Mark Osborne explains why early-stage companies should pick a narrow niche instead of chasing every customer. Focus on a few industries, tailor your sales and marketing to each one, and own that segment rather than compete everywhere.
Well, and these are such insightful strategies, but it comes back to the sort of overall strategy of focus, which is when you can set a limit of we're only going to have 100, and then you can say, and we're going to focus on these 3 industries, and then you can get really specific and understand those industries and have a customized and tailored approach for each. You didn't try to apply the same, you know, sales approach or the same marketing approach or even the same positioning. Across each one. And so often, you know, companies, especially early stage, they're like, I don't want to limit myself to, you know, only servicing, you know, this type of customer and this type of market. But so often the real strategies for success come by implementing those limitations. That's where you get creative. That's where you really carve a niche out. So just selecting an issue, you make a niche that you can really, you know, sort of own.
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