25 Retail Innovators
Despite the huge impact of Amazon, there are other retailers that are changing the retail buying process.
From Business Insider: http://www.businessinsider.com/25-companies-that-are-revolutionizing-retail-2017-7
While Amazon may try to capture every market….companies that are creative will hold up to the competition. Retailers (or any business) that are distinct / different will also be better.
Minimum Viable Audience
“The solution is simple but counterintuitive: Stake out the smallest market you can imagine. The smallest market that can sustain you, the smallest market you can adequately serve. This goes against everything you learned in capitalism school, but in fact, it’s the simplest way to matter.”
“When you have your eyes firmly focused on the minimum viable audience (MVA), you will double down on all the changes you seek to make. Your quality, your story and your impact will all get better.”
MVA is certainly not a concept I heard of either during the MBA years or even thereafter. Yet it makes sense. Rather than being a small fish in a large pond….become the larger fish in a smaller pond.
In our business….there were many fishes and the market was very competitive….in some ways that was OK as it made one a better competitor.
In the MVA model…the .key is defining the smallest market that can sustain you. if that market exists….than that is foundation for business growth.