar) that you can sell to businesses. Anyway, try to dig a little deeper into what motivates you, and see if there is a problem there that you can make into a passion.