Business Tips: If You’re Not First, You’re Last

by Feld Thoughts

In a post for Feld Thoughts, Brad Feld explains why you should considering re-segmenting if you’re company isn’t in the top three in its field.

Feld cites a few leaders in the Foundry Group portfolio, including Zynga, Cheezburger, Fitbit, Gnip, Makerbot, and Topspin, pointing out that  these companies weren’t unambiguously market leaders when they got started.

“While some of them created entirely new markets, others entered into existing markets,” he writes. “In some cases, there were only a few players as the markets were new. In other cases, they took the existing market and resegmented it.”

(See Product Innovation Missteps to Avoid)

Feld says if you’re not at the top of your market you should resegment to make sure you’re at the top.

“Step back and redefine the market segment you are going after,” he writes. “Change the customer, change a product focus, change the distribution channel, or change the partner dynamic.”

(See Assessing New Product Opportunities)

Feld advises waiting for the the next release, or a new sales VP, or something exogenous that would happen to the existing market leaders.

“This is almost always a losing strategy,” he writes. “Don’t count on luck.”

For Feld’s full thoughts on resegmenting, read his full post here.