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Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
A wedge seems most essential when you’re going after a market that is (1) entrenched or (2) crowded. When it’s hard to break in head-on.
“Wedge selection should be very intentional. Don’t just build for the first customer persona you think of or the closest city to where you live. Build for the group that has the most acute pain point, or the highest willingness to pay, or the fastest sales cycles. The more carefully you pick your wedge, the easier it will be to succeed and to expan... See more
We start with Competitive Alternatives, or what would customers do if our solution didn’t exist. Once we have that, we can ask ourselves, “What do we have that the alternatives do not?” That gives us a list of Differentiated features or Key Unique Attributes. We can then go down that list and ask ourselves, “So what for customers?” Put another way,... See more
April Dunford • A quickstart guide to positioning
“If you want to get rich, target a niche. If you want to go broke, market to all the folks. Identifying a problem in that niche market is priority #1. Creating a desired solution for that problem is priority #2. Delivering that solution for a profit to your niche market is priority #3.”