I can’t remember where I got the advice but I can’t forget what I learned. It goes something like this…

You can be the best surfer in the world and if there are no waves, it doesn’t much matter. However, you can be just an ok surfer but be in a place where there are lots of waves and chances are, you’re going to catch one and have a good ride.

When starting a company, pick an industry where there are lots of waves!

I think the main point for an entrepreneur (surfer) is to pick a growing industry with lots of demand (waves). I’m not suggesting jumping into something that just has a ton of competition, which validates that yes, there is actual demand. Rather, think about big macro trends that are going to disrupt industries over the next 5 to 10 years and create lots of waves!

When thinking about a new venture, I would look for big trends that will impact a very large number of people and companies. One example is self-driving cars and the disruption it will cause not just to the automobile industry but to all adjacent industries that are part of the driving experience such as commercial real-estate, security, safety, and many more.

Enjoy the Ride!