Some entrepreneurs choose the existing market established by other companies and frequently it’s already a bit congested. Others choose to cultivate one by themselves so that there is no one else to compete, which I believe rarely the case especially for the Internet related businesses.
Whether you choose the existing market or not, you will have to find an entry point where you think your startup can outperform others from the beginning and later stick one of your legs there.
This leg is thought to be particularly important not just in the beginning but also when your startup decides to pivot years later if not months. Without securing a leg, there is a good change that the startup will fall when it actually tries to pivot. This often means leaving the entire users, lack of tractions, or simply a company going nowhere.
I’ve seen many entrepreneurs ended up with this situation and I know from my experience this is the case to many startups that could not survive. If your both legs are detached from the ground, anything you do is pretty much same as pushing a yarn in the air. You will get no reaction regardless of what you do.
This is why identifying the right entry point is very crucial to all startups because that entry point eventually becomes the place where you will decide to stick your right leg later. Many entrepreneurs tend to follow the market established by some pioneer companies and they soon find out there is no place left to secure their leg. Photo sharing, social commerce, all sorts of social games are good examples these days.
I don’t mean following trend is necessarily a bad thing. But it becomes difficult to find the right entry point if you follow it. My advise is as discussed earlier to focus on actual needs but not just problems. And you have to be super passionate about the problem you are trying to solve. I believe this is the only way for aspiring entrepreneurs to find the right entry point that leads to securing their leg.