Mon, 26 September 2022
Disrupt or Create
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In ideating a new startup you can either disrupt an existing market or create a new one.
In disrupting an existing market consider the following:
Move the transaction and delivery of the product online.
Online capabilities generate network effects.
One can create data sets and include fintech payments as part of the experience.
One can also create cost and time efficiencies by eliminating the middleman.
Disrupting an existing market requires a new mindset for serving the customer.
In starting a new market, consider the following:
Emerging technologies provide the opportunity to create a new market.
Technologists and early adopters comprise the initial market.
Since they are familiar with the technology they adopt it first.
As the technology matures it will reach a wider audience which creates a new market.
Fast-growing technology segments provide an opportunity as well.
As crypto takes off, it generates many new markets to serve.
Applying a new business model can create a new market as well.
In ideating for your startup ask which approach is appropriate.
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Category:general -- posted at: 5:00am CDT