Walmart is a great example of identifying your niche and maximising it.
The founder of Walmart, Sam Walton, understood the power of the discount model, but discounting wasn’t a novel idea.
It’s how he applied this model that made an incredible impact.
Sam Walton focused this strategy on small rural towns, which the big players ignored. By expanding rapidly in smaller towns, it was able to create significant buying power which eventually allowed it to overtake the larger players in metro centres.
Walmart is now the largest company in the world by revenue (and it also has the largest fleet of corporate jets, which it uses to service this rural footprint).
Knowing what to do can be less important than knowing where to do it. Focus on finding a niche that will allow you to maximise your impact.
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