Vertical vs. Horizontal Markets

In this clip, the difference between vertical markets – niche players serving a specific need or customer set; and horizontal markets – goods or services that enable a platitude of businesses – are defined for the student of entrepreneurship. The needs of start-ups differ dramatically by vertical, says serial entrepreneur Steve Blank. And taking advice from new enterprises in a different market niche can end in disaster. Take heed when receiving advice from friends in a neighboring business vertical.