Startup Cabin Blog

Risk Strategy: How to take over local markets

Posted by Xue Mei Rhodin on 26 April 2016

 


Companies don't just blow up and take huge markets over night. They take gradually larger and larger territories until they gain the momentum and capital to take over the biggest markets.

Gaining smaller territories helps you take bigger territories. That's how you win when playing RISK. The same principle works when growing your company's market reach.

By focusing down on cities, neighborhoods, and streets, you can quantify your goals and success. When one territory falls to you, the others aren't far behind.

This target local market approach also helps you lead your team better. When you are wanting to reach every cafe on one street, your team has very tangible goal.

Once you've won the smaller markets, your reputation and influence will precede you. The next territory can see the value you've provided to earlier territories.

UBER took over New York one area at a time, then moved on to the next city. Each victory propels you onto the next, and so on.

Next Video: How long until I'm profitable?

Topics: Sales Strategy, Marketing Strategy

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