bootstrapme

Start simple and evolve

Filed in archive Philosophy on June 22, 2006

Start simple and evolve
This is a reflection on blogger Jeff Cornwall's post about growing beyond your niche at The Entrepreneurial Mind.

Referring to a story at StartupJournal about Home Depot Inc. and Sam's Club moving in on the mom and pop car wash industry, Jeff writes:

Success rates tend to be higher for niche businesses since they have less direct competition. Without much competition, niche businesses can charge higher prices, which allows for quicker positive cash flow during start-up and better margins once profitable.


He adds:

While significant growth in your market niche may not sound bad, it can attract more competitors...That requires that you adapt your business strategies to this more competitive market.


But from Woese's "cellular organizations" swimming in a primordial gene soup to a child slowly learning semantics through understanding of syntax, bootstrapping in biology, linguistics, electronics and, yes, business is all about adaptation.

No, bigger is not always better, but more complex (read diversified) usually is. Though finding a niche to fill may be important while starting out, those businesses that wait to grow beyond that niche until competition threatens have probably waited too long already.


Permalink: Start simple and evolve

Tags: niche  The  Entrepreneurial  Mind  start  start+simple  simple+evolve  personal+finance 

Vote for Start simple and evolve:

  • Currently 5.29/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 5.29 out of 7 vote(s) cast.
 
Share It
RSSrss
Google google
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
TwitterFollow us on Twitter!
Most Popular   Best of   Bootstrap Interviews   bootstrap music   Bootstrapper News   Bootstrapper Profile   Bootstrapper Resources   Bootstrapper Tips   Bootstrapper Tools   Bootstrapping Opportunities   Bootstrapping Thoughts   Bootstrapping Trends   Did you know   Entrepreneurship   equipment exchange   Events   How-to   information about   Just For Fun   Misc   Philosophy