Short excerpt from a YouTube video (Jason M. Lemkin, uploaded July 9, 2024) in which two speakers discuss strategy for entering and dominating smaller markets. The speakers debate when to stick with a smaller market versus move on; one speaker states their rule was to only enter markets where they could be number one and to avoid markets where that wasn’t achievable.
How do you know when to stick with these smaller markets and dominate it versus move across this chart.
Timing thing? And we always had a goal that whatever market we were going into, we wanted to be number one at. And we wouldn't go into the market if we didn't.
That's the question.
We could be number one. And if you look at what we're doing right now with the experience management platform, customer experience, we believe we're going to be number one. We believe we are. Brand experience. Measuring people's brands, employee experience. There's been $10 billion in acquisitions in that space, and we're kicking butt. We've already created a unicorn, both customer and employee, and then product.
