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Wear you want_competing successfully

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際際滷 from Start it Up, Power it Up #4 by thumbsup.in.th Speaker: Mr.Martin Toft Sorensen Mr.Julien Chalt辿 More Detail of the event: http://thumbsup.in.th/2013/04/start-it-up-power-it-up-4-eng/

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COMPETING SUCCESSFULLY May 2013 Property of Digital Media Partners Pte. Ltd.
ABOUT US
| WYW Competing Property of WearYouWant OUR STORY Idea generation May 2011 3 Trend of bringing fashion online in Europe Focus on smaller merchants not represented in e- commerce Gather a large number of individual shops under a platform No stock, no logistics
Trend of bringing fashion online in Europe Focus on smaller merchants not represented in e- commerce Gather a large number of individual shops under a platform No stock, no logistics | WYW Competing Property of WearYouWant OUR STORY Creation to launch October 2011 4 Register company Hire first staff. Sales Manager and Web Developer Target 3 months to get 100 contracts Launch with 97 merchants
Register company Hire first staff. Sales Manager and Web Developer Target 3 months to get 100 contracts Launch with 97 merchants Trend of bringing fashion online in Europe Focus on smaller merchants not represented in e- commerce Gather a large number of individual shops under a platform No stock, no logistics | WYW Competing Property of WearYouWant OUR STORY Launch December 2011 5 Celebrity endorsement that opened a few doors Hollywood launch Big PR boost and more shops signed News that big player was planning to launch
COMPETING SUCCESSFULLY
| WYW Competing Property of WearYouWant 1. FIND THEIR WEAK POINTS 7 Competitors are often not good at everything. They may take their eye off the ball in areas like customer service or fail to explore new channels or markets. This provides an opportunity for a startup to win. Image 息 Flickr 2013
| WYW Competing Property of WearYouWant 2. OUT-INNOVATE 8 Remember that large competitors are constrained by their very size - size and speed are inversely related. Small startups can innovate quicker than a large organisation - use this to your advantage. Image 息 Flickr 2013
| WYW Competing Property of WearYouWant 3. OWN A NICHE 9 Big companies only play in big markets. Large competitors can be beaten by going deep into a niche, rather than wide to serve a mass-market. Image 息 Flickr 2013
| WYW Competing Property of WearYouWant 4. PLAY POKER, NOT CHESS 10 Startups should be like poker players, taking big risks. Large competitors are like chess players, thinking through strategies five, six, seven steps ahead. Keep shifting and keep them off- balance. Image 息 Flickr 2013
| WYW Competing Property of WearYouWant 5. FAIL FAST 11 Big companies protect their assets and carefully consider the options before making a move. They have a lot to lose, while small companies dont. For startups, its often better to fail fast and move on to the next opportunity. Image 息 Flickr 2013
| WYW Competing Property of WearYouWant 6. USE THEM TO TEST A MARKET 12 A large company may validate a market, but not be good enough to prevent a nimble startup operating within it. Its not always an advantage to be a first mover. Watch the mistakes your competitor makes. Image 息 Flickr 2013
| WYW Competing Property of WearYouWant 7. SOMETIMES ACCEPT A LOW MARGIN 13 Sometimes a competitor can negotiate better margins due to its larger volume. A startup, with limited negotiating power, can find it hard to get the same deal. However, the startup may be able to use this product to drive other sales and compete successfully. Image 息 Flickr 2013
| WYW Competing Property of WearYouWant 8. FOCUS ON YOUR PRODUCT 14 Startups need to exploit their advantages aggressively. Constantly assess and discard new product directions that may distract from your critical focus. To succeed, you have to capitalize on the strengths that accompany your size and market position. Image 息 Flickr 2013
| WYW Competing Property of WearYouWant 9. DONT OVER-FOCUS ON COMPETITORS 15 Its important to observe and monitor the competition. Dont be deterred simply because the competition is bigger and better resourced. Focus on your product, not simply what competitors are doing. Image 息 Flickr 2013
THANKS Property of Digital Media Partners Pte. Ltd.

