“The most important factors to look at are market size, growth, and competitors. Gather data on how big your market is but don’t forget to take into account that the market could be bigger if it were addressed in a new, innovative way. A great example of this is the iPod, which actually drove the expansion of its own market. It’s also important to track competitors, but don’t let it become a distraction. Don’t be reactive, and don’t let your product vision be driven by competitors. Polyvore’s market has definitely been heating up lately. The fact that a technology giant like Google has entered the space only means that it’s an interesting and worthwhile opportunity.” — Jess LeeAB
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