In 2008, Netflix announced it would begin phasing out its DVD delivery model to begin focusing on streaming services.
They said they would continue offering DVDs by mail for the next five to ten years while they built the new streaming service.
Netflix still offers DVDs via mail, by the way.
Switching business models—or niches—can be a risky proposition. The best way to do it, in my view, is to phase out of one and into another.
No need to make sudden and non-reversible changes. That’s too risky for me.
When the time is right, you can phase out the old model/positioning, reducing your risk in the process.
It may take longer, but it’s far less risky.
And if it works for Netflix, it can work for you, too.