Picking the Right Market to Get Started In with Justin Jackson and Tyler Tringas

Episode #152

Transistor.fm founder Justin Jackson (@mijustin) goes head-to-head with Earnest Capital investor Tyler Tringas (@tylertringas) on the topic of picking the right market. The decisions you make when you're just getting started on a project carry the most weight and might affect your life for years to come. How big of a market should you target? How important of a problem should you solve? What does Justin mean when advises working on a "main dish" instead of a "side dish?" And how do a serial founder's views on this topic differ from an investor's?

Show Notes

  1. 6

    Thanks for the call out @mijustin (Justin was SnapShooters first customer :D)

    You are right in saying we have picked a very niche market, Backups for just DigitalOcean customers, and while the market is growing might reach a plateau, we are still growing and had one of our best months last month.

    We have a 2020 plan to overcome the market size the first of which has already been executed was adding another backup support type (MySQL Backups). Personally I am finding it hard to not ruining our good positioning as the best DigitalOcean backup service, by making the water muddy with what we actually do.

    And if anyone does want DO backups or MySQL backups please do checkout us https://snapshooter.io

  2. 4

    Really interesting discussion! and this was really helpful to think about what I'm doing.

  3. 2

    Loved it

  4. 2

    Great episode! Should be mandatory for all new indiehackers to listen this!

  5. 2

    Loads of great points made during this episode. Major takeaway for most indie hackers should be that it's worth evaluating the fundamentals of the market you're in and the problem you're solving before you invest a ton of time and energy into a project.

    Maybe you have the perfect technique, and you're doing everything right, but you're trying to ski down a flat slope, which is impossible. With skiing that problem will be obvious—we evolved to understand gravity—but in business, it's often unintuitive. You have to set aside time and put deliberate effort into evaluating the incline of the slope you're on.