What you can Learn from Wayfair — the online furniture retailer generating $5B
▻https://hackernoon.com/what-you-can-learn-from-wayfair-the-online-furniture-retailer-generating
I was listening to the How I Built This podcast this morning featuring Wayfair’s founders and found a tremendous amount of value and parallels that can benefit software startups — particularly bootstrapped companies.Wayfair didn’t start selling a plethora of home decor and furniture from day one. In fact, they started with a single item.Wayfair’s founders, Steve and Niraj, noticed brick-and-mortar retail stores weren’t able to supply consumers with the selection most people hoped for. By trying to offer everything, large retailers were only able to offer a couple choices of each item.Steve and Niraj saw this as an opportunity to choose one specific item and offer the largest selection of it. To be the spot to buy whatever it was.Rather than choosing an item they were interested in, they (...)
#product-market-fit #mvp #growth #startup #minimum-viable-product