Ray DeckAcclaimed advisor to hundreds of founders and builders. Investor, teacher, founder, advisor

Riches in the Niches #strategy #marketing #nocode #lowcode #entrepreneurship

Name: Riches in the Niches #strategy #marketing #nocode #lowcode #entrepreneurship
Uploaded: 2024-07-06T13:00:53+00:00
Duration: 53 s
Channel: Ray Deck
Description: In this brief monologue, the speaker argues that the greatest financial opportunities lie in niche specialisation. For service providers, focusing on a…

6 Jul 2024 · 1 min

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In this brief monologue, the speaker argues that the greatest financial opportunities lie in niche specialisation. For service providers, focusing on a specific vertical enables deep client understanding and the ability to deliver far greater value, which translates into higher earnings. The same principle applies to no‑code and low‑code vendors: attempting to become a generic, central SaaS platform subjects them to intense downward price pressure. Instead, the speaker recommends a "crack‑filling" strategy—building highly specific, high‑impact components that address particular pain points (e.g., premium charting libraries). These niche tools can command premium prices because they make projects extraordinary. The core advice is to identify the "cracks" where specialised value can be added, as the riches truly reside in the niches.

Chapters

The riches are in the niches. This is very true for service providers who tend to make more money when you are specializing in a vertical where you're able to have a unique understanding of the needs of your client. And because you are deeply aware of their context, and then you're able to create a whole lot more value. But it's also true in the case of these no-code and low-code tools. I have found in general that a lot of no-code vendors want to get into the game of making something that's going to be at the center of what you're doing, like providing, as they call it, a SaaS. But those actually face a lot of price pressure downwards. Instead, I find there's much more value in what I call crack filling. Those things are about providing value that is very specific and make the given project much more extraordinary. This is why charting libraries can charge so much money for what they do. Look for where the cracks are. Look for those bits that create more value because the riches are in the niches.