The Power of Patience
It seems like the entire planet has hit the pause button in the last few weeks, and we're all a bit impatient. Especially now, the story of Strava's patient, focused approach to growth feels timely and inspiring.
In a recent appearance at Stanford's Entrepreneurial Thought Leaders series, Strava co-founder and executive chairman Mark Gainey described the "inch wide, mile deep" strategy that guided the company.
All along, he says, the ultimate goal was to build a "virtual locker room" for athletes of all stripes. But Strava's go-to-market strategy was laser-focused on a particular segment of passionate road cyclists. Strava started by engaging in grassroots outreach and deep conversations with those cyclists, and only expanded after they had, as Gainey puts, "nailed that niche."
In February, a little more than a decade after Strava launched, it hit 50 million users, including runners, swimmers, skiers, climbers and — yes — plenty of cyclists.