Been a while. Work has kept me really busy:
One of the similarities between Offpeak and Hermo is that they are both competing in industries with multiple players – the RED ocean.
Given the niche, Eko is considered to be in a space that has less competition and disruption – the BLUE ocean.
For entrepreneurs-wannabe, it is important to diagnose the type of “ocean” they are going to be swimming in. The recent hype around entrepreneurship has rushed a lot of new founders into the market without them doing sufficient homework. Simple analysis such as competitive landscape (direct/indirect), important stakeholders and especially customer needs are essential before going all out.
What most great companies that got invested have in common is that they are all targeted at specific needs of users, whether or not these needs or demand are organic (existing gap in consumer needs) or “exploitable” (not sure if this is the right term, but what I mean is that you can foresee a demand or a potential evolution of user behavior).
Customer acquisition strategy for different type of demand or markets are generally different. This is what I think:
Note: I don’t have all the answers and this is just something I drawn out at 12:03AM!
That’s all for today. Til next time.
P/S: All the above are merely my personal rant and shall not be taken into account reaaaaalllyyy serious decision making.