I run a company Oyeparty.com, which is an Online platform around Nightlife. We have been running in a self sustained mode for more than a year. Also, we have expanded in 5 cities.
We have gone out on ground,have understood the pain points, tried to solve, failed , iterated numerous times and finally is live with an acceptable solution well approved by customer & businesses. We don’t have great traction, but we have very good conversions. Recently reaching out to many investors, following perspectives came up.
1) Nightlife section is a blue ocean without any big giant, but its a niche market. I have been suggested also that y don’t we look to expand our segment into F&B. That’s a big market size. I really don’t understand whats so wrong with targeting 10 % opportunity of a 1 Billion $ Market(Blue Ocean) rather than 0.1% of 10 Billion $ Market. Share your views !!
2) Two ways to Scale up –
– Go deep in a market , figure out your tie ups, strengthen, start monetizing, replicate to other cities.
– Do very few things to start with. Don’t go deep in a market to work out money/ tie ups. Start replicating those few things in as many no. of places you can.. Then start going deep one by one.
Which one is a more sustained way to scale ?