How to build a monopoly in your business | Job | school | and more physics lover

Building a monopoly

Brand scale network effects and technology in some combination define a Monopoly but to get them to work you need to choose your market carefully and expand deliberately

Start small and monopolize

Every startup is small at the start every monopod dominates a large share of its market therefore every startup should start with a very small market always wear on the side of starting to small the reason is simple it's easier to dominate small market than a large one . If you think your initial market might be too big it almost certainly is small doesn't mean non-existent.

Scaling up

Once you create and dominate a nice market then you should gradually expand into related and slightly broader markets Amazon shows how it can be done Jeff bezos founding vision was to dominate all of online retail but he very deliberate Li started with box their millions of books to catalogue but they all had roughly the same shape they were easy to ship and some of the most really sold books those least profitable for any retail store to keep in stock also drew the most enthusiastic customers Amazon become the dominant solution for anyone located far from a book store or seeking something unusual Amazon then had two options explained the number of people who read books or expand to adjust and markets they choose the letters starting which the most smell similar markets CDS videos and software Amazon continued to add categories gradually until it had become the world's general Store the name itself brilliantly and capsulated the company's scaling strategy the biodiversity of the Amazon rainforest reflected emergency first goal of catalogue cataloguing every book in the world and now it is tense for every kind of things in the world period eBay also started my dominating small nache market when it launched its auction market place in 1995 didn't need the whole world to adopt it at once the product work well for intense interest groups like beanie baby observes once it monopolize the beanie baby trade eBay didn't jump straight to listing sports car or industrial surplus it continued to cater to small time hobbyist until it became the most reliable marketplace for people training online no matter what the item sometimes there are hidden obstacles to scaling a lesson that eBay has learnt in recent years like all marketplace is the auction market place lend itself to natural monopoly because buyers go where the seller's are.