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/// UPDATE (June 11th, 2012) : WOOW
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I have to post this update: today was published the interview I mentioned in my last update (read it here: http://t.co/3v8nCi5y) and am having outstanding results!
556 unique visitors and 20 requests on just a couple of hours!
PARKED
PARKED
300 kph
Excelente artículo. Felicitaciones!Originally Posted by tincho1492
Hopefully this will help you get more providers interested in the idea.
I need to make a video like yours... will probably look on fiverr as well.
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/// UPDATE (July 1st, 2012) : FUNDING
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So far I'm a bit stuck with the project because some freelance projects have been arriving and this money will help me to fund the business.
One thing that I'm going to do is to launch a local business to offer:
* Web design services
* Computer courses
Initially the courses will be the main income stream because there is no institution that teaches what I want to teach (web development + freelancing and basic Internet use) so is a good opportunity. The Education and Culture office will approve this courses so people can receive a certificate.
My idea is to give the first classes on customers' houses so they can have all software needed and then record videos.
Apart from that, will launch a local website that features retailers products (charging a monthly subscription) so that will be a third income.
The development course will last around 6 months and the Internet course, 2 months (maybe 3). Once the Internet course finish I could start again, but to not rely on that I will launch the local website. This income won't replace the Internet course (I'm living on a tiny town of ~20k people) and to do that I have to replicate the model on around 5 near towns.
And here is where I need your opinion:
Replicating the model means traveling a lot and maintaining the websites, so I'm thinking of hiring someone that could assist me on this. I could train her/him to update the websites, go to each town and get new customers and traveling monthly to get the payments (we're not talking here about online payments because that thing doesn't exist... yet... I want to launch a product that finally develops the ecommerce on my country, but that will be after I stablish my business).
So do you think that this is a good move? Hiring this person could help me to replace the teaching income, but more importantly to maintain it for longer. The income from the 6 local websites will pay the salary and replace one income.
Also this person will let me work on getting web design projects and market my main Fastlane product (two more income streams once I have a strong brand).
The local websites will also allow me to advertise my services and my main product, so I think that is a win-win because will help me to expand my brand faster and conquer most small towns, considering that this is a new niche and there is almost no competence.
NOTE: I'll have