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Welcome to our newsletter! I came across a story recently that got me thinking about how we approach opportunities, and it might resonate with you too.
The story goes like this:
Two salesmen were sent by a shoe manufacturer to a rural part of India to check out the market potential.
The first salesman reported back, “There is no potential here. Nobody wears shoes.”
The second salesman reported back, “There is massive potential here. Nobody wears shoes!”
So, which salesman was right?
Most people lean toward the second salesman – the one who saw potential in an untouched market.
But personally, I’d side with the first salesman. Here’s why: unproven markets can demand enormous resources upfront. With untested markets, you’re often responsible not just for selling your product, but for educating people on why they need it. It’s a double investment. When you add up the costs of marketing, customer education, and time spent just to build basic demand, it can be overwhelming – especially when there’s no guarantee the market will respond as you hope.
Even if you break through, that uphill battle can be exhausting and expensive.
I learned this somewhat firsthand with The Grizzly Bag. I had a unique product and saw potential. I thought, “There’s a need for a heavy-duty, reusable dumpster bag. People will love this.” And while there was already a similar product out there, the overall market for it wasn’t as mainstream as I initially assumed. I realized quickly that customers didn’t necessarily understand the product’s full value right away – they needed to be educated on what it was, how to use it, and why it might fit their needs better than a traditional dumpster.
With the bag positioned as part of my overall dumpster rental business, it naturally attracted attention from customers who were already looking for waste solutions. But when I tried to market it as a standalone product, the costs mounted. The reality set in: I was spending significantly more on ads and customer education than the bag’s sales were bringing in. The profitability just wasn’t there at the pace I needed it to be.
This experience reinforced my belief in tapping into proven markets. In a market where people are already buying, they understand the value of what’s being offered. You don’t need to start from zero, convincing them of the need for your product – they’re already familiar with the solution. That familiarity shortens the sales cycle and increases your likelihood of success. When people see a need for what you offer, they’re open to hearing about why yours might be the best choice. It becomes about showing them why your product is worth their attention rather than convincing them why they need it in the first place. That’s a big difference.
If you’re weighing your options, consider this: even the most innovative ideas often benefit from entering a market where demand exists. It doesn’t mean you can’t be unique – it just means you’re building from a foundation that already has customers who understand the problem you’re solving.
When it's all said and done, there’s room for both approaches, but in my experience, there’s a lot to gain by perfecting and improving on what people already know and value.
How about you? Do you lean toward creating the next big thing, or are you building on something that’s already got traction? Reply to this email and let me know. ✌️
Justin Hubbard
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