why I’m going for the niche that VS is ignoring for lingerie and others are ignoring for clothing
From Yuli Ziv’s blog http://yuliziv.com/2010/05/05/startup-lessons-making-money-vs-making-history/
â€œYou need to target at least a billion dollar market.â€ This statement alone leaves lots of niches untouched, and encourages innovation only in certain areas. This also creates trends and over saturation in the same space. Do we really need Foursquare AND Gowalla? While competition is a healthy thing in a capitalism environment, I tend to believe that if half of this innovation was channeled into â€œnon-trendyâ€ niche markets our lives could be improved much more.
â€œYou have to be a leader in your space.â€ This world is full of successful businesses that are not brilliant or revolutionary, or talked about in press every day, but they do a great service. They make their founders happy, and generate revenues sometimes as big as those of the â€œleadersâ€. If every business was a leader in their space, we would live in a world without competition, and eventually innovation.