Why Your Startup Shouldn’t Chase a Specific Market

If your product works for everyone, then it will also work for a niche market

Facebook was built for college students

You might be familiar with the Hollywood lore of Facebook being built as an inside joke in Mark Zuckerberg’s dorm room. What most people forget is that for some time afterward, Facebook access was limited to college students, going so far as to only allow access for folks with email addresses that ended in “.edu.”

Do one thing and do it well?

Putting the market cart in front of the product horse is a really easy trap to fall into. And it gets condoned more often than you think — student entrepreneurs are encouraged to develop products for other students, tech entrepreneurs to develop products for other coders, marketing entrepreneurs to develop products for marketers.

Solve the problem broadly, then tune it for niche markets

Starting broadly is a much less daunting task than it initially seems because all it requires is a simple mind shift. Instead of focusing on which customers will buy your product, focus instead on what your customers will be buying.

Here’s why you don’t limit the market

Every startup has three stories. The A story is what you’re working on today, the B story is the bigger picture, and the C story is the billion dollar story.

Answering two questions with one answer

Much like what I just did with the television-to-startup analogy, you can take the broad approach too far.

I’m a multi-exit, multi-failure entrepreneur. Sold ExitEvent. Building TeachingStartup.com & GetSpiffy. Former Automated Insights. More info at joeprocopio.com

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