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Niche strategy in practice - case studies
The document discusses strategies for starting a business from a niche, highlighting the benefits of focusing on smaller markets before expanding. It presents various successful company examples, such as Tesla and Uber, that began in niche areas and scaled up effectively. Additionally, the document offers insights into business hacks and tactics for entrepreneurs through a related online course.
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Niche strategy in practice - case studies
- 1. 1 How to startfrom a niche? Cases and business hacks
- 2. 2 Successful companies afterachieving the product-market fit manage to start growing almost exponentially ▪ Well executed business hacks, tricks and tactics
- 3. 3 Starting from aniche is one of the most useful business hacks that you should consider when starting a new business line Behavioral contracts Low Cost Models Non-standard advertising space Standing on the shoulders of giants Innovative sellingCommunity Creating barriers of entry Removing barriers Starting from a niche Creating much higher standard Strategic Partners Using the unused
- 4. 4 Thanks to thispresentation you will learn how to start in a niche and what others have done to be successful in a niche
- 5. 5 Click to checkmy course What I will show you in this presentation is a part of extensive on-line course where you can find also other useful business hacks Business hacks, tactics and tricks - practical guide $90 $15
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- 7. 7 In most casesmakes sense to start small from a comfortable niche rather than attack the incumbent players.
- 8. 8 Once you establishyour presence you can attack further segments slowly, but….
- 9. 9 Slowly, but surelyyou expand from the niche…..
- 10. 10 …and you devournew segments. Till you get to the mainstream
- 11. 11 There are plentyreasons why niches are great for developing your business You are invisible in the niche Niches are cheaper – dedicated assets / processes You get strong customer- advocates (the unsatisfied) Niche customer are more forgiving From a niche you may create a totally new market (bigger)
- 12. 12 In most casesmakes sense to start small from a comfortable niche Geographical niche Price niche Limited functionality (unbundling) niche Distribution niche Customer service niche ▪ Specific region, city, type of location ▪ Lower or higher prices than the average ▪ Only on-line distribution ▪ Only on-line service, chat service ▪ Only basic features or 1 of the feature much better than the competition
- 13. 13 Cases of companiesthat successfully implemented niche strategy
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- 15. 15 Tesla has startedfrom a small niche of electric sport cars to test its technology and catch true funs Find and conquer a niche De-risk the model before scaling Enter further segments Go mass-market to get economies of scale 5 100 4 901 5 150 5 500 6 892 6 457 7 579 7 785 9 834 10 030 11 507 11 603 17 478 14 820 18 345 25 185 Previous Years 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 2016 Q3 Tesla production in units Integrated provider of transport (cars with & energy)
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- 17. 17 Uber has startedas limousine rides provider in San Francisco. The end game is the whole short run transportation market Initial Black limousines in San Francisco Expanding into cheaper cars and taxi service Expanding into new cities Expanding into new services (food delivery) End game: all short run transport with autonomous cars
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- 19. 19 Yelp has startedas a service only concentrated on restaurant in San Francisco. It has grown is business to include other cities and businesses First only restaurants in SF Cities were added one by one New small business have been added gradually They have concentrated on promoting the good business For quit some time they ignored restaurants – concentrated on users / people only
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- 21. 21 Twitch (on-line streamingof broadcast of games) is a case when they have started pretty broad but had to go back to a niche to earn money Started as a streaming platform on which you can build your own TV Concentrated only on gaming Concentrated on broadcasters Change the product to achieve alignment between the product and the group Went global on the niche they have chosen
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- 23. 23 Square wanted totake a piece of the payment and cash till market. It started from small independent restaurants They have started with partners that were too small to accept credit cards Lower fees Higher quality (small business were getting their money faster) Expanded into new business i.e. Starbucks Expanded into integrated SaaS solutions including POS, CRM, reservation system etc.
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- 25. 25 Postmates has intentionallyneglected some of its customers (restaurants) to deliver the right customer experience to other group 3-sided market Restaurants intentionally neglected Scaling locations Came back to improving restaurant’s customer experience after other groups were satisfied Scaling revenue streams Restaurant Delivery men Hungry customers
- 26. 26 For more businesshacks check my on-line course. Below specially for you a big discount. You will find there a lot of additional resources Click to check my course Business hacks, tactics and tricks - practical guide $90 $15
- 27. 27 Check also businessmodeling in Excel Business models Practical guide for startups and entrepreneurs presentation
- 28. 28 I recommend alsolooking at some techniques to improve your business. Click on the cover below to go to the presentation How to become world class analyst A practical guide presentation
- 29. 29 ….and how toperform market research Market research Practical guide for startups and entrepreneurs presentation
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- 31. 31 Check my extensivepresentation on productivity hacks to see how you can me 10x more productive Management consultant productivity hacks How to be lazy and still get things done presentation
- 32. 32 If you needmore detailed version on productivity hacks you can check our course on productivity hacks Click to check my course Management Consulting Productivity hacks
- 33. 33 Check my presentationon restaurant business model to understand it properly How to open a successful restaurant A practical guide presentation
- 34. 34 Check my presentationon on-line models to understand them properly On-line Business Modesl A practical guide presentation
- 35. 35 For more checkalso my on-line course Click to check my course
- 36. 36 Check my presentationon starting and running consulting company Start and run consulting company A practical guide presentation
- 37. 37 You can alsofind useful some tips on Excel Essential Excel for Business Analysts and Consultants A practical guide presentation
- 38. 38 There is aninteresting summary of ways to test cheaply businesses MVP – how to test your business idea without building the product A practical guide presentation