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Tackling big markets is great. Nobody wants to start a company in a market worth $5. Creating new markets is great too, but most startups are built in existing markets – and often they tout the enormity of those markets as a great reason to get into them.
“The mobile industry will be worth $50 billion in 5 years!”
“Advertising online is going to be worth $100 trillion by 2010!”
You can get this sort of data all over the place. Analysts put out reports all the time expounding the growing size of various markets.
The result is that many startups take this approach:
“If …read more