People ask me often what kind of business to start. Usually I say something like “look in the mirror,” continuing with how the best business for you has to reflect who you are and how you’re different. But here’s a new thought for you: choose the market you’re going to disrupt.
This isn’t for the sandwich shop, graphic arts business, dry cleaner, or new restaurant. It’s for the rarified air of the big bang startup. What market doesn’t work? What market can you radically change?
If your new business blows up an old market, then you really matter. Think of Netflix, amazon.com, Google, Hulu.com, and other big winners. ZipCar. Expedia. Twitter. Facebook.
In every one of those cases, somebody applied a new way of thinking to an annoying old way of doing something.
I heard it yesterday from one of the smartest and most successful people I know, my son Paul, CTO of Huffington Media Group:
“I’ve seen the way smart investors work. If it’s a team they believe in, and they focus on a market to disrupt, it’s going to work. They’re going to get going, change it often, and make it work.”
Want to really win big? Blow up a market.