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New business opportunities stem from understanding the full landscape of 'jobs' that people are trying to get done on a daily basis. The authors begin by explaining two of Harvard Professor Clayton Christensen's best-known concepts: disruptive innovation and Jobs to be Done. Then, they argue that these theories are natural complements: Jointly, they show where incumbents are vulnerable and how customers hunger for new solutions. They introduce the 'Jobs Atlas', and show how it can be used to bridge the two theories and develop creative solutions for customers.

Business leaders are trained to focus on big, attractive markets, yet some of the most compelling sources of growth come from markets that begin as tiny “footholds.” Eight of the ten most valuable U.S. companies started in small segments of the economy, such as IBM, whose origins were in punched cards to tabulate the 1890 U.S. Census, or ExxonMobil, which refined petroleum for kerosene lamps. Penetrating foothold markets requires an entirely different approach than that used for big, established markets, and there are three imperatives of successful foothold strategies: to reduce uncertainty, stimulate demand, and enable leadership. While the narrowness of foothold markets makes them powerful, it also creates difficulty in choosing them. Leaders can identify a strong foothold because it has a clear target customer, provides a pathway to a broader market, is easily satisfied, and has few dependencies on separate decision makers and business partners. After comparing the foothold markets of Blackberry and Gatorade, this article states that a company searching for footholds should consider what it wants to accomplish, assess potential markets, create an exhaustive list of footholds, and evaluate them according to its objectives.

The greatest business successes in history have stemmed from the ability of companies to capture new markets. Yet traditional business strategy in established fields does not provide appropriate guidance for capturing new markets, and a distinctive approach is essential. In crafting strategy for new markets, firms should pay attention to five critical ways in which their approaches should differ from strategy for established markets: 1) generate demand before vanquishing competitors; 2) time market entry rather than move immediately to exploit opportunities; 3) sell to customers directly before leveraging powerful sales channels; 4) win in targeted footholds prior to targeting big markets; and 5) retain flexibility instead of trying to leverage fixed costs. While discussing these guidelines, this article examines the conditions for early-mover advantage and explains when to use “superhighway” or “country road” sales channels. Large firms often spend a great deal of time charting customer segments, studying price sensitivity, and estimating demand for new markets, yet data on new markets are either backward-looking or fictional. The success or failure of a new venture often comes down to identifying a handful of risks up front, and managers should target foothold markets once risks are identified.