Today we will dive even deeper into the topic discussing Startup Studio approach to the market.
Slowly the Startup Studio model is taking shape in your mind, and you are discovering more and more about this fantastic world.
In the previous articles, we found out that the Startup Studio model has many different shades, and each Studio has its features. A Studio can be differentiated according to its approach to the market and its business strategies.
Before starting our new journey, let me remind you of the articles related to the Startup Studio world that you can find in our blog :
- The Startup Studios advent in Italy
- History of Startup Studios Model: a 30-years journey
- Types of Startup Studios
- What’s the difference between Accelerators, Incubators, and Startup Studios?
Are you ready?
What is the market approach?
We can identify two different market approaches for Startup Studios. Let’s clarify what the market approach means.
It’s super easy, with no particular calculations or formulas.
For market approach, it generally meant how the Studio organizes its strategies within the market.
We will explain two possible approaches to the market: the vertical approach and the opportunity-based approach.
Let’s dive into the topic, starting with the first Startup Studio approach: the Vertical approach.
This approach is a pretty common strategy for Studios, and it has different nuances: it can be vertical by sector (proptech, blockchain, food tech, etc.), by business model (marketplace, eCommerce, etc.), or by target (B2C, B2B, Direct to consumer, B2B2C).
In verticalization by sector, the Studio increases its knowledge in a specific industry, becoming an industry expert (e.g., the food industry).
Talking about verticalization by business model, the Studio gains a cumulated experience on specific technologies related to a particular business model (such as e-commerce).
Finally, the Studio can adopt a vertical approach by target: it is easier to “recycle” customers for the future than acquiring new ones.
A Startup Studio that has successfully applied this strategy is eFounders, specializing in SaaS (Software as a Service). However, in 2020 it stated that in the future, it would explore new market segments.
The other Startup Studio approach to the market: Opportunity-based
The other approach is opportunity-based. If the previous approach can be defined as vertical, this one could be described as horizontal.
This approach is based on spotting the market’s opportunities without getting specialized and becoming an expert in one specific industry. The Studio seeks to attract talents and entrepreneurs to launch ventures in various industries, seeking the highest return.
The name opportunity-based speaks for itself: the Studio follows market trends and opportunities for creating new ventures.
Are talented people aware of their uniqueness? In many cases not. They are ambitious people, who always push their limits, who don’t settle and aren’t afraid of change, they are always waiting for it.
If you can’t turn off your brain because too many ideas are floating in your head, if you don’t identify yourself in a specific role, if your mantra is to learn something new every day, you’re the perfect talent for our Dojo!