NEW MARKETS are the areas where people see New Product or New Service and it is also called #innovation.
When New Markets become matured and crowded with many players and scaling become easy as users already knew about the new product.
There are TWO ways to create New Market in the world.
FIRST, you raise the huge fund …yes 😉 with little validation and your #investor backing you up with more funds (Funding rounds) till you cross the LONG ADAPT PERIOD Examples are today’s ecommerce saga and digital payments with Cash-Back or co-working places model.
In India, adaptability is slow just because of Consumer Behaviour. You need VC/Investors to help you to create new market.
SECOND, when you keep changing business plans to run your startup and survive on pivoting model for survival till users start adapting your new services.
In my case, i had no choice but the SECOND. I had few seed-fund cash but I waited for the LONG PERIOD from 2008 to 2015 with 5000 garages on the automotive platform. Today, every month around 10 to 20 new startups are trying to do the same;)
You can read about my startup and my efforts in my book.
Download. its Free. https://goo.gl/q0OFMT
Picture credit : The Times of India Group