Customers & Competition

Ride a Megatrend

By October 17, 2016 No Comments

The typical startup story goes something like this: an aspiring entrepreneur is tired of being inconvenienced in some way, so she creates her own solution.  After proving her new solution works, she decides to make a business out of it, without giving much thought to the bigger picture or market trends.  This is an opportunistic approach to startups.  You can be successful doing this, of course, but there might be a better way.  Rather than diving right in with whatever opportunity slaps you in the face, play the role of a futurist.  What will the world be like over the next decade or two?  Which industries will explode, and which will die?  Read about current megatrends happening, and think about how you can ride one of those waves.  As Wayne Gretzky put it, you want to skate where the puck is going to be.  By entering large and growing market, you greatly improve your odds.  This is why VCs insist on investing in large and growing markets.  After all, a rising tide lifts all boats.

Matt Sand

Author Matt Sand

Passionate about making a difference through innovation and entrepreneurship.

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