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Finding Profit in Pain: Market Selection Insights
Selecting a market with a significant pain point where customers desperately need your offering can lead to high profits. Pain points can range from financial struggles to physical discomfort. The more acute the pain, the higher the price you can charge. Articulating the pain accurately in your sales pitch can significantly increase the likelihood of a successful sale. In market selection, indicators such as pain, purchasing power, easy targetability, and growth are crucial factors to consider for entrepreneurial success.