Showing posts with label Netflix. Show all posts
Showing posts with label Netflix. Show all posts

Tuesday, June 22, 2021

Why Competition Is Good For Entrepreneurs and How Blockbuster’s $50 Million Mistake Helped Reed Hastings and Netflix Destroy a $6 Billion Empire

Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 8



This video is part of my series - Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders, learn more by visiting https://bit.ly/3hExYJX


When battling for resources or investment, early-stage entrepreneurs may believe that competition is a bad thing. On the surface, they are correct. There are a limited number of angel investors willing to provide a finite amount of venture capital to founders.  

However, is competition a good thing for business startups?

Competition is not always a bad thing for entrepreneurs. If you have a brand new startup with an innovation that nobody's heard about, you may not have any competition. However, this may cause a challenge getting customers or angel investors. Why? Because your audience will likely be confused by your solution business. 

When you sell something that is truly new, your first step will be to educate your audience. People cannot buy something before it exists. It is tough to attract startup funding when investors do not understand your solution. It is even harder if there is no proof that there is a market for what you are doing. This is often the case for innovative startups, because it is hard to prove if your target market will pay for something they never had. 

This leads us to another benefit of competition. If you need to compete with other businesses in order to win customers, at least you have proof that a market does exist for your startup.

Doing a competitive analysis is critical for your business to succeed. It will give you an opportunity to see the lay of the land. However, it will also help you to avoid a common startup trap that costs millions of entrepreneurs countless hours and dollars. Creating something that already exists.

At least 20% of the pitch decks I see are promoting a business or technology that has already been created. Competing with powerful incumbents is already tough enough. But creating a clone of something that already exists without powerful differentiators is a suicide mission. Why spend time, money, and energy building a YouTube-type business technology when YouTube already exists?

However, you can attack a powerful incumbent with technological innovation. Early in 2000 Blockbuster was a $6 billion giant that dominated the home entertainment business with almost nine thousand rental stores around the world. That year, Netflix founders Reed Hastings and Marc Randolph offered to sell the company to their major Blockbuster for $50 million. Blockbuster turned them down. 

In 2002, two years after that meeting, we took Netflix public. Blockbuster was still a hundred times larger $5 billion versus $50 million. 

How did Netflix compete?

“It was not obvious at the time, even to me, but we had one thing that Blockbuster did not: a culture that valued people over process, emphasized innovation over efficiency, and had very few controls. Our culture, which focused on achieving top performance with talent density and leading employees with context, not control, has allowed us to continually grow and change as the world, and our members’ needs, have likewise morphed around us.

Netflix is different. We have a culture where No Rules Rules.”

Reed Hastings and Erin Meyer, Netflix Founders



Are you looking for funding for an idea or business, send us your stuff and we will take a look, Funding@OmegaSeedFund.com

Are you interested in investing time or money into any of our businesses, info@omegaseedfund.com

Are you interested in promoting your product or service to our audience, contact Opportunities@OmegaSeedFund.com


Disclaimer: This is only for informational and discussion purposes. This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service. We are not offering any legal, investment, tax, or medical advice.



Do you want more? 
 
Previous Post - Market Testing for Better Decisions and Results, How Lego’s New Business Strategy Doubled Sales Overnight - Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 7


Are you looking for investors? Use this link to send us your information. https://register.omegadestiny.com/register-business-for-funding.  

Use this link if you have a product or service that will help our early-stage businesses. https://register.omegadestiny.com/register-to-market-to-our-companies


Sources
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Tuesday, May 19, 2020

How much money does a startup need? The Fifth Powerful Secret to Battling Giant Competitors - Resources - How Startups can Competing Against FAANG - Facebook, Amazon, Apple, Netflix, Alphabet Google - David vs. Goliath


blackjack

This is part five of a series we are doing on David vs. Goliath and battling giants. I will talk about how startups can compete against the FAANG companies and other major, well-funded, legacy competitors. The FAANG are Facebook FB, Amazon AMZN, Apple AAP, Netflix NFLX; and Alphabet/Google GOOG.

