Brian Kathman, a serial entrepreneur and tech executive, describes what a target market entails and how to define it by solving customer pain points.
- Finding your target market is really difficult; it doesn’t just fall into your lap.
- Listen to your actual/prospects customers; understand their pains, price tolerance, etc.
- Stay focused on building only the products that customers will pay for, understanding the perfect target customer profile and defining a recipe for acquiring more similar customers.
- Keep your eyes open for additional opportunities (e.g. new/up-sell products) to grow in a focused manner.
01:20 Brian’s background (born, school)
02:25 Brian describes his current startup, Signal Vine
04:35 Brian defines the term “Target Market”
07:05 Personal story of how Brian’s team found their target market in his first startup
12:00 Brian discusses how long and what it took to pivot
14:55 Takeaways (see above)