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Niche strategy in practice - case studies

The success of many companies depends on figuring out a clever way to grow, earn or operate that will change drastically change the game, stack the cards in their favor. There are many interesting business hacks that give this result. In this lecture I will show you how one of such business tactics – niche strategy has been successfully implemented in many businesses. This powerful tactic applied has already disrupted many industries like automotive, many marketplaces, cab industry and delivery industry. One of the best known examples are Tesla, Uber, Yelp, Square

In this presentation apart from the case studies of companies that implemented niche strategy I will show you what you should do to be successful in this strategy.

In what way will you benefit from this presentation?
The presentation is a practical, step by step guide loaded with tones of, tricks, hints, examples that will show you where you can go with your business. There is little theory – mainly examples, a lot of tips from my own experience as well as other notable examples worth mentioning. My intention is that thanks to the presentation you will know:
1. How niche strategy work?
2. How you should build it in your industry?
3. Where you have to look for improvements to be competitive?
4. How to estimate your competitive advantage using data from your industry?

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Niche strategy in practice - case studies

  1. 1. 1 How to start from a niche? Cases and business hacks
  2. 2. 2 Successful companies after achieving the product-market fit manage to start growing almost exponentially ▪ Well executed business hacks, tricks and tactics
  3. 3. 3 Starting from a niche 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. 4 Thanks to this presentation you will learn how to start in a niche and what others have done to be successful in a niche
  5. 5. 5 Click to check my 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
  6. 6. 6 Introduction
  7. 7. 7 In most cases makes sense to start small from a comfortable niche rather than attack the incumbent players.
  8. 8. 8 Once you establish your presence you can attack further segments slowly, but….
  9. 9. 9 Slowly, but surely you expand from the niche…..
  10. 10. 10 …and you devour new segments. Till you get to the mainstream
  11. 11. 11 There are plenty reasons 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. 12 In most cases makes 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. 13 Cases of companies that successfully implemented niche strategy
  14. 14. 14 Tesla
  15. 15. 15 Tesla has started from 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)
  16. 16. 16 Uber
  17. 17. 17 Uber has started as 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
  18. 18. 18 Yelp
  19. 19. 19 Yelp has started as 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
  20. 20. 20 Twitch
  21. 21. 21 Twitch (on-line streaming of 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
  22. 22. 22 Square
  23. 23. 23 Square wanted to take 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.
  24. 24. 24 Postmates
  25. 25. 25 Postmates has intentionally neglected 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. 26 For more business hacks 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. 27 Check also business modeling in Excel Business models Practical guide for startups and entrepreneurs presentation
  28. 28. 28 I recommend also looking 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. 29 ….and how to perform market research Market research Practical guide for startups and entrepreneurs presentation
  30. 30. 30 Subscribe to our channels: www
  31. 31. 31 Check my extensive presentation 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. 32 If you need more detailed version on productivity hacks you can check our course on productivity hacks Click to check my course Management Consulting Productivity hacks
  33. 33. 33 Check my presentation on restaurant business model to understand it properly How to open a successful restaurant A practical guide presentation
  34. 34. 34 Check my presentation on on-line models to understand them properly On-line Business Modesl A practical guide presentation
  35. 35. 35 For more check also my on-line course Click to check my course
  36. 36. 36 Check my presentation on starting and running consulting company Start and run consulting company A practical guide presentation
  37. 37. 37 You can also find useful some tips on Excel Essential Excel for Business Analysts and Consultants A practical guide presentation
  38. 38. 38 There is an interesting summary of ways to test cheaply businesses MVP – how to test your business idea without building the product A practical guide presentation