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Mistakes that kill StartUps #3: Marginal Niche

By April 4, 2017February 18th, 2020Startup
marginal niche

The crux of every startup is to build on an idea that will be catering to an untapped market. But there’s a thin line between and untapped market and an insignificant untapped market. It is important to identify the difference between these two and choose a profitable option.

In the race to offer a service that isn’t already available, most startups access a virgin segment. The hope attached to this ideology is that the number of competitors they will face will be little to none.

There is a certain risk involved with grand ideas. These are avoided to provide a safety net for the founders. But it’s important to know, by avoiding this competition; you’re running away from great ideas. Competition is a given, and if you’re building something good, you WILL have to deal with that. So you might as well deal with it head on.

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