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Key takeaways
- >> I think that you don't need to be original.
- I don't want to go there, I want to go where there's absolutely no proven demand for this thing.
- Are there any products that you think could be done better with you as the customer because you don't need to do the market research, you are the market research.
Chapters
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0:00
Abschnitt 1 I've got the savings to actually start something, but every idea I come up with, two minutes of research shows me 10 people already doing it.
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0:29
Abschnitt 2 What you're describing is just the nature of capitalism.
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0:59
Abschnitt 3 By the way, I think best person to start with is you.
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00I've got the savings to actually start something, but every idea I come up with, two minutes of research shows me 10 people already doing it. How do you pick something to actually go all in on when nothing feels original anymore? >> I think that you don't need to be original. Let me rephrase what you're saying. People want the service or product that I'm considering and there's a clear market and demand for it. I don't want to go there, I want to go where there's absolutely no proven demand for this thing. It's like if you say it like that, it's like, well, no, I'd rather go where the fish are, right?
0:29What you're describing is just the nature of capitalism. There's going to be competition. So, let's play this out a little further. Let's say you you somehow find a unicorn product that no one else has ever made before. What do you think happens next? Other people are going to copy your thing. Yes, there's probably going to be people in whatever space you're in, but they're probably not going to be in every single marketing channel. They're probably not going to be segmented every single avatar. All you have to do is think smaller. So, hear me out. You want to think, is there a very underserved avatar within this specific product? Is there a market that I can go after that other people are not speaking to well?
0:59By the way, I think best person to start with is you. Are there any products that you think could be done better with you as the customer because you don't need to do the market research, you are the market research. And then secondly, is there a unique way that I can uh get them to find out about my stuff that other people are not on, right? Like Tik Tok Shop, things like that are are blowing up, selling on Whatnot. These are all newer platforms that some of you know, existing players aren't on yet. And so, the opportunity is both in who we're serving and how we're reaching them. Both of those things can be unique levers that you can pull in order to actually take something that might be otherwise already done and make it new.