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Fish Where The Fish Are Found

July 31, 2011

I last wrote about creating something useful, as the first step toward success. Another simple, but often overlooked rule is: fish where the fish are located. Too many founders fail to carefully analyze this element at the beginning of a startup’s lifecycle. An example I like to use is as follows: would you start a business to sell snow shovels on the island of Maui? Not likely. Huge market potential is meaningless unless you have access to that market. It’s not enough to say the Internet has global reach. Even with the Internet, market paths and customers require precise channels and specific plans in order to convert sales. So, do plenty of homework and test your theories to ensure you are fishing where the fish are found.

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