Click here for part 1
Click here for part 2
Click here for part 3
Click here for part 4


The Fifth Powerful Secret to Battling Giant Competitors - Resources


Then he (David) took his staff in his hand, chose five smooth stones from the stream, put them in the pouch of his shepherd’s bag and, with his sling in his hand, approached the Philistine.

Samuel 17

Although David did not have many resources, he had what he needed to win the battle.

When battling giant competitors, you will need resources. Resources are purchased with money, e.g. capital. Since you will have significantly less resources than your competitors, you will need to use those resources wisely.   


How much money does a startup need? 

Based on our research and personal experience, we find that most early-stage, pre-revenue companies raise between $25,000-$500,000. It is tough to ask for more without giving away your company.

When looking for funding, is important to create forecasts, showing your potential funding sources how you will use the cash. And even more importantly, when you will be profitable so you can pay it back.

Obviously you want to raise as much cash as possible. However, if your company is early stage and has a valuation under $1M, you cannot ask for a $5M investment. The investor would be buying your company five times over. If your valuation is around $1M, you can ask for $200K–$300K, and offer 20–30% of your company in exchange.

Valuing a company can be tough. One of my favorite methods is the development stage valuation approach. It is often used by angel investors and venture capital firms to generate a rough range of company value. Investors set these values based on their experience and values vary depending on the company’s stage of development. The further the company has progressed along the development pathway, the lower the company's risk and the higher its value. Here’s an example of a valuation-by-stage model:

Estimated Company Value,   Stage of Development
$250,000 - $500,000,  The business idea or business plan exists
$500,000 - $1 million,  The management team is in place to execute the plan
$1 million – $2 million,  A final product or technology prototype has been developed
$2 million – $5 million,  Strategic alliances, partners or customers are in place
$5 million and up,  Revenue growth and a pathway to profitability is imminent


Click here to learn more about business valuations


One of my favorite stories about resources


In 1971, Frederick Smith founded the company with $4 million of inheritance and $80 million in loans and equity investments. FedEx started out with eight planes, covering 35 cities, and it had plans to add more each month.

But in the first two years, primarily due to rising fuel costs, the company found itself millions of dollars in debt and on the brink of bankruptcy.

When FedEx's funds dwindled to just $5,000, Smith realized he didn't have enough to fuel the planes. The company had already gone to many extremes, from pilots using their personal credit cards to fuel planes to uncashed paychecks.

So what's a desperate founder to do? Smith impulsively flew to Las Vegas and played blackjack with the last of the company money.

Amazingly, when he came back the next week, he had turned the remaining $5,000 into $27,000 — just enough for the company to stay in operation for another week.

The $27,000 wasn't the solution to all of their problems, but Smith viewed it as a hopeful sign that things would go up from there. He used the money as motivation to obtain more funding, and eventually raised another $11 million.

FedEx, the world's first overnight delivery company, delivers more than 1.2 billion packages every year in over 220 countries.



Are you looking for investors for your business, contact us today, funding@omegaaccelerator.com.  



Are you interested in angel investing and helping us fund early-stage businesses? Email info@OmegaAccelerator.com



Sources and Links

https://www.businessinsider.com/fedex-saved-from-bankruptcy-with-blackjack-winnings-2014-7
https://techcrunch.com/2017/08/23/does-it-really-matter-how-much-your-startup-raises/
http://blog.gust.com/8-tips-on-how-much-money-to-ask-for-from-investors/
https://www.biblegateway.com/passage/?search=1+Samuel+17&version=NIV
https://rencarlton.blogspot.com/2020/02/superbowl-2020-angel-investors-valuing.html
https://www.linkedin.com/in/rencarlton
https://rencarlton.blogspot.com
https://twitter.com/RenCarlton
https://www.youtube.com/channel/UCmxQWgUDlPJo0IHCIa6SzrQ
https://omegalegacyacceleratorx.com/924-2/https://www.facebook.com/TheOmegaAccelerator/
https://www.instagram.com/omega.funding/
https://rencarlton.blogspot.com/2019/09/funding-session-with-ren-carlton.html


Disclaimer: This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service. We are not offering any legal, investment, tax, or medical advice. Please consult the appropriate professional before doing anything you learn from the content posted on any of our digital properties. All stories are based on true events, but are altered to protect the identity of the individuals involved.

