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Bold Entrepreneurs Now Create New Market Categories
Have you noticed that the really big startup wins in the last couple of decades have come from creating and dominating new market categories, more than just new solutions? Steve Jobs was a master new category king, by preaching the need for new thinking as he introduced the iPad, iPhone, and Apple Watch. Uber and Airbnb did the same for transportation and hospitality.
As a startup advisor and aspiring angel investor, I’ve long been wary of startups trying to create new markets out of problems people didn’t know they have, or problems generally accepted as unsolvable. In traditional investor parlance, these markets take years to develop and more money and risk than anyone should consider, so look first for a painful problem in a known market.
Martin Zwilling
Full Story: http://blog.startupprofessionals.com/2016/06/bold-entrepreneurs-now-create-new.html
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