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Thread: Fastlane Potenial plan Nead advice?

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    kahem89 is offline
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    Default Fastlane Potenial plan Nead advice?

    Hello Fastlaners, I am about to spur into action but i need a second opinion. My idea is a classified ad page for job ads.

    Where I am from there's 1 big competitor, and hes well known. But there's none else worth mentioning. This might sound like a me too business.. Theres also allot of other pages when i do a google search for jobs. Regardless of this, the biggest competitor is charging a huge chunk of money because they have branded well. But ive been talking to Recruiters and business owners that think the price is to high, (kinda like mjs customers was resentful to the yellow pages)

    My plan to make this work is to make a simple classified job page and build it from there with seo and learn coding. What im thinking of doing different from the biggest competitor is Blasting all my money on Advertising to brand the name in peoples mind like hell. and steal users from them. Also charge lesser pr ad, and so on. They also have profits of 320 mill NOK in 2010 and 160 mill NOK in employer cost. I think i can fight with them because their way to comfortable. 5-6mill = 1mill USD dollar.


    Now there is one more issue thought. The competitor also have classified ads for regular stuff like "ebay" and for used cars, houses and basically everything. But there main source of income is from job ads. I dunno if this should concern me.

    Well this was a brief explanation, I haven't been my self lately im constantly thinking about getting an idea so i can start WORKING. But it has been hard, so I want your 2 cents on this idea before i go insane

    Cheers

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    s_sherrell is offline
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    I have read your OP a couple times to try to figure out what you are asking. You are only doing this regionally and thus one main competitor?
    How many recruiters and biz owners did you actually survey? What would concern me is that they said price of other was too high. You really don't want to have lower prices be your brand. What can you do better and if you did those same complainers would pay you twice as much? That is how I would loook at it. You are going to do all the same work, so provide better for a premium.
    Why would you want to learn coding and seo? I think people who do that need to read E-myth and relate it to online business. Working on that stuff is not being an entrepreneur in any way. You can hire that out for cheap and focus on more important things.
    Lastly do not do any 'blasting' of money on ads until you have this thing locked in. Scale it up as you go. You need to know how much ROI you get from a $20 ad buy before you go out and spend $2000. Don't confuse action with success. Best to you.
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    kahem89 is offline
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    Im not a native English speaker so sorry for the bad formulating.

    The main competitor is charging 2000 dollars for a job add to give you the picture. I have worked in sales for a long time, and have some guys i know working as recruitment agents, sales managers, all hiring people. they say that its costly but people use the site. I'm thinking of charging around 100- 400 dollar pr add. First 100-1000 adds free to give the impression of a well used site.

    Start strategy is to take as little as 5% of their market share.I Don`t think i need a ton of traffic to do that. Save up all the cash from that and start advertising on TV. which is expensive, but a web page is realy just a brand after all. But you might be right that the undercutting strategy is a loosing one. But i also suspect business owners to wanne save as much as possible, as long as it gives them "something back" ( worked in b2b sales, that's my experience. )

    As far as better service im pretty blank. I could do something like you only pay if you hire the right person, but then i would become a recruitment agency ( headhunter) and that's a flooded market.

    ( About the E-myth your probably right, i found a add software for around 500 dollars which was all i really needed Page wise to get started.)

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    kahem89 is offline
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    Oh and Sherell thanks for the replay, im an impatient little basterd i guess. Back to the drawing board Time to focus more on the need part, so easy to focus on the Cash.

    Whats the E myth thing anyways a book? I really cant stand coding but there sure is allot of opportunities on the net!

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