Tuesday, May 12, 2020

The Fourth Powerful Secret to Battling Giant Competitors - Speed - How Startups can Competing Against FAANG - Facebook, Amazon, Apple, Netflix, Alphabet Google - David vs. Goliath


This is part four of a series we are doing on David vs. Goliath and battling giants. I will talk about how startups can compete against the FAANG companies and other major, well-funded, legacy competitors. The FAANG are Facebook FB, Amazon AMZN, Apple AAP, Netflix NFLX; and Alphabet/Google GOOG.

Click here for part 1
Click here for part 2
Click here for part 3

"A good plan violently executed now is better than a perfect plan executed next week."

George S. Patton

The Fourth Powerful Secret to Battling Giant Competitors - Speed


"He (Goliath) had a bronze helmet on his head and wore a coat of scale armor of bronze weighing five thousand shekels (about 125 pounds or about 58 kilograms); on his legs he wore bronze greaves, and a bronze javelin was slung on his back. His spear shaft was like a weaver’s rod, and its iron point weighed six hundred shekels (about 15 pounds or about 6.9 kilograms.)

Saul dressed David in his own tunic. He put a coat of armor on him and a bronze helmet on his head. David fastened on his sword over the tunic and tried walking around, because he was not used to them. “I cannot go in these,” he said to Saul, “because I am not used to them.” So he took them off. Then he took his staff in his hand, chose five smooth stones from the stream, put them in the pouch of his shepherd’s bag and, with his sling in his hand, approached the Philistine.

Samuel 17

David was small, fast, and not weighed down by heavy armor or weapons. Goliath was large, slow and carrying a lot of weight.


This is my favorite way to compete with large companies. Speed is a huge advantage when battling giant, large competitors. Startups can launch a business concept the day the founders hear about it. No approvals, meetings, bureaucracy, or oversight. You can just do it!

How to Grow Your Business Fast

-Outsource and hire - Make a list of the roles you need and focus on filling them as quickly as possible.
-Focus on driving cash - Build systems and process that keep cash flowing in. No cash = no business. Investment dollars, loans, or revenue can meet this requirement.
-Be ready to pivot - Don't fall in love with any ideas until you found a winning formula. Giants have the resources and time to over-commit to bad ideas. You must change early and often until you find the winning formula. YouTube was a video dating site. Twitter was a podcasting network. Flickr was an online role-playing game.
-Establish meaningful milestones - Meaningful means milestones that will either attract investors or create revenue. It's tough to grow when you do not have a target. Picture bowling blindfolded. Tough to hit the target (bowling pins) when you do not know where to aim.
-Manage risks - Create situations where you have unlimited upside and minimal downside. That way if a situation is under-performing you do not need to worry about abandoning it for better opportunities.
-Focus on win-win situations - When you create win-win situations, everyone has incentives to keep making progress

One of My Favorite Stories About Speed

Kevin Systrom and Mike Krieger founded Instagram in a San Francisco co-working space in 2010. With only 13 employees, Instagram grew to 30 million users by 2012. Instagram was acquired by Facebook in 2012 for approximately $1 billion in cash and stock. Now that is fast!


Are you looking for investors for your business, contact us today, funding@omegaaccelerator.com.  


