Comments on: Be Your Own Target Market

By: The Idea Chart | Adam McFarland

The Idea Chart | Adam McFarland — Fri, 16 Jul 2010 21:17:09 +0000

[...] successful. Assuming there’s a market for your idea (there almost always is if you’re scratching your own itch), the idea itself becomes of very little value. It’s the execution of said idea that matters. [...]

By: Announcing LockerPulse – Our Next Venture | Adam McFarland

Announcing LockerPulse – Our Next Venture | Adam McFarland — Tue, 16 Feb 2010 00:00:01 +0000

[...] because we’re building something that I’ll use and that will make my life better. I am my own target market. Mike has already been working on some killer designs (I personally love the splash page design) [...]

By: What is Your Pain? | Brooding on Matters | TravisT

What is Your Pain? | Brooding on Matters | TravisT — Mon, 05 Oct 2009 05:45:07 +0000

[...] life issues and examples that he deals with in his company. He recently wrote a great post about being your own target market. I couldn’t agree more with this approach for an entrepreneur. Ask yourself what some of [...]

By: Odds & Ends « Musings of A B-School Professor of Entrepreneurship

Odds & Ends « Musings of A B-School Professor of Entrepreneurship — Sun, 20 Sep 2009 10:08:23 +0000

[...] http://www.adam-mcfarland.net/2009/09/09/be-your-own-target-market/ [...]

By: Adam McFarland

Adam McFarland — Fri, 11 Sep 2009 17:51:47 +0000

Dale – how’s the “SEEF3M” going?

By: Dale Ting

Dale Ting — Fri, 11 Sep 2009 02:28:24 +0000

I think this separates entrepreneurs from businessmen…

By: Adam McFarland

Adam McFarland — Thu, 10 Sep 2009 21:29:03 +0000

Tim – good call I definitely based this post on the conversation we had a few weeks back. Well written as always. “Money chasers” drive me nuts as well, but – to your point – those people tend to talk a big game yet rarely succeed. They inevitably fade away at the first sense of trouble.

By: Tim

Tim — Thu, 10 Sep 2009 14:20:32 +0000

I had a feeling a post like this was coming our way as you know I strongly agree with this philosophy of creating a business. There is an added bonus to solving a problem you have, if you have developed a problem in a specific area it means you already know it(what ever your business may be) fluently, which means you don’t need to spend near as much time bringing yourself up to date with all of the subtle nuances that often mean the difference between success and failure. That is not to say that you don’t have to continue learning, however, it is safe to say you already have a solid understanding and turning that concept into a business will be MUCH easier.

I am a big antagonist of those who are “money chasers” those who want to start a business they know little to nothing about because they think there is a lot of money in it. In my voyage through various levels of entrepreneurship, I probably detest money chasers the most, they are so frustrating and typically incredibly delusional. How many of these people do we all know? How many (i) actually create the business and (ii) are actually successful? That’s what I thought. Monetizing a passion and filling a known void is a much stronger business model, it removes a lot of the reasons businesses fail. That is not to say it is a sure thing, nothing is, but it does stack the deck in your favor and that is all it takes to take it to the next level.

The only risk I see in this is being blinded by passion and being selective about your data collection, regardless what business you are in it is imperative to be grounded in reality – dream big, but keep it real.