Earlier today we published an article about Lock8, a tech company improving upon a marketplace that was already growing. For this briefing, the theme is the same: improving efficiency.
In the Supercar market, one typically can’t just walk into the local dealership, pick one out, and drive away the same day. For the ultra high-end Supercars such as the Bugatti Veron, Lamborghini Aventador, or a vintage Ferrari Testa Rossa, it can take up to 3 years before receiving a car after an order is made. This market is the niche of niche, and services the super rich. However, even the ultra rich make impulse buys, and Tom Hartley has been servicing these impatient millionaires and billionaires by providing them with something no one else in the industry can.
Tom has made his niche market - Supercars - more efficient by exponentially improving delivery time. And why not? If his customers are worth a few hundred million, they too deserve the opportunity to drive away with their new vehicle within a day or two of making the purchase - the same way you did when you bought that Toyota Corolla…
The theme behind Tom’s business is simple. His customers can’t go anywhere else in the world and buy and drive away with a similar car in his showroom on the same day. Sure, they can go to other dealerships around the globe and find the same cars, but it could take anywhere from 1 to 3 years to actually park that puppy in their driveway.
[Tweet ““There isn’t any car that I can’t supply within 48 hours…””]
The beauty of Tom’s business is that it is simple. Sure, it requires Tom to scour the globe for the rarest of rare cars and he must have plenty of connections around the world, but he can explain what his business does in one sentence. The automobile entrepreneur explained his business to Bloomberg simply as “There isn’t any car that I can’t supply within 48 hours…”
Two lessons we can learn from Tom Hartley’s entrepreneurial success are that it is wise to start a business within a marketplace that already exists - and improve upon the current services being provided - and that you should be able to explain what it is your business does in one simple sentence.
Stay hungry,
Aaron
P.S. Visit Tom’s website for some online window shopping…
