Market-First Approach for Start-Ups

Great advise for creating a product (web app) on the web, which is supposed to make money:

Great advise for creating a product

Go with the market-first approach as opposed to idea-first approach. If you are confident that you will be able to make a good enough product/prototype, I suggest taking the following approach:

Find an industry (ideally, an old fashioned one) where people are making money

Find the single differentiator which will put your app apart in the already established industry (read or research what pain points are still not addressed by the top 3 solutions)

Make a web app, market it, refine it based on feedback, and monetize the app

Slowly incorporate all standard features expected from a solution in that industry so you can shoot to becoming a market leader