Spot on great advice. The big picture is start small (niche, deep pockets) and then grow big (wide market, all price ranges). I see some comments assuming his advice is the end game for an entrepreneur, its just the start.

I will add one note: dont waste money on marketing (google/facebook/etc... ads) when you start small, if you don't have connections that can give you projects/buy your product then pair up with someone who does.