Problem is they often use SF as the test city and forget that every city has different unit economics due to their physical manifestations. SF ia dense, Atlanta is not.
Have seen a few marketplace startups running out of $ recently after expansion to new metros underperformed.
I’m reminded of @bgurley’s thoughts that it’s vital to get the playbook/flywheel right in one city before expansion.
x10 if lead gen for the service is ultra competitive
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Yep - every city has its quirks, pro of SF is majority are early adopters but that leads to false signals too. Underserved metros have a lot of copy cats that do well in their hometown b/c a well-funded version hasn’t shown up yet so CAC is artificially low.
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Such an important lesson. Even if seems obvious, can be difficult to resist temptation to test new mkts before hitting liquidity/nfx in one One complication: tradeoff btwn placing eggs in 1 basket vs experimenting across 2-3 mkts w diff characteristics to inc % of success in one
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Have seen the benefit of both sides of this coin. Most see more cities = more problems... But not always the case.
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and home markets almost always outperform HQ. SF early adopter mindset != most of the country
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SF is an assisted living community for the young. Claiming consumer product market fit there is like walking through a zoo with a gun and referring to yourself as a hunter
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We are talking about scooters right
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There is downside to this thought process. It is always better to choose two regions or two markets so that you have chance to compare dynamics between the same type of personas. We selected one market- a wrong one (hindsight analysis) and got bogged down for quite sometime
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https://t.co/JSDdUnPG8E https://twitter.com/warikoo/status/1216199003764858880?s=21 …
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When expanding geographically, it is important to adjust the model for the new market. The values and principles should not change.
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