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Hello! This is my first substantive post (question), aside from the introduction post I made earlier. It's great to be with you all. I realize I'm amongst some real movers and shakers in this forum, and for that, I'm thankful.
Let me pick your brains for a bit if you don't mind, about "glass ceilings" in markets.
Right now, I'm actively on the hunt for a need in "the marketplace." I realize this is what needs to be done, first and foremost, or you have no business. I guess I'm struggling with determining where to go looking for the need. My main concern is that I'll find a need, but it will be in a market that isn't large enough to be a real fast lane opportunity.
For example, I'm a licensed pilot. Let's suppose I go browsing forums/groups where pilots hang out and uncover a need that isn't being adequately met. How do I determine if this idea is worth the time/effort to pursue? After all, when I'm giving my road a destination, as laid out in Chapter 37 of MFL, it has a price. I want to make sure the time spent on the solution for the problem isn't wasted on a market that is too small.
How do you determine if the market is too small? Or am I thinking too far ahead in the process?
BTW I used aviation/pilots as my example market above. That's really irrelevant to the discussion. I'm not asking if pilots are worth/not worth pursuing. I'm just seeing what criteria you all look at before entering a market. It could be guitar players (which I am), or synchronized swimmers for all I care (which I am NOT).
Thanks for any help!
(Don't roast me too bad if there is an obvious sticky post about this that I'm missing
).
Let me pick your brains for a bit if you don't mind, about "glass ceilings" in markets.
Right now, I'm actively on the hunt for a need in "the marketplace." I realize this is what needs to be done, first and foremost, or you have no business. I guess I'm struggling with determining where to go looking for the need. My main concern is that I'll find a need, but it will be in a market that isn't large enough to be a real fast lane opportunity.
For example, I'm a licensed pilot. Let's suppose I go browsing forums/groups where pilots hang out and uncover a need that isn't being adequately met. How do I determine if this idea is worth the time/effort to pursue? After all, when I'm giving my road a destination, as laid out in Chapter 37 of MFL, it has a price. I want to make sure the time spent on the solution for the problem isn't wasted on a market that is too small.
How do you determine if the market is too small? Or am I thinking too far ahead in the process?
BTW I used aviation/pilots as my example market above. That's really irrelevant to the discussion. I'm not asking if pilots are worth/not worth pursuing. I'm just seeing what criteria you all look at before entering a market. It could be guitar players (which I am), or synchronized swimmers for all I care (which I am NOT).
Thanks for any help!
(Don't roast me too bad if there is an obvious sticky post about this that I'm missing
).
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