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Wear you want_competing successfully

  • 1. COMPETING SUCCESSFULLY May 2013 Property of Digital Media Partners Pte. Ltd.
  • 3. | WYW Competing Property of WearYouWant OUR STORY Idea generation May 2011 3 Trend of bringing fashion online in Europe Focus on smaller merchants not represented in e- commerce Gather a large number of individual shops under a platform No stock, no logistics
  • 4. Trend of bringing fashion online in Europe Focus on smaller merchants not represented in e- commerce Gather a large number of individual shops under a platform No stock, no logistics | WYW Competing Property of WearYouWant OUR STORY Creation to launch October 2011 4 Register company Hire first staff. Sales Manager and Web Developer Target 3 months to get 100 contracts Launch with 97 merchants
  • 5. Register company Hire first staff. Sales Manager and Web Developer Target 3 months to get 100 contracts Launch with 97 merchants Trend of bringing fashion online in Europe Focus on smaller merchants not represented in e- commerce Gather a large number of individual shops under a platform No stock, no logistics | WYW Competing Property of WearYouWant OUR STORY Launch December 2011 5 Celebrity endorsement that opened a few doors Hollywood launch Big PR boost and more shops signed News that big player was planning to launch
  • 7. | WYW Competing Property of WearYouWant 1. FIND THEIR WEAK POINTS 7 Competitors are often not good at everything. They may take their eye off the ball in areas like customer service or fail to explore new channels or markets. This provides an opportunity for a startup to win. Image 息 Flickr 2013
  • 8. | WYW Competing Property of WearYouWant 2. OUT-INNOVATE 8 Remember that large competitors are constrained by their very size - size and speed are inversely related. Small startups can innovate quicker than a large organisation - use this to your advantage. Image 息 Flickr 2013
  • 9. | WYW Competing Property of WearYouWant 3. OWN A NICHE 9 Big companies only play in big markets. Large competitors can be beaten by going deep into a niche, rather than wide to serve a mass-market. Image 息 Flickr 2013
  • 10. | WYW Competing Property of WearYouWant 4. PLAY POKER, NOT CHESS 10 Startups should be like poker players, taking big risks. Large competitors are like chess players, thinking through strategies five, six, seven steps ahead. Keep shifting and keep them off- balance. Image 息 Flickr 2013
  • 11. | WYW Competing Property of WearYouWant 5. FAIL FAST 11 Big companies protect their assets and carefully consider the options before making a move. They have a lot to lose, while small companies dont. For startups, its often better to fail fast and move on to the next opportunity. Image 息 Flickr 2013
  • 12. | WYW Competing Property of WearYouWant 6. USE THEM TO TEST A MARKET 12 A large company may validate a market, but not be good enough to prevent a nimble startup operating within it. Its not always an advantage to be a first mover. Watch the mistakes your competitor makes. Image 息 Flickr 2013
  • 13. | WYW Competing Property of WearYouWant 7. SOMETIMES ACCEPT A LOW MARGIN 13 Sometimes a competitor can negotiate better margins due to its larger volume. A startup, with limited negotiating power, can find it hard to get the same deal. However, the startup may be able to use this product to drive other sales and compete successfully. Image 息 Flickr 2013
  • 14. | WYW Competing Property of WearYouWant 8. FOCUS ON YOUR PRODUCT 14 Startups need to exploit their advantages aggressively. Constantly assess and discard new product directions that may distract from your critical focus. To succeed, you have to capitalize on the strengths that accompany your size and market position. Image 息 Flickr 2013
  • 15. | WYW Competing Property of WearYouWant 9. DONT OVER-FOCUS ON COMPETITORS 15 Its important to observe and monitor the competition. Dont be deterred simply because the competition is bigger and better resourced. Focus on your product, not simply what competitors are doing. Image 息 Flickr 2013
  • 16. THANKS Property of Digital Media Partners Pte. Ltd.
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