413: How Important Is Choosing a Good Market for Your Startup?

In today’s episode of The Startup Chat, Steli and Hiten talk about the importance of choosing the right market for your product.



When developing a SaaS product, choosing the right target market is the most critical step in planning a successful launch of your product. And making this choice comes down to understanding two things - tailwind and trend.



In this week’s episode, Steli and Hiten if the CRM market is still a good market to get into, why you shouldn’t worry so much about the right market and focus more on executing properly, the two T’s to determine a good market and much more.



Time Stamped Show Notes:



00:00 About today’s topic.



01:44 Why this topic was chosen.



02:12 Steli’s response to the question of if the CRM Is a good market.



02:47 Why you shouldn’t worry about the right market.



04:00 The two T’s to determine a good market.



04:43 How to know a good market from a bad one.



05:55 The importance of thinking through if a product has tailwind and if it’s a trend.



07:38 How there’s a growing trend for business to move to SAAS.



09:33 Why the market you’re in is an important thing to consider today.



10:11 How Evernote hit on a tailwind.



3 Key Points:



The less great you are in your execution, the more the market and timing matters. I think that for us, I don’t care how competitive our market is. The truth is, I don’t rely on the market to make things happen.

Startup?