Are you interested in angel investing and helping us fund early-stage businesses? Email info@OmegaAccelerator.com


Sources and Links
https://www.washingtonpost.com/news/innovations/wp/2015/07/02/the-7-greatest-pivots-in-tech-history/
https://www.biblegateway.com/passage/?search=1+Samuel+17&version=NIV
https://en.wikipedia.org/wiki/Timeline_of_Instagram
https://www.inc.com/business-insider/companies-startups-unicorn-1-billion-valuation-record-time.html
https://www.forbes.com/sites/forbescommunicationscouncil/2018/07/19/how-to-build-your-dream-team-and-grow-your-company-fast/#664e1cf54845
https://www.businessnewsdaily.com/7690-rapid-business-growth-tips.html
https://rencarlton.blogspot.com
https://twitter.com/RenCarlton
https://www.youtube.com/channel/UCmxQWgUDlPJo0IHCIa6SzrQ
https://omegalegacyacceleratorx.com/924-2/https://www.facebook.com/TheOmegaAccelerator/
https://www.instagram.com/omega.funding/
https://rencarlton.blogspot.com/2019/09/funding-session-with-ren-carlton.html


Disclaimer: This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service. We are not offering any legal, investment, tax, or medical advice. Please consult the appropriate professional before doing anything you learn from the content posted on any of our digital properties. All stories are based on true events, but are altered to protect the identity of the individuals involved.

Tuesday, May 5, 2020

The Third Powerful Secret to Battling Giant Competitors - Vision - How Startups can Competing Against FAANG - Facebook, Amazon, Apple, Netflix, Alphabet Google - David vs. Goliath

This is part three of a series we are doing on David vs. Goliath and battling giants. I will talk about how startups can compete against the FAANG companies and other major, well-funded, legacy competitors. The FAANG are Facebook FB, Amazon AMZN, Apple AAP, Netflix NFLX; and Alphabet/Google GOOG.

Click here for part 1
Click here for part 2

The Third Powerful Secret to Battling Giant Competitors - Vision

The Philistines declare war on the Israelites and wrench the Arch of the Alliance from them. David was not born into royalty. He entered life as a humble shepherd, rose to found a dynasty, and became a central figure in Judaism, Christianity, and Islam.

Samuel the prophet had informed David that God had chosen him to be the next king of Israel and anointed him with his brothers around him (1 Samuel 16:13). David knew this information when he arrived in the camp and heard Goliath’s sneering rants. And he drew additional confidence by remembering how God had helped him in the past (1 Samuel 17:34–36).

As Israel's second king, David built a small empire. He conquered Jerusalem, which he made Israel's political and religious centre. He defeated the Philistines (Goliath was a Philistine) so thoroughly that they never seriously threatened the Israelites' security again, and he annexed the coastal region.

David's vision was to be King of Israel. What is your vision?


Building Your Vision 

Your vision for your company should be exciting and motivating. One way to do this is to use your business that solves a problem or reaches a goal that is meaningful to you. If you can do this, the bare minimum outcome of success will be doing something that benefits you. If it benefits you, it is likely to benefit others as well.

Adopting this methodology avoids the challenge of developing a solution looking that is looking for a problem. This is one of the problems we see in some of the pitches we receive. Start with the problem and find a solution.

By having a concise vision of what you want your business to become, you will be in an improved position to work toward that goal. Do not make goals that are overly broad, such as "I want to make a lot of money." Instead, aim toward something like "I want to add three new customers a month" or "I want to see a rise in my search each week." As you establish measurable objectives, it is possible to view your progress. Also, it will make you more confident.

Examples of Famous Clear, Concise Visions

“Give me liberty or give me death.”
– Patrick Henry, United States Revolutionary War leader, 1776

“We shall never surrender.”
– Winston Churchill, England prime minister, 1941

“By the end of the decade, we will put a man on the moon.”
– John F. Kennedy, United States president, 1962

“A computer on every desk and in every home.”
– Bill Gates, Microsoft chairman and chief executive officer, 1980

One of My Favorite Story About Vision

Alexis Ohanian and Steve Huffman launched Reddit in 2005 as a social website that allows users to post thoughts or content and have others rank submissions by voting it up or down. Soon after, they flew to meet with Yahoo executives in Sunnyvale. Upon hearing that Reddit had about 10,000 users at the time, one executive sneered, “You guys are just a rounding error compared to Yahoo. What are you guys even doing here?”

