I’m in the planning stages of starting a business and I’m torn between targeting tried and tested customers or aiming for a new customer base that is currently underserviced by the opposition. Which is the safer bet?
By targeting under-serviced and even high-risk sectors, Tim Tebeila built an insurance brokerage that has gone from strength to strength. The key to his success was identifying a niche, untapped market to service, as Tebeila felt these had the most growth potential.
He also advises that new business owners hire people who are more experienced than they are, wherever possible, and who buy into your vision from day one.