Identifying a Good Market

When considering which market to go after, it is crucial to assess the value you can provide and empathize with the target audience. If you have personal experience or expertise in a specific marketplace, it is recommended to focus on that market. However, if you have no experience, there are four key factors to consider. Firstly, determine if the market is in pain and has a desperate need for your product or service. Secondly, assess if the market is growing, as growth indicates potential opportunities. Thirdly, ensure that the target market is easy to find, with associations, groups, or channels where they congregate. Lastly, evaluate their purchasing power to ensure they have the means to pay for your offerings. By analyzing a market based on these four criteria, you can identify a good market to pursue.