How to Thrive in a Competitive Industry With No Experience, According to Hint Founder and CEO Kara Goldin
Curated from: inc.com
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Breaking into a new industry
Samantha Ettus founded Park Place Payments in 2018. She was not a typical startup founder. Her goal was to transform how financial services are sold to small businesses.
As a best-selling author and host of the women-in-business podcast, she built a career around supporting women pursuing their dreams. Then, at a speaking conference, she saw a gap in the market that could attend to the needs of small-business owners and create jobs for women.
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Breaking into a new industry - Kara Goldin
Kara Goldin founded unsweetened flavoured-water company Hint in 2005. At the time, unsweetened flavoured water was not even a category.
As an outsider entering a well-established industry, she discovered that consumers and buyers are more interested in a story. It's one thing to have a brand name, but consumers buy your "why".
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Becoming successful as an outsider
Companies that survive are the ones that are able to get sticky with the customer and offer more.
Third-party testimonials of people who have used the product are powerful especially if you have tried to connect with someone and they're just not responding. It's about knowing when to add another story to get them to respond.
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The outsider's advantage
The little guy coming into an industry can disrupt and innovate. They solve problems differently from the norm because they don't do things in the way "it's always been done".
When you get into an industry, you need to get close to your customers and focus on solving their problems. Sooner or later, you'll start to grow.
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