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Storming the Weather
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Kent Vorland
 
Kent Vorland
 
Kent Vorland
 
Storming the Weather
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Kent Vorland
 
Kent Vorland
 
Kent Vorland
 
Kent Vorland
 
Storming the Weather
 
Storming the Weather
 
Kent Vorland
 
Kent Vorland
 
Kaylaaa 351d
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Kent Vorland
Storming the Weather
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So the first go-to-market strategy is probably the one that most people think of when they think about go-to-market, which is B2C. So business to consumer or business to customer. This means that you with your product or your service take it directly to the customer yourself. Generally, what this does is it lets you communicate and serve your customers directly, which gives you a lot of control. Now, the other thing, the more difficult thing that companies struggle with is that in that case you need trust, which means you need to build a brand. Now in order to reach customers, obviously, as I spoke about earlier, you need to find your addressable market and what that looks like. But in general, with this approach, the more generalist you are, the more of a market you're going to have, but the more expensive it's going to be to build a brand. However, the more niche you are in setting up a company, the more immediate you're going to find your demand and product market fit, but you've already done your research so you know there's a fit. So the more niche you are, the easier and quicker you're going to be spreading in amongst that niche as the go-to product provided for what it is that you're offering. So generally, if you're going to take this approach and you don't have tens of millions to put into building a brand, which is often what it takes to really build something big, then I highly recommend going into a niche and serving a niche because that is something that can spread like wildfire on its own if you provide this niche with something that is specific and useful and relevant and not already there. There's a product market fit but again as we spoke about earlier if we've gone through the steps you've already sorted this out you know there's a fit so if you're going be to see. Go niche. That's my advice.
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Thank you so much this is incredibly sound advice my question for you is how to what what is the tipping point between something being a necessity contextually in this niche market to it being a universal necessity the reason why I asked this question is how many apps in their infancy stage they fulfill and it's right there they're printing niche market but they expand and they grow and now we're dependent on them so how do I done
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That's a fantastic question and I think the actual definition of where the tip of point is will actually depend on the niche and I know that's a terribly vague response. But there are some things that quite simply cannot move outside something. Let's say you produce something specifically for farmers and it's a farm related product service that isn't applicable anywhere else and that's something that can't really move outside. Whereas if you produce something for a certain, let's say, freelancers then very often that I can also move outside with small twigs So yeah.
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So this generates a lot of excitement in a company. If you've got something that is generally applicable to a specific group that you had in mind, but the market actually may also find other uses that you didn't think of. So when you get to a point where you've gone niche and you gently when you start generating revenue and enough free cash flow to basically set up an R&D for R&D piece for a different commercial proposition, you know, skies the limit. and that's what we see many companies doing.
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So if you take it to a more advanced level as far as go to market goes and you've got enough of forecasts in terms of what your expectations are to do it, then you can absolutely add in there that you expect to serve a certain segment of the market to begin with and then follow on with other areas that are similar or overlapping because you're a complementary service to them as well. So it's absolutely brilliant, brilliant point. Thank you for bringing that up.
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Kent thank you so much for that comprehensive response so we have 2522 possibilities right where one would be so niche that it would be restricted to this industry the other example the latter is that you can expand when it comes to intellectual property I'm in when it comes to copyright just want to have to obtain multiple copy rights if they're going to roll it out in different fields or does the model itself get copyrighted in that case
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That is actually another excellent question. So between copyright, trademark and patents, there are a lot of different things and misconceptions around this. So copyright wouldn't actually be much of an issue. That only applies to content created. So that would be music, videos, text, et cetera, that you've created as a company that others can't take and vice versa. But you can make all your own versions of it. So what I think you're asking, I'll do this in another note.
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And please correct me if this is not it. But what I think you're asking is, if you're moving from one niche to others, if there are any restrictions from you taking your product from something in one place to another place, and the answer is no, because it's all yours. And even if there are other products doing what you do in a niche, you can still enter that. Even if the only thing that you can't do is utilize their direct patent, that doesn't mean you can't give the same product or services, but you have to build it your own way. And in tech this becomes very annoyingly complicated.
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Because you can patent different technology and you can even patent the journeys and ways to get to certain technology. But there are also such things that you can build your own technology and offer the same service regardless of if someone's patented it. You just can't do it the way that they did it. So ultimately there are no restrictions from you expanding and going into the markets as long as you don't directly copy something someone else has done which falls under patents or trademark if you're using anybody's brand or so on.
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Now please do let me know, very harshly if I misinterpreted that. Thank you for writing.
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Thank you can that was extremely thorough and it gives me a hint of optimism should I choose to pursue this field am I my goal is to create sort of like a beta version of an app have it be the first of its kind released in the context of nonprofit and then offer other individuals the ability to through a mutable lens take it and run with it so I would be receiving residuals and individuals could use it across platforms
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My follow up question for you would be have you heard of such a type of application so it's a deal just be a solid model that any nonprofit would be so easy for them to customize would like the wicks of apps and in doing so it would grant a lot of nonprofits the opportunity to with little capital create things that are really effective for their businesses and it would also streamline the field of nonprofit in a sense of data would be aggravated
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So I'm aware that you've actually, I see that you responded to my direct message so that it might be more detailed in there. But it's, you might have to ask you some follow up questions in direct message because it sounds like you're describing platform as a service for non-profit profits and it definitely exists in sort of the banking finance area. I don't know for non-profits but I'm happy to have a look and definitely let's chat more about it because it sounds super interesting.
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It's sort of if you're looking at companies like Rails Bank, that is now called Railer. Rail, so they basically are bought for a pound. And they basically restructured it into a new vehicle. But that's banking in a box. It's basically they have all the building blocks and you put together your own bank. The fastest they put something live was someone who had an idea for a bank they wanted to build and six weeks later they had a live bank. So it's absolutely doable. What you mean?
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That's not really interesting take I actually agree with us totally makes sense and it's hard to apply all of that and want to go but I mean I suppose if you're super dedicated and you have the time to do all of that in a really consistent throughout time that's definitely gonna work
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Yeah, absolutely. And I mean, people spend years planning and getting these strategies right. So sort of trying to make recommendations in a two minute sound **** is also it's difficult to bring too much value. But hopefully the concept is there. And then from there on, it's down to the individual project as to how these these these needs to be need to be applied. but yeah it's a really fun thing to do.
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And I thank you so much for sharing in advance and for everything that you shared so far as somebody who hasn't really studied tech formally and somebody with ideas I am looking for that synergistic dynamic with prospective programmers and so it helps to know their legal boundaries in which such a relationship could country fruition and some idea could actually be helpful to the world
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