Target an industry that is ripe for disruption
Share to twitterChobani took the $7 billion yogurt aisle and disrupted it with a new product, greek yogurt.Would be entrepreneurs can take years trying to think of ideas or even problems that they could solve to potentially launch a startup. Most new startups though are based on iterations of an existing product or service slightly improved or innovated. Google was not the first search engine. Nike was not the first athletic shoe. Facebook was not the first social media company.
A recent example of this is exactly what the brand Chewy has done to the pet industry and specifically, PetSmart and Petco. Those two firms are anchor bound to their hundreds of retail stores and all that overhead while Chewy is offering the same pet products online for less. Chewy did this so well that PetSmart acquired Chewy in 2017 for $3.3 billion as a defensive position. What will Petco do now?.
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