
What would you do if you realize the market you target is smaller than expected? - master54

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sharpshoot
Whats your startup?

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master54
I messed up. I thought the audience my startup was targeting is huge. Turns
out, it's really small.

If you realize this 8 months after launch, what would you do?

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Tichy
Perhaps you could grow it? How do you define "target audience"?

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master54
never mind what's my startup. what would you do? would you continue or would
you do a kiko?

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bilbo0s
If it can be targeted to another market group, do so. If you make, say, tensor
analysis software, then your capacity to go after another group is dubious. In
this case, it may make sense to go upstream. That is, find out what your
customers would use the tensor analysis software for, and offer that service
or make that product for your customer's customers.

And now for the best option of all, FAIL!

You and your startup team were mistaken about something as fundamental as the
size of the market you were targeting. Please ponder that fact seriously. Why
were you mistaken? Emotional attachment to an idea? "Irrational Exuberance"?
Is there reason to believe that decisions taken from this point on will be
based upon more factual foundations? Sober answers to all of these questions
sound good in interviews for new jobs. Sober answers to these questions sound
like music to the ears of Venture Capitalists or Angels when one is starting
up a new venture.

Fail fast and learn.

Then demonstrate that you did so.

~~~
master54
This realization comes from insights of our startup and our competitors.
Collectively, it is pittance.

