There are many reasons why products fail. An often overlooked one is how well you understand your target market.
When I started in product many years ago, I made some big mistakes and things didn’t go well. One of those reasons was that I didn’t know everything I needed to know about the target market which made it more difficult to successfully solve their problems.
The key point here is that if you don’t know everything about your target market, you’re likely to miss something that could torpedo your whole product.
As an alternative strategy, if instead you are in the target market, you’re way ahead of the game.
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You’ll know everything there is to know and then some because you are in the target market.
If you want to know more about leveraging this product strategy, read my related blog article.