As a startup or early stage small business it is better to rock your niche, before going big.
This relates to a number of proven principles and concepts, such as :
- The importance of crafting your Value Proposition and deeply understanding and convincing customers needs as presented by early adopters and visionaries. Even if the early majority represents a vastly larger total available market, the first 2 groups are not to be skipped.
- The theory of good and bad capital. While you are figuring out product/market fit and business model for your business, keep your wallet closed. Good capital should be patient for growth and eager for proof of profitability in this stage.
- Use the characteristics of a niche strategy to your advantage: 1. deeply invested community 2. focused product development 3. killer messages 4. affordable early growth 5. less competition.
Now rock 🎸 your niche. (but keep dreaming BIG).
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