Market First

Starting a business is a quagmire, but one thing I have learned: there is a worldwide fallacy that if you want to start a business, you need a big idea. Not true, you need a market. People tout the Sony Walkman as a big idea that created a market, but Sony had an existing market, they already had ears, and they lead their customers to a new product. Entirely different from creating a new market from nothing.

Big ideas are a pound a penny – it is selling them that separates the entrepreneurs from the egos.