Think You Can’t Compete Against Bigger Competitors: Target Niche with Tech

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ramon in taxi - 20160324_081719

So Uber and Lyft are the BIG guys in the market for car service – right? There are some companies who are following them – but in narrow markets. These new companies are choosing to target seniors, children and other demographics that might want an added level of safety, security or comfort.

Could Uber or Lyft do this? Of course. But right now they’re not – leaving a nice opening for other services.

What about your market. Do you have some big competitors? Find out what they are NOT doing and fill that void for your customers and theirs.

The NY Times writes,

She now schedules three rides a week for her daughter, which costs about $45 to $50 a week. While ride-hailing services have been popular in the start-up economy, new entrepreneurs are going after a specific niche: providing rides for children.

These start-ups are nibbling at the industry’s fringes, where Uber and Lyft — at least officially — don’t go. (Per policy at Uber and Lyft, drivers are not supposed to give rides to unaccompanied minors.)

Although they are still testing the waters in a small number of markets, the sector is already becoming competitive. It’s part of a bigger trend of ride-hailing, with services finding ways to capture a very specific market segment, said Harry Campbell, who writes about the industry at his and is a driver for Uber and Lyft.

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Ramon Ray, founder and editor Smart Hustle Magazine. Entrepreneur, best selling author and global keynote speaker.