Niche Markets That Are Too Small

Niche Markets That Are Too Small

I'm not a fan of Gary V. I call him 1DV because he's so 1 dimensional. Work, hustle and enjoy life when you're old I guess? I get it, Gary V is a work-a-holic type character. Nothing wrong with that if that's how you're oriented in the world. However, it's only only a small minority of men who are like that.

The rest of us want to work hard, build wealth and live a dynamic and interesting life filled with choice. I personally hate the whole self help/growth coaching/mindset, you just need to level up as a person or your skills in business.

Yes when you start hard work and new knowledge is needed. However, at a certain point 90% of your success will come from the market and product you build. Not some deep experience you lack.

This is Sam:

He's worth 20 billion+ from making FTX in his 20s.While impressive you cannot tell me he knows more or has better business skills than any other dedicated entrepreneurs.

I'm not saying he's not brilliant.

I am saying you can't tell me he has more experience/business skills than any other brilliant person from just his short time running businesses.

FTXs growth scale is largely due to the market, demand and positioning.

Yes the people there did a great job but the result would not have happened if the market was wrong. You could take his same skill set and transfer him to the web hosting space and he would likely do 1/1000th the numbers. Once you understand business and product building your growth is 100% going to be controlled by the market size and your position/competition in the market.

The reason why so many people never "take off" is they pick tiny markets that are overly competitive or not particularly profitable. Take my online teaching website for example. It's a brand I run and while the topic has a lot of search volume, there is not a lot of money to be made talking about teaching English abroad or online. Like an entertainment website, it's easy to get traffic but hard to turn that traffic into a significant payday.

If you simply took on bigger markets you would get significantly larger results like my main brand and YouTube channel. Market size and fit in that market is 95% of your results as long as you have hard work and basic business understanding covered. Like how I'm great at creating educational tutorial videos but kind of suck at vlogging or how this guy has been banging his head at the same topic for 10+ years.

There is no deep zen knowledge or personal transformation you are lacking. Its simply there is not enough damn money or customers for your product to be worth a billion dollars or you're the wrong fit for what you're trying to do. Step one to becoming worth seven figures and more is doing it in a market that can support those numbers in the first place.

Final Words

Once you hit a certain level of human competence and work ethic your success in business has far more to do with your market and your product market fit than it does you.

Yes you need to be a top level, highly skilled guy. But put even the most lethal of person in a bad market that is to small, to commoditized or just plain not needed you are going to have trouble.