“The first thing I did when I got back to my desk, I put this on my wall, ‘You are a rounding error,’ because I wanted to know every single morning who we were proving wrong,” Ohanian said.

As of 2018 Reddit has 330 Million Monthly Active Users.


Are you looking for investors for your business, contact us today, funding@omegaaccelerator.com.  


Are you interested in angel investing and helping us fund early-stage businesses? Email info@OmegaAccelerator.com


Sources and Links
https://www.britannica.com/biography/David
https://www.desiringgod.org/articles/where-real-courage-comes-from
https://www.nationalgeographic.com/culture/people-in-the-bible/story-king-david-goliath/#close
https://www.imdb.com/title/tt0054788/plotsummary
https://en.wikipedia.org/wiki/Goliath
https://www.reliableplant.com/Read/2432/power-of-a-clear,-concise-vision
https://www.inc.com/murray-newlands/6-tips-to-build-self-confidence-for-business-success.html
https://www.ocregister.com/2014/01/28/status-update-reddits-ohanian-motivated-by-rounding-error/
https://rencarlton.blogspot.com
https://twitter.com/RenCarlton
https://www.youtube.com/channel/UCmxQWgUDlPJo0IHCIa6SzrQ
https://omegalegacyacceleratorx.com/924-2/https://www.facebook.com/TheOmegaAccelerator/
https://www.instagram.com/omega.funding/
https://rencarlton.blogspot.com/2019/09/funding-session-with-ren-carlton.html


Disclaimer: This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service. We are not offering any legal, investment, tax, or medical advice. Please consult the appropriate professional before doing anything you learn from the content posted on any of our digital properties. All stories are based on true events, but are altered to protect the identity of the individuals involved.

Tuesday, April 28, 2020

David vs. Goliath - Part 2 - Battling Giants - How Startups can Competing Against FAANG - Facebook FB, Amazon AMZN, Apple AAP, Netflix NFLX; and Alphabet/Google GOOG


This is part two of a series we are doing on David vs. Goliath and battling giants. I will talk about how startups can compete against the FAANG companies and other major, well-funded, legacy competitors. The FAANG are Facebook FB, Amazon AMZN, Apple AAP, Netflix NFLX; and Alphabet/Google GOOG

Click here for part 1

Battling Giants - Lesson 2 - Confidence

"If you hear a voice within you say ‘you cannot paint,’ then by all means paint, and that voice will be silenced."

Vincent Van Gogh


In the story of David and Goliath, we are told David goes into battle with five stones. Why five? Maybe so he can have five shots at Goliath?

Bible scholars speculate that David chose five smooth stones because Goliath had four brothers, and David was readying himself to dispatch all five giants. This theory is based on 2 Samuel 21:15–22. That passage lists four very large Philistines who were related to Goliath in some way.

Now that is confidence.

Entrepreneurs must demonstrate confidence. Customers need to believe that you will deliver your products or services. Investors want to be assured that you will produce a healthy returns on their investments. Your team needs to know that you will still be there tomorrow. 


