Planning for 2021?
Forget about your passion; think about market dynamics.
- A THREAD
Forget about your passion; think about market dynamics.
- A THREAD
In 2011, I was advising a Kenyan startup that wanted to create locally relevant games for the African market.
After reviewing their business model, I told them it would not work.
I asked them to pivot to an enterprise business model.
Why?
After reviewing their business model, I told them it would not work.
I asked them to pivot to an enterprise business model.
Why?
Why?
1. Data penetration was low in 2011.
2. The payment ecosystem did not exist to monetize the games.
3. The market for paid games was not big enough.
4. Poverty.
Their response:
We are passionate about games and will make it work.
1. Data penetration was low in 2011.
2. The payment ecosystem did not exist to monetize the games.
3. The market for paid games was not big enough.
4. Poverty.
Their response:
We are passionate about games and will make it work.
The business sputtered for a few years and died despite their intense passion for gaming; their amazing technical skills; and the intense love/admiration of their diehard fans.
The key driver of business success is not passion; it is market dynamics.
The key driver of business success is not passion; it is market dynamics.
Start with the market as you explore business models for 2021.
Your passion will come as you build competence, attain mastery, and make money from your idea.
Your passion will come as you build competence, attain mastery, and make money from your idea.
Watch this video by @profgalloway for context.
Passion is a rich man's game.
The rest of us have to build business models around market dynamics, not passion.
Passion is a rich man's game.
The rest of us have to build business models around market dynamics, not passion.
BTW.
That business was 10 years too early.
I think the ecosystem has developed enough for it to be a strong contender in 2021.
Timing also matters.
That business was 10 years too early.
I think the ecosystem has developed enough for it to be a strong contender in 2021.
Timing also matters.
You should watch this video to turbocharge your 2021 goal-setting/planning process.
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