This guy just zoomed pass me on his bike.
People think of Uber as a cab company. But Uber doesn’t sell cabs it sells convenience. Everything is more convenient with Uber. The payment, the rating. The fact that you can see your drivers profile. You just click the button and just like a video game you can see the cab coming towards you from your phone.
Cabs already existed but Uber came along and made it a lot easier for its customers.
Than instead of expanding vertically in their market they grew horizontally into other markets. In other words, instead of finding new customers for their business, Uber decided to find new businesses for their customers.
Businesses like Uber eats where you can now order from the largest fast food chain in the world – McDonald’s.
When it comes to growth strategy, it helps to ask yourself the big question: What business am I really in?
Also published on Medium.