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Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
A wedge is simply a strategy to win a large market by initially capturing (1) a tiny part of a larger market or (2) a large part of a small adjacent market.
Lenny Rachitsky • Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
“The wedge metaphor to me is most useful in making sure you’re not a blunt instrument trying to chop into a market by being everything for everyone, but instead the sharp blade with extraordinary focus on a specific persona/use case to start.”
Lenny Rachitsky • Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
To pick a wedge, find a large market and then:1. Pick a very narrow (and very painful) problem2. Pick a very specific segment of people to solve that problem for
Lenny Rachitsky • Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
To pick a wedge, find a large market and then:
- Pick a very narrow (and very painful) problem
- Pick a very specific segment of people to solve that problem for
Lenny Rachitsky • Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
The more entrenched and competitive the market, the more valuable a wedge will be.
Lenny Rachitsky • 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.
Lenny Rachitsky • Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
A wedge is simply a strategy to win a large market by initially capturing (1) a tiny part of a larger market or (2) a large part of a small adjacent market.
Lenny Rachitsky • Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
a good wedge:
1. Is narrow and focused—solves a very specic problem, for a specic group, extremely well2. Builds momentum—can be sold quickly and keeps customers coming back3. Naturally extends into a much bigger opportunity—more product, more revenue,more users4. Avoids competition—the whole point is to give you an easier path5. Is hard to replicat... See more
1. Is narrow and focused—solves a very specic problem, for a specic group, extremely well2. Builds momentum—can be sold quickly and keeps customers coming back3. Naturally extends into a much bigger opportunity—more product, more revenue,more users4. Avoids competition—the whole point is to give you an easier path5. Is hard to replicat... See more
Lenny Rachitsky • Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
A wedge gives a startup a number of advantages over its competition—primarily driven by having a narrower, more precise focus: 1) With a more focused value prop, your pitch and sales process become quicker and easier, which drives more revenue that you can reinvest in growth and the product 2) With more customers, you can more quickly build social ... See more