Identifying a niche that will be successful is freaking hard. But, you can read successful stories on startups to help you understand why they are always on the lead while others are unheard of.
In as much as the success stories can help you, you still need to more so that you back up the success stories with some creativity and determination. That way, you can be assured that you will be moving towards the success direction too.
Below are some of the best successful fitness startups that have been on the lead and lessons you can grab from each of them.
Lesson: Target Several Niches
Kaltura is one of the successful startups that has existed. It’s based in New York city and It deals with software. It mainly operates in four major markets as outlined below:
- Cloud TV which serves as operators and media companies.
- Online Video Platform(OVP)- usually offered mostly to companies and brands looking to market their products.
- Education Video Platform(EdVP)- offered to educational institutions who are using video lessons to learn.
- Finally, the Enterprise Video Platform which is used mostly used by enterprises who use video to market their products.
If you want to handle marketing projects that require to launch a video, then you should always opt for Kaltura. Why? Because it will offer you a video platform as one of their best services. So, marketing should be the no-brainer.
One of the reasons why Kaltura has stood out from the crowd and made it popular is the fact that an open source that publishes videos. Some of the niches it covers are education, enterprise, and media, which are on demand.
Kaltura has always done their best to satisfy the needs of their customers by building specific features that’s tailored to their needs. This is why, Kaltura serves more than 300,000 enterprise, education, and media companies such as Harvard, HBO, Bank of America, etcetera.
Recently, Kaltura raised $25 million and this should give you insight why it is a wise idea targeting numerous niches. Though that doesn’t mean should be a generalist. Have a few niches and master them.
Lesson: Offer Personalization
If you hadn’t heard of Pandora, you should because they have music services that’s tailored to your needs. They value their customers and as a result, they normally provide a platform where their listeners can air their feedback, thus making them serve them better.
Because of the priority that Pandora gives to their listeners in form of listening to their feedbacks, listeners feel important which makes them more loyal customers. Pandora just plays the music that’s selected by their listeners only. In fact, Pandora will raise $231 million if they make sales of 10 million shares.
Lesson: Put End-Users in Control
Taboola is a startup that was started in Israel by Adam Singolda in the year 2007. When it started, it used to provide a recommendation engine for videos. After that, it had its headquarters relocated to New York City. The interesting part about this company is how much it makes. In November 2007 alone, it raised $1.5 million.
Their success didn’t stop there. In November 2008, Taboola raised $4.5 million and in 2011, their books of accounts recorded a total of $9 million. There’s therefore, no doubt that Taboola is making much and this should be a lesson to everyone looking forward to setting up one.
There is a lot of rumor out there that will prevent you from realizing that you can also do it. Please don’t listen to all those. The truth is that with determination, you can as well be successful just like the startups discussed above.