Alright let's do this.
A little bit context first...
Been raised on the sidewalk, bought in the slowlane, tried it, hated it. Became self employed; realized it was better, but not good because the T and S in CENTS are kinda very mucho important. Decided to immigrate to the USA because I love capitalism and warm weather. A couple months and a couple thousands of dollars in legal fees later, I'm here and ready to get to work.
IDEA
As soon as I got here, I started taking notes on unsolved needs, service deficiencies, complaints, pain points, industry gaps, etc. This resulted in a list of 12 potential businesses. I discarded 9 and kept 3. I spent some time on the #1 contender (building a franchise) and discarded it as well because I had no way to predict if this relatively new market would still be a thing 10 years from now. Idea #2 turned out to make way more CENTS than expected. It's actually quite similar to what @MJ DeMarco did with Limos.com . I spotted a high offer & high demand sector that is very fragmented. There is a place for a company right in between the service offer and the customers; this is exactly where my company will sit and throw shovels full of value at everyone's face.
EXECUTION
Product creation...
Working 2 jobs, being self employed and a active pro athlete leaves me about 2 hours daily to work on this. I estimate it will take me about 6 months to build a Minimal Viable Product since I already have some experience doing that kind of work. It mostly consists of a website with automation features backed by a live customer service.
Selling the service...
Since I used all my worthless Canadian dollars to immigrate here, I will have to work A LOT during the product creation phase in order to fund a month long targeted add campaign. The said campaign will serve the purpose of collecting data, that I will present to the service providers when pitching them "pay us a % only if you make the sale" offer.
Revenue model...
While it's possible to monetize this a dozen ways, I'm currently leaning towards the commission % model, because I think (might very well be wrong) that our clients will only want to extend their wallet to our business if they receive paying customers first. This might change in the future.
ALREADY DONE
OK bye! I will report back when the directory is finished or if anything new shows up!
P.S. Any constructive criticism is welcomed.
A little bit context first...
Been raised on the sidewalk, bought in the slowlane, tried it, hated it. Became self employed; realized it was better, but not good because the T and S in CENTS are kinda very mucho important. Decided to immigrate to the USA because I love capitalism and warm weather. A couple months and a couple thousands of dollars in legal fees later, I'm here and ready to get to work.
IDEA
As soon as I got here, I started taking notes on unsolved needs, service deficiencies, complaints, pain points, industry gaps, etc. This resulted in a list of 12 potential businesses. I discarded 9 and kept 3. I spent some time on the #1 contender (building a franchise) and discarded it as well because I had no way to predict if this relatively new market would still be a thing 10 years from now. Idea #2 turned out to make way more CENTS than expected. It's actually quite similar to what @MJ DeMarco did with Limos.com . I spotted a high offer & high demand sector that is very fragmented. There is a place for a company right in between the service offer and the customers; this is exactly where my company will sit and throw shovels full of value at everyone's face.
EXECUTION
Product creation...
Working 2 jobs, being self employed and a active pro athlete leaves me about 2 hours daily to work on this. I estimate it will take me about 6 months to build a Minimal Viable Product since I already have some experience doing that kind of work. It mostly consists of a website with automation features backed by a live customer service.
Selling the service...
Since I used all my worthless Canadian dollars to immigrate here, I will have to work A LOT during the product creation phase in order to fund a month long targeted add campaign. The said campaign will serve the purpose of collecting data, that I will present to the service providers when pitching them "pay us a % only if you make the sale" offer.
Revenue model...
While it's possible to monetize this a dozen ways, I'm currently leaning towards the commission % model, because I think (might very well be wrong) that our clients will only want to extend their wallet to our business if they receive paying customers first. This might change in the future.
ALREADY DONE
- CENTS analysis
- Identify similar business models
- Identify competitors
- Research on the industry (customers and service providers)
- Identify the best geographical area to start with (service providers are brick and mortar)
- Pay someone to build a directory of all local service providers within the immediate targeted region and list;
- Photos
- addresses
- phone #
- directions
- services offered
- price list
- hours
- extra features
- relevant additional info
OK bye! I will report back when the directory is finished or if anything new shows up!
P.S. Any constructive criticism is welcomed.
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