For a long stretch we were building for anyone who would talk to us. The product worked, sort of, for everyone, which meant it was urgent for no one.
A wedge is the smallest problem you can solve completely for one specific kind of person. The mistake is to assume a small wedge means a small company. It doesn't. It means a sharp one.
Once we picked a single segment, the product got easier to build, the demos got easier to give, and the close rate went up. Same product, narrower aim. That's the entire trick.