Narrowing Your Target Market
Now . . . here’s the thing. Narrowing your market can take some time. It was really hard in the earliest days at Blend as we were narrowing our focus.
When I started my work at Blend in 2013, we didn’t even have a product. We had a platform that the team had built over the past year that allowed for data analysis and the customization of workflows. These product features could have been used in any industry, not just the mortgage industry. And even within the mortgage industry, the platform could have been used by mortgage lenders, mortgage investors, and mortgage servicers.
We knew from our experience in the market that each of these segments within the industry had dire need for a modern platform. We could make a persuasive case internally that working with any one of those three segments would drive us forward in achieving our company mission and vision.
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