Here’s what I mean:
If you’re going to compete in the banking world, you’ll never succeed trying to be the next Citi Bank.
The big players will CRUSH you.
What you can do is find a small part of their business and crush THEM on that 1 thing.
For example:
Citi offers construction equipment loans.
It’s not a huge part of their overall business, and they likely don’t devote unlimited resources to it.
It’s just 1 more revenue stream for them.
But for you?
This could be your ENTIRE business.
You focus ONLY on creating a great app that offers instant construction equipment loans at competitive rates.
Odds are Citi won’t even notice you eating their lunch.
Lunch is just a small part of their day,
And sometimes it gets skipped altogether if they are caught up with other things.
But if you start trying to steal their entire business…
They’re going to notice.
This is happening more and more as it becomes easier to build hyper-specific apps.
It’s what we’re doing with Visbanking,
And it’s what a million other small businesses are doing with anything under the sun.
Who’s lunch are you eating?
—
Read more in Brian’s Linkedin account: Brian Pillmore
#banking #product #specialization
Get PDF Report
