Online marketplaces have grown so much over the past years, especially seeing the rise of Amazon, it has grown to dominate e-commerce, which inspired many startups to launch their own. However, the innovation occurs at a virtually unprecedented speed in the internet era makes the future of startups even more daunting. One moment, the startups could be thriving, and the next, without any warning at all, it could be obsolete.
In such a competitive landscape, what can the startup founders today learn from the online marketplace veteran? To beat their competitors and make themselves bigger.
“Anticipate the future, but do your research”
Back in early 90s, many people knew the internet would be the next big thing, including Amazon founder Jeff Benzon. He first made a list of the ‘top 20’ products that he could potentially sell on the internet, at the end he decided on books because of their low cost and universal demand.
“Never stand still”
Amazon was already big back then, but Benzo wasn’t satisfied. He first broadened Amazon’s product categories, expanded worldwide, and also began acquiring companies that would complement the core business, such as Zappos, shopbop and etc. When building a startup, stagnation is your worst enemy and innovation and improvement is the key to long term success.
“Focus on the users”
To analyze what the customers want, and to create a better user interface, better products and better service.
“Be persistent”
It takes time before your startups can be profitable. Take the time and effort to test out what works and what doesn’t. Be persistent, and don’t give up on your vision.
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- Izza Lin
Recruiting Master, AppWorks
top startup marketplaces 在 Dominant Rise of Marketplace Model in Indian Startups 的推薦與評價
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