Ingrida Gelminauskiene on Hidden Vilnius treasuresBusiness Consultant | Slow Life Enthusiast | Inspiring New BeginningsSome time ago
Interesting to discover yet undiscovered. Sunday trip to the newly opened Dūmų fabrikas [Spaces for your events and cultural activities at Dūmų street 5, LT-11119, Vilnius]. Unfortunately, we didn't get inside, but the old-new harmony around fascinated me.
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Be the first to comment Ingrida Gelminauskiene on Hidden Vilnius treasuresBusiness Consultant | Slow Life Enthusiast | Inspiring New BeginningsSome time ago
My favorite NEW! sushi place:
https://www.15min.lt/m/id/en/society/a-business-that-doesn-t-feel-the-crisis-lithuania-s-first-luxury-sushi-restaurant-opens-its-doors-528-1332390
A business that doesn’t feel the crisis – Lithuania’s first luxury sushi restaurant opens its doors
Atėnė Strazdas DrozdaitėInterior designer/Survivor/Thinker/Forever learning/ Enthusiast
What a splendid yet down to earth interior!😍 Thanks for sharing,
Now it may be good time to score cheaper long term rent contract if you want to live in the city center, due to collapse of short term rent market (airbnb)
Atėnė Strazdas DrozdaitėInterior designer/Survivor/Thinker/Forever learning/ Enthusiast
Intresting, however prices for long term rent contract in Klaipeda increased by almost 100eur🙈
Small market: curse or opportunity?
In my opinion, frequent mistake for founders is aim for very big market immediately. While prominent tech figures champion approach "go big or fail", I argue that each startup has some growth stages which it needs to complete before it can proceed to the another step.
Your goal should be to become monopoly, as otherwise it is a very tough space to be as startup and become 10x better than other existing solutions. Therefore, initially you should define your market as narrow as possible - the strategy which may sound counterintuitive.
For example, our product CityNow.org - real estate map - quickly became a leading platform to find new construction home in Vilnius. The market is restrained, since 30% of transactions are in new primary market (new construction) and 80% in Lithuanian sales in its capital, Vilnius. Such strategy allowed us to win and we can now expand to other markets.
So many startups tried to compete with major listing real estate portal and failed, since they were doing exactly the same thing for same large market.
When you are a monopoly, good things start to happen - word of mouth, referals, negotiating and pricing power. My advice to all other founders would be to redefine and narrow your market until you become a monopoly and stay here as long as possible. Good luck :)
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