Thread by @mijustin

If you've ever tried fishing, and you've been in the same spot all day, and have only had a few nibbles... that feeling is very similar to what it feels like when your business doesn't have momentum.

For business (and fishing) the problem is almost always related to one or more of these things:

1. Wrong market (targeting the wrong fish)
2. Wrong spot (you're not where the fish are hanging)
3. Wrong bait (you're not offering them something they want)

I know it's cliche, but the only way to get the fish you want to catch is to find out which waters they're congregating in.

(This also applies to business)

If you can't find fish (or customers) it's because:

1. The fish you want are exceedingly rare
2. The fish you want are hard to catch
3. The fish you want are inaccessible (hard to reach)
4. The fish you want don't congregate in groups where you'll have a chance to catch them.

Don't target customers that are rare, hard to find, hard to reach, hard to convince, or don't have sufficient numbers to build a business on!

Sometimes, you start with bait and a rod and you'll ask:

"What fish can I catch with these?"

The business equivalent is starting with a product idea, and asking:

"What kind of customers can I attract to this?"

It's definitely harder to do it this way.

It's easier to find a pool of hungry fish, and then give them the bait they want.

Likewise, if you find a pool of customers who are hungry for a solution, it's easier to build a product that they'll want.

One reason I like this GIF is it's a good depiction of what traction feels like.

The fish are so excited, they're literally jumping in your boat before you've even taken out your fishing rod.

How do you know when you should pack it up and go find another fishing spot?

@derrickreimer has a good post on that here:
derrickreimer.com/essays/2019/05…

It’s a good sign if you’re at a fishing spot, and you see good anglers pulling out fish. 🎣

That means with the right bait and the right skill, you can catch fish too.

When Airbnb showed up, hotels, hostels, and B&Bs were already fishing in those waters; they could see there was plenty of fish! 🐠

By the time ConvertKit showed up, MailChimp had already caught millions of fish. But that just meant it was a good fishing spot.

There are examples of anglers who set out to catch Blue Marlin (a rare fish found in tropical waters).

They grind and grind and grind. A few lucky ones will hook one.

It’s the same with businesses. If you choose a small, difficult target market, your chances of success go down

I think this is the fundamental misunderstanding about startups: you’re not “creating” a market.

The market is already there. (Or, there is no market).

Our job as product people is to serve that market better than they’re being served right now.

It’s one thing or the other: there’s either enough people in motion, or there’s not.

You don’t have enough time, money, and energy to change people’s minds.

They’re either motivated to find a solution, or they’re not.

You can build an incredible product for a bad market (small, no money, not motivated) and you’re guaranteed to fail.

But in a large market that’s hungry for solutions (and has money to spend), even mediocre products win.