11–17 of 17 posts
Don't start building until you understand what problem are you solving.
It's easier said than done, that's why so many businesses fail.
A great book on the subject: https://www.momtestbook.com/
If you're trying to make money, just make useless shit that panders to whatever is the venture capitalists' golden goose of the year, rather than anything the market actually needs. You missed blockchains, but you're just in time to proxy user requests to an OpenAI API after wrapping it in a paragraph that boils down to "do what I told my customers my service does"
Going that route one needs a prestigious name on one’s resume, though.
I imagine they target far and wide it's just I only have to see ads on youtube because that's where I like to get my content.
At scale, if you're looking for a big paycheck, what you want to put in the diagram is "nation building" - something that furthers the kinds of goals that governments or the powerful people behind them will pay for. A lot of things that build nations seem like they have to cost a lot and involve lots of capital, but that simultaneously indicates a place for technology to disrupt the dependencies involved, usually by automating, and usually by automating a higher level of quality, not speed or quantity. It's hard to get any right answers, easy to get wrong ones quickly.
https://startfromzero.com "Where Entrepreneurs Get Their Start When They Have No Ideas..." Dane Maxwell teaches/uses a concept called Idea Extraction: 1. Pick a niche. 2. Contact that niche and let them tell you the pains worth solving. Idea Extraction is a form of market research, which is important to ensure you don't build something no one wants to buy. However, I would argue marketing/sales is more important than…
This implies you think selling something "new/different" will be easier to sell. But that might not be true.
- Competition is good because it validates the product/service. It means there is a market and people are buying already.
- "New" things will also have competition (in a different form). Your prospects will likely already have a product/method for accomplishing the thing your product/service provides. For example an air conditioner doesn't just compete with other air conditioners. They must also compete with other ways of cooling like fans or even water.
Then keep planning until you have so many possibilities that you would never be able to accomplish it all.
After that the difficult part will be if you can pick only one of the promising things you know are great, and put major effort in that single direction.