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Kevin Xu: How to Create a Startup Within a Niche


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Kevin Xu describes three helpful tips for creating a startup company within a particular niche that interests you.

Published in: Business
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Kevin Xu: How to Create a Startup Within a Niche

  1. 1. H O W T O C R E AT E A S TA RT U P W I T H I N A N I C H E B Y K E V I N X U
  2. 2. • When thinking about a startup’s longevity, it must make your user’s life easier and for that to be achieved it’s essential that you create a business within a niche.
  3. 3. • Solving distinct problems is what makes your business a necessity and not only sets it apart from your competitors but steers you from a diluted market. • Here are a few areas of focus when creating a startup within a niche…
  4. 4. C R E AT E A S U S TA I N A B L E B U S I N E S S M O D E L • Defining your business model is one of the first steps towards building a stable company foundation. # 1
  5. 5. • Creating a model that will incite the best customer satisfaction is the goal and requires founders to initially decide if they’re running a B2B or B2C business which will determine your strategy’s focus.
  6. 6. K N O W T H E M A R K E T • Before diving into the public spotlight, you want to do a fair amount of research of the overall market that you’re getting into. # 2
  7. 7. • Knowing the landscape is a huge part of the preparation process and it will serve your business well in the long run. • Determine the market size, identify your lead competitors and where your strategy should aline.
  8. 8. • Being aware of the playing field opens up your possibilities for creativity. • Knowing which methods worked best among similar audiences and open areas for innovation all fall into perspective after learning the market.
  9. 9. M A K E A U N I Q U E M A R K E T I N G S T R AT E G Y • Just as your business fits into a unique position for your client base, so should your marketing strategy. • Creating a niche marketing strategy proves to be more successful the better you know your clients. # 3
  10. 10. • Depending on the type of financial backing you have, your niche marketing strategy could involve a lot of growth hacking. • Finding ways to market your product or service efficiently but cost effectively as well.
  11. 11. • If the finances are in place, determining where to spend it could seperate your marketing strategy between niche and standard.