Something everybody wants vs. something one person may want.

There is value in making something that’s useful for everyone. Of course, when you see this opportunity and are successful in it, many other businesses will want to serve that market too. Large markets always attract large competition.

It’s ironic because when someone sees an opportunity in a large market, more often then not, they think it is the correct way to go. However, competition tends to balance all markets. Large markets have large competition. Small markets have small competition.

What size market to serve then really doesn’t have to a be a question at all, as long as there is some sort of market for the work you do.

If you are a table maker, you could make a design that is easily reproducible and create hundreds a year to make a living, or you could produce a handful, each with enormous skill involved and many different unique details. The latter kind of tables are the ones that are going to sell for five figures and that require the right eye to appreciate them.

In modern society, we have what is likely an excess of the first category of mass production, and a shortage of the second. One reason for this, is up until about twenty years ago, we didn’t have the medium of connecting those in small audiences with their target audience. Today, we have the internet and social media. The common wisdom hasn’t caught up.