I think the key part of the story is the market research the guy does to confirm his idea is solid:
At the time, back in 2004, they were kind of the place to figure out what Google searches were happening and what people were looking for. I did a very simple bit of market research. I did a Word Tracker search for “Ferrari rental New York City.” Very straightforward keyword search.
I first did the actual search, and nothing came up. I said, “Okay, well, all right, am I the only one searching for it?” So then, with a combination of the Yahoo keyword tool at the time and Word Tracker, came up with an estimate that somewhere between 50 and 100 people per month were searching for the phrase “Ferrari rental New York.” That’s just New York City. It had nothing to do with any other part of the country.
Essentially, he did that before moving forward on other steps. Is market research one of the "Top 10 Traits of Successful Founders"?
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[ 3.7 ms ] story [ 13.7 ms ] threadAt the time, back in 2004, they were kind of the place to figure out what Google searches were happening and what people were looking for. I did a very simple bit of market research. I did a Word Tracker search for “Ferrari rental New York City.” Very straightforward keyword search.
I first did the actual search, and nothing came up. I said, “Okay, well, all right, am I the only one searching for it?” So then, with a combination of the Yahoo keyword tool at the time and Word Tracker, came up with an estimate that somewhere between 50 and 100 people per month were searching for the phrase “Ferrari rental New York.” That’s just New York City. It had nothing to do with any other part of the country.
Essentially, he did that before moving forward on other steps. Is market research one of the "Top 10 Traits of Successful Founders"?