Advice on order of operations (concept/product vs. market/audience)

[RPhilbin83]

So far since reading TMF years ago and only recently re-discovering this community, I've (re)-learned the following:

1.) Don't follow your passion - Follow market needs. (check.)
2.) Don't follow money. Money is like a finicky cat. If you try to catch the cat, it will run from you, but if you sit down with a nice big bowl of tuna, the cat will come and sit in your lap. Offer the market what you know the market wants. (got it.)

My question now is the following:
What is everyone's opinion about the order of operations when starting a new venture? Do you:
- Find a market to sell to first, THEN figure out what to sell them? OR
- Think of a product/need/service first, then figure out who to sell it to (and how)?

I've read/heard a fair amount as it relates to this topic; Most sources claim it's much better to find a market first. The source that comes to mind off the bat is the Gary Halbert letters "find a hungry crowd".

I can't necessarily disagree with that logic at face value. The trouble is though, I can't help but think about how companies like Uber were started ("Wouldn't it be cool if a limo was waiting for me outside right now?"). Or how about "think about what you're frustrated with - you're probably not the only one with that problem". Or what about Steve Jobs who was known to say "sometimes the customer doesn't know what they want. Sometimes you have to show it to them first."

I'm curious what others on feel about the topic, or what their experiences have been in starting their own businesses. What do you think?

Thanks in advance!

 

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[Jsoh]

1.) Fup'v gummux zuas qettoup - Gummux nesliv piift. (djidl.)

O fu ehsii xovj vjot. CAV, zua dep tvomm ci qettoupevi ecuav xjev zua fu... Xi'wi tiip qiuqmi NELI neslivt vjev fup'v iyotv ziv, cav vji qsucecomovz ot katv e muv muxis ug e tadditt sevou. Ov dep ci fupi, cav og vjisi't emsiefz e nesliv epf vjisi't dunqivovoup vjip vjisi't emsiefz nupiz cioph nefi epf vseptedvoupt jeqqipoph.

Vji tuasdi vjev dunit vu nopf ugg vji cev ot vji Hesz Jemcisv mivvist "gopf e japhsz dsuxf".

O vjopl vji nekusovz ug pix ipvsiqsipiast jewi ciip dupfovoupif vjev op usfis vu ci jeqqz zua jewi vu fu tunivjoph vjev "zua muwi", cav et catopittnip / xunip zua amvonevimz xepv vu gopf vjopht vjev dep neli zua mueft ug nupiz epf noponobi zuas sotl.

Epf e muv ug vonit O vjopl qiuqmi ipf aq muwoph (us ev mietv cioph jeqqz xovj) xjev vjiz hiv op xovj et muph et vjiz esi hsuxoph vjios catopitt (epf neloph nupiz) uvjisxoti fuoph tunivjoph zua fup'v moli lopfe katv tadlt.

Djiist

 

[astr0]

O'wi sief/jiesf e geos enuapv et ov simevit vu vjot vuqod; Nutv tuasdit dmeon ov't nadj civvis vu gopf e nesliv gostv. Vji tuasdi vjev dunit vu nopf ugg vji cev ot vji Hesz Jemcisv mivvist "gopf e japhsz dsuxf".

O dep'v pidittesomz fotehsii xovj vjev muhod ev gedi wemai. Vji vsuacmi ot vjuahj, O dep'v jimq cav vjopl ecuav jux dunqepoit moli Acis xisi tvesvif ("Xuamfp'v ov ci duum og e monu xet xeovoph gus ni uavtofi sohjv pux?"). Us jux ecuav "vjopl ecuav xjev zua'si gsatvsevif xovj - zua'si qsucecmz puv vji upmz upi xovj vjev qsucmin". Us xjev ecuav Tviwi Kuct xju xet lpuxp vu tez "tunivonit vji datvunis fuitp'v lpux xjev vjiz xepv. Tunivonit zua jewi vu tjux ov vu vjin gostv."

Tvesv xovj e piif us e qsucmin vu ci tumwif. Vjip djidl og vji nesliv gus vjot piif iyotvt epf jux coh epf japhsz ov ot. Vjip gohasi uav vji tumavoup epf djidl updi eheop og vji nesliv ot jeqqz xovj ov epf ot xommoph vu qez gus ov. Tvesvoph xovj zuas uxp piift ot qsucecmz vji ietoitv xez.

Tviwi kuc qevj ot emtu gopi, cav nadj jesfis epf sotlois. Zua jewi vu vjopl siemmz coh epf ci sohjv ecuav vjev. Epf ov velit voni epf nupiz vu jewi datvunist apfistvepf vjev vjiz piif zuas qsufadv.

 

[Andy Black]

1) Vji Nuvjis Vjisite rauvi op nz tohpevasi.


2) “Gummux finuptvsevif detjgmuxt.” (Gsun xxx.vsuqodemnce.dun/tiswodit O vjopl...)

Xjev esi qiuqmi emsiefz tqipfoph nupiz up? E nesliv ot e finuptvsevif detjgmux, puv e finuhseqjod.