Tips for Building Entrepreneurial Confidence

  1. Fake It Until You Make It. Ask yourself "If I was a successful entrepreneur, what would I do?" Than do those things. It may sound a bit silly, but it works.
  2. Keep learning. Learning about your business and industry will do wonders. Always be aware of seminars and courses that can keep you up-to-date on your industry or make you more in-the-know in regard to business overall.
  3. Have a clear vision. One method to improve your confidence is to establish objectives. By having a concise vision of what you want your business to become, you will be in an improved position to work toward that goal. Do not make goals that are overly broad, such as "I want to make a lot of money." Instead, aim toward something like "I want to add three new customers a month" or "I want to see a rise in my search each week." As you establish measurable objectives, it is possible to view your progress. Also, it will make you more confident.
  4. Become optimistic. Negativity has the ability to reduce your motivation and drag you down. As we surround ourselves with good energy, we are automatically more productive. Have a power group of positive influences around you who'll support your goals. Not only are they able to provide you a little push when you are feeling sluggish, they're also able to reel you in when you get a bit off track.
  5. Take calculated risks. Helen Keller once said, "Life either is nothing at all or an adventure." Do things that temporarily remove from your comfort zone. Make sure these things are consistent with your vision. Don't forget to manage your downside risk. Taking caluculated risks means that the reward for taking the risk far outweighs the downside risk of failing. That is the difference between calculated risk-taking and reckless gambling.
  6. Ditch doubt. If you possess good ideas, but a phobia of moving ahead has you paralyzed, take it step by step. Many times we'll blame lack of knowledge, funds, and support when in fact we're blocking our road to success. Do not listen to negativity; have faith. You may be shocked at what you're able achieve.
  7. Recognize small things you have accomplished. As you make that initial sale, celebrate. As you diffuse a problem that might have exploded out of control, give yourself a pat on your back. Those little victories will serve as a reminder of how talented you are and that you have more business successes to go.

One of My Favorite Story About Confidence


On November 14, 2013, The Wall Street Journal reported that Facebook offered to acquire Snapchat for $3 billion from Evan Spiegel. Spiegel was a college dropout and living in his father's basement. Spiegel declined the cash offer. 

Was that a good decision?

In 2020, Snapchat is a publicly traded company on the New York Stock Exchange (NYSE) and Evan Spiegel's net worth is estimated to be $3.4 billion dollars.

Are you looking for investors for your business, contact us today, funding@omegaaccelerator.com.  


Are you interested in angel investing and helping us fund early-stage businesses? Email info@OmegaAccelerator.com


Sources and Links
https://www.goalcast.com/2018/07/16/confidence-quotes/
https://www.gotquestions.org/five-smooth-stones.html
https://www.inc.com/murray-newlands/6-tips-to-build-self-confidence-for-business-success.html
www.investopedia.com
https://www.biblegateway.com/passage/?search=1+Samuel+17&version=NIV
https://abcnews.go.com/Business/ceos-founders-lived-parents/story?id=26888490
https://rencarlton.blogspot.com
https://twitter.com/RenCarlton
https://www.youtube.com/channel/UCmxQWgUDlPJo0IHCIa6SzrQ
https://omegalegacyacceleratorx.com/924-2/https://www.facebook.com/TheOmegaAccelerator/
https://www.instagram.com/omega.funding/
https://rencarlton.blogspot.com/2019/09/funding-session-with-ren-carlton.html


Disclaimer: This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service. We are not offering any legal, investment, tax, or medical advice. Please consult the appropriate professional before doing anything you learn from the content posted on any of our digital properties. All stories are based on true events, but are altered to protect the identity of the individuals involved.




Wednesday, April 22, 2020

David vs. Goliath - Battling Giants - How Startups can Competing Against FAANG - Part 1 - Facebook FB, Amazon AMZN, Apple AAP, Netflix NFLX; and Alphabet/Google GOOG 

This is part one of a series we are doing on David vs. Goliath and battling giants. I will talk about how startups can compete against the FAANG companies and other major, well-funded, legacy competitors. The FAANG are Facebook FB, Amazon AMZN, Apple AAP, Netflix NFLX; and Alphabet/Google GOOG


The Original Story - David vs. Goliath 


Here are some excerpts from the Samuel 17, just in case you are unfamiliar with the bible story of David and Goliath.

A champion named Goliath, who was from Gath, came out of the Philistine camp. His height was six cubits and a span [about 9 feet 9 inches]. He had a bronze helmet on his head and wore a coat of scale armor of bronze weighing five thousand shekels [about 125 pounds or about 58 kilograms]; 6 on his legs he wore bronze greaves, and a bronze javelin was slung on his back. His spear shaft was like a weaver’s rod, and its iron point weighed six hundred shekels [about 15 pounds or about 6.9 kilograms].

