Massive markets and grand visions are great things for a company to have, but the problem with focusing too much on things like market size, macro data, trends, etc. is that they’re not able to pay for stuff 🙂 Customers pay for stuff.
Tackling a massive market or capitalizing on a new frontier starts with getting the first customers. If your product isn’t solving a problem or delivering value to a given customer base, TODAY, you’re not going to get very far in the short-term. If you can’t find 10 people to use your product, you can’t find 100, and certainly not 100 million.
When listening to a pitch, one of the first questions I ask is “how many customers do you have and how much have they paid you?” Then I start thinking about the size of the opportunity.