It’s easier to ride a wave than to set one in motion.
Meaning… your company may be better off creating offers that complement the market’s big player’s than trying to create trends and slice the market in a different way.
Building in the shadows of large companies can be very interesting but, it requires a different approach to identifying market opportunities.
If your business is able to identify gaps in large companies’ portfolios, understand where they’re heading (what they will and will not build) and create the toys or features they’ll want to play with in the future, you can be very successful.
It can be risky business – maybe you’re wrong – but, if you can:
- Demonstrate interest (or traction) for something they’re lacking
- Create something of value that’s hard to imitate
- Optional – Create a bidding war with their competitors
…you just might get bought out.