He [David] took his staff in his hand, chose five smooth stones from the stream, put them in the pouch of his shepherd’s bag and, with his sling in his hand, approached the Philistine.

Meanwhile, the Philistine, with his shield bearer in front of him, kept coming closer to David. He looked David over and saw that he was little more than a boy, glowing with health and handsome, and he despised him.

As the Philistine moved closer to attack him, David ran quickly toward the battle line to meet him. Reaching into his bag and taking out a stone, he slung it and struck the Philistine on the forehead. The stone sank into his forehead, and he fell facedown on the ground.

So David triumphed over the Philistine with a sling and a stone; without a sword in his hand he struck down the Philistine and killed him.

David ran and stood over him. He took hold of the Philistine’s sword and drew it from the sheath. After he killed him, he cut off his head with the sword.



In Malcolm Gladwell's book David and Goliath, Gladwell points out that giants are not what we think they are. The same qualities that appear to give them strength are often the sources of great weakness. And the fact of being an underdog can change people in ways that we often fail to appreciate.



Battling Giants - Lesson 1 - Target a Specific Niche

David was properly equipped to battle Goliath. He wore no armor and used a deadly projectile weapon. He was fast and mobile. Goliath wore heavy armor and held a heavy weapon. He was slow and immobile. He was well equipped to go into a war leading a massive army. But he was not prepared to battle with a fast, single sharpshooter. Goliath didn't stand a chance.

Battling modern day giants with virtually unlimited resources requires you to focus on a specific niche. Otherwise, your marketing costs alone will likely bury before you get started.

Amazon launched in 1995 as a website that only sold books, founder Jeff Bezos had a vision for the company's explosive growth and eCommerce domination. He knew from the very beginning that he wanted Amazon to be "an everything store."

In 1997, Reed Hastings founded Netflix, a DVD-by-mail rental service at the time, in part after being frustrated with a $40 late fee from Blockbuster.

Mark Zuckerberg competed with MySpace by focusing on students at Harvard.

Notice a pattern? All of these FAANG companies started by attacking a very specific niche. Niches may include:
-Type of service or a subset of a service, e.g. Uber for eats
-Specific attribute of an existing business model, e.g. Free delivery 
-Geography, e.g. city or state
-Demographic, e.g. white females 25-35
-and more

Once you pick your specific niche, you can properly equip yourself for battle.


Are you looking for investors for your business, contact us today, funding@omegaaccelerator.com.  


Are you interested in angel investing and helping us fund early-stage businesses? Email info@OmegaAccelerator.com


Sources and Links
https://www.reliableplant.com/Read/2432/power-of-a-clear,-concise-vision
https://www.ocregister.com/2014/01/28/status-update-reddits-ohanian-motivated-by-rounding-error/
https://deanyeong.com/reading-note/david-and-goliath/
www.investopedia.com
https://www.goodreads.com/quotes/536961-the-reasonable-man-adapts-himself-to-the-world-the-unreasonable
https://www.biblegateway.com/passage/?search=1+Samuel+17&version=NIV
https://www.linkedin.com/in/rencarlton
https://rencarlton.blogspot.com
https://twitter.com/RenCarlton
https://www.youtube.com/channel/UCmxQWgUDlPJo0IHCIa6SzrQ
https://omegalegacyacceleratorx.com/924-2/https://www.facebook.com/TheOmegaAccelerator/
https://www.instagram.com/omega.funding/
https://rencarlton.blogspot.com/2019/09/funding-session-with-ren-carlton.html


Disclaimer: This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service. We are not offering any legal, investment, tax, or medical advice. Please consult the appropriate professional before doing anything you learn from the content posted on any of our digital properties. All stories are based on true events, but are altered to protect the identity of the individuals involved.