Established businesses succeed by understanding their environments but as a startup, you have the opportunity to reshape the business landscape. The question is: how?
The founders of RapidSOS had figured out an easy way to link mobile phone callers’ locations to established 911 systems. Now they had to decide how to take their product to market. Would they create a new value chain by designing an “Uber for ambulances”? Would they disrupt the industry by targeting a narrow segment and winning over patients and advocacy groups? Would they partner the insurance companies that pay for ambulance services? Or would they licence their intellectual property to service suppliers like Motorola?
Writing for Harvard Business review, Joshua Gans, Erin L Scott, and Scott Stern outline four distinct strategies for startups – a compass by which to navigate your startup to success.