"The Market Curve: Reducing Information Anxiety with Joggo"

Kazuki

Hatched by Kazuki

Aug 04, 2023

3 min read

0

"The Market Curve: Reducing Information Anxiety with Joggo"

The market you choose to serve is crucial for the success of an early-stage startup. However, for many technologists, it remains a blind spot. Understanding the market size is essential, but it's not just about the number of customers. It's also important to consider how much they will pay. After all, the market size is determined by the number of customers multiplied by the revenue per customer.

Where you are on the market curve will determine your sales strategy. If you have a smaller number of high-value customers, you can invest more in sales, implementation, and customer success to ensure their satisfaction. On the other hand, mass-scale consumer apps often rely on a large user base and are either monetized through ads or optional subscriptions. For these apps, the question to ask is, "How big can this get?"

Joggo, a company that aims to reduce information anxiety, was born out of a pivot. Initially, Joggo focused on creating a payment network that eliminated fees for merchants. However, they realized that while there is an abundance of knowledge available, people's time to consume it remains limited. It's a media paradox - you don't know if the time spent consuming content will be valuable until after you've consumed it.

Joggo's solution is to provide summaries of content, not as a replacement for the actual content, but as a way to give readers insights and help them decide whether to delve deeper. These summaries also serve as pre-written notes, aiding memory and recall. Creating a great summary requires a deeper understanding of the content, and Joggo believes that human involvement is crucial, at least for now. Consistent formatting ensures that users can consume the summaries quickly.

Joggo focuses on content that takes longer than five minutes to consume, as shorter pieces may not provide enough value or quality in a summary. They also avoid short-life news, recognizing that such content has limited long-term value. This approach addresses the problem of accumulating unread content, which often leads to missed opportunities. Saving content for later without revisiting it means potentially missing out on defining ideas.

While friends are a good source of information, shared links often get buried in conversations or forgotten. The summaries produced by Joggo enable people to consume more content in less time. Sharing a one-minute summary that captures key insights can make a team smarter without taking up excessive time. However, it's important to note that summaries serve the purpose of information selection and filtering, not deepening understanding or generating new ideas.

Avid readers and content consumers who have limited time are a strong audience for Joggo. Access to relevant information is challenging, and distinguishing signal from noise is becoming increasingly difficult. People trust brands, but the rise of individual media brands is changing the landscape. Many are willing to pay to support these individuals and enjoy a curated feed of information from them.

In conclusion, understanding the market and reducing information anxiety are essential for startups and individuals alike. Here are three actionable pieces of advice:

  • 1. Conduct thorough market research: Understand the size of the market, the number of customers, and how much they are willing to pay. This knowledge will shape your sales strategy and determine your potential for growth.
  • 2. Embrace curated content: In an era of information overload, relying on trusted sources or curators can help you save time and access valuable insights. Utilize tools like Joggo to consume more content efficiently.
  • 3. Engage with content intensively: While summaries are useful for filtering and selection, deepening understanding and generating ideas often require immersive reading and interaction with the content. Find a balance between summaries and in-depth exploration to maximize inspiration and knowledge acquisition.

By combining market awareness with effective information consumption strategies, startups and individuals can position themselves for success in an increasingly competitive and content-rich world.

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