30percent of people in the world are auditory learner’s and one of the main reason even why YouTube premium is successful is because of them(you can tab the app in your phone but still listen to long videos like podcast). The supply is there but the thing with auditory listeners is they get comfortable with a particular orator so they keep waiting for their content and they also tend to be a very loyal audience and I also agree with the desensitisation to emails point.
Prior-Acanthaceae-31
joined 1 year ago
I believe it’s crucial for you to do market research but I understand where your question is coming from. Being a sole entrepreneur or even with a small team, you might not have the budget to do a full blown market research even I struggled with our question before starting my business but I would suggest you to at-least know about the TAM,SAM &SOM even from a top down approach and also have an idea of the competitors product and pricing because this gives you a clear idea about the market you want to capture and where you are headed. I would advice for you to also consider the porters five forces to test the long term strategic effectiveness of the business. These are basic efforts in market research you have to do or else you would be heavily underprepared affecting your cost metrics as well as your sale metrics because at the end of the every deviation in plan will affect the operational cost resulting in hurting the net profit of your business. This also gives you a fair chance to see if the capital you are planning to employ is at least 2x to 3x above the government bond yield for the risk you are taking. Hence you can decide if the business is feasible to start or not.
10 years of my life, grinding every day with just one mission. I feel 10 to 12 years is everyone’s make or break period if you are in a speculative industry like trying to build a hyper growth startup.