Poshbrood: Starting Up In A Niche Industry [VIDEO]

Jimmy Gardner February 1, 2011 Tweet

A few months back, October to be exact, a local DC startup, Poshbrood, launched to help families find a way to enjoy luxurious travel without paying luxurious prices.  It was the brainchild of Elizabeth Thorp, a local DC PR executive, mother of three, and blogger for among others, the Huffington Post.  We featured the site when they launched, and a few months later caught up with Elizabeth to grab a quick interview to discuss how the site has been going since launch.  Here is a small segment of the interview.  As you will see, we got quite absorbed talking about starting a company.  

To check out the interview in its entirety, watch it here.

As always we love to write about new and innovative startups and highlight for our readers crucial tips and lessons that have been learned along the way. You can hear a few specific points from Elizabeth in the short clip above, but I want to reiterate some of them as I feel they are extremely important. When asked about how she got started down the path, she mentioned how she did a SWOT report.

S= Strengths
W= Weaknesses
O= Opportunities
T= Threats

Following that analysis, Elizabeth mentions how she purchased market research in order to get a good overview of the niche industry she was looking to break into. If you do not have money to buy research, you might have time – so use the tools available to us to do your own market research. Google for instance, as simple as it sounds, is an easy place to start doing market research in order to make smart decisions early in the process. A valuable lesson for all of us.

So far, a few months in, Poshbrood is doing well, adding content to an ever growing database of travel locations. For all of you with families out there, I highly recommend checking it out, as it will save you some money and add to your families vacationing enjoyment.

Come meet Elizabeth and check out Poshbrood as a featured demo at Wednesday night’s Tech Cocktail DC Winter Mixer 2011 at Slaviya in Adams Morgan.