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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.
Sarah Wong added
“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
Sarah Wong added
sari and added
enter an existing market or create a new market. If we choose to enter an existing market, we can either compete to win the entire market or position our product to win a slice of it.
April Dunford • Obviously Awesome: How to Nail Product Positioning so Customers Get It, Buy It, Love It
Entrepreneurial Strategy There are four things an entrepreneur needs: a good idea, a good team, a good product, and a good business model. Interviewing customers, assessing the market, building a MVP, and iterating are all tactics. In the long run, how do we dominate a significant market? In the short term, entrepreneurs tend to focus on a large ma... See more
Jerry Neumann • Disruption Is Not a Strategy
Approach 1: Determine which lane is a natural fit for your business model
Dan Hockenmaier • Drive Growth by Picking the Right Lane — A Customer Acquisition Playbook for Consumer Startups
Mila Superstar added
Positioning: How your product is the best in the world delivering some value that well-defined companies care a lot about. How are you different? what value you can deliver that no one in the market can. And what market you are in?
Lenny Rachitsky • April Dunford on product positioning, segmentation, and optimizing your sales process
Gaia Soykok added
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