If you don’t know how to grow your company, and it is already difficult to achieve the success of the business using operating methods, it’s the time to reconsider the idea and strategy of your company. One of the most important choices will be: which market to play on? Because betting on the wrong market will result into you know what…
For this I want “to slide the roof” a bit in understanding what a market is, and which markets sound like the most promising and profitable for the next 10 years.
In the modern sense, a market is not a supply and demand, not the volume of goods or services, not a “meeting place of some clowns with others” (a signature definition from my favorite Odessa residents :). A market is the need of a Client / Consumer, their dream or pain. Realization of a dream or an effective solution to the Client’s /Consumer’s problem is converted into money. A great Client’s success is our great success. It’s simple! So what kind of markets are the most promising?
At one of the largest world platforms of innovation, Web Summit, the following NINE markets were named as the largest, the most growing and profitable markets of the future in the nearest 10 years:
- Old age;
- Shortage of energy and water;
- Insanity of governments;
- Love & Friendship & Connect;
- Stimulation of dreams of a better life;
EXAMPLES! Facebook is not just a network or a platform. They are the creators of the alternative governments of the World (this is their current vision and mission). Accordingly, the company plays at the intersection of two markets: “Insanity of governments” and “Freedom”. Proof? Who led us to Maidan, eh?
Zara, IKEA, Wizzair, Shafa, Olx , Сargill are in “poverty.” So is Uber. Uber is not a platform for taxi drivers, it is a company, which serves for those temporarily unemployed or willing to earn extra money as the “systematic supply of work (passengers) and earnings”. Look beneath the surface.
Hollywood and STB are in stimulation of dreams of a better life :). Yes, and all those who sell “show-off things”. Dreams are different, as you know.
Tesla, of course, is in the shortage of energy and water.
The whole industry of wellness is in old age.
The choice of the right market as the focus of the company to move is one of the levers in building a competitive position at a different level, outside the “red ocean” of merchants of goods and services. Use this opportunity for your companies in the right time.