[nicw]

I’ve done this for several industries now:

Get out of the library and start talking to people in that field. It will take some time and have some slow starts, but the only way you learn about an industries inefficiencies and its opportunities is by hitting the pavement.

You’ll need some explanation “story” to help people understand your intentions. I am upfront and say I am interested in their space personally, and I’m looking for business opportunities - but I Don’t Know What I Don’t Know, and therefore I’m in listening mode.

With your example: Go to the stall owners, and ask if you can talk when they’re not busy. Ask little, listen a lot. Stand there for hours and observe the different stalls. Take notes.

Map out the different players, and ask to talk to them. Eventually you’ll get connected to events that they attend, and they’ll also pass you along to their peers. Ask what conferences they attend and so on.

[nielsole]

What is your experience, are people willing to talk for extended time with strangers about their businesses? They will definitely know ballpark numbers about everything, that they might be willing to share.

[nicw]

Yes, most people are definitely willing to talk, IF you show that you value their time, and give them some context about why you're asking.

Show that you value their time by setting the space upfront, and when you're 10 minutes away, tell them "We have 10 minutes left, and I want to respect your time...". They'll decide to keep rambling or not.

Re: numbers, you can also preface with "I'm not looking to know anything confidential, but since I don't know your industry, as we talk, it would be great to have numbers with some context.

Here is my verbatim intro for learning more about cities+construction:

"Hi! I'm a technologist who left the tech world, and I'm focusing on how I can help cities. Particularly helping cities make better decisions with Data.

To prevent building something that doesn't help cities, I'm listening to key people in your space and understanding the problems they face. I'd really like to get an understanding of your role and the issues you face, particularly around the permitting process, and code compliance.

The conversation is less than an hour, and I can meet you in person, or over the phone. The questions are lightweight, no quizzes here. :)"

- nic

[tpaschalis]

In my experience (not the original commenter), people like to talk, especially when the subject is their expertise. Just approach people in a sincere, hearty way.

It is a slow process, but when you're in that "listening mode", you get to hear about their (and their industry's) day-to-day challenges, problems that they encounter, and their current answers to those problems. They might not give you their whole financial records, but the insight you get is far better than what you'd end up with after searching the Internet for an afternoon.