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Is it better to really understand the market before going in? (alien.top)

submitted 10 months ago by TrainingPossible7536@alien.top to c/entrepreneur@indiehackers.space

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People advice me to just go ahead and do businesses and learn from the mistakes, I think it’s just plain stupid to invest on things where I don’t even know who I’m going sell products to. What is your opinion about this?

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[–] Prowlthang@alien.top 1 points 10 months ago

Is it better to buy a black car or a white car? Is it better to live on the beach or in the mountains? Is it better to rent or buy? Is it better lift weights or run? It’s context dependent based on the relative cost to you and the potential opportunity costs of a particular market. It’s impossible to give useful feedback without context.

If you’re opening a restaurant somewhere you better know that there will be food traffic or have a way of exposing yourself to customers who would be interested. If you are creating 14,000 random drugs a year to see what they do then you don’t need a target market you just need enough resources to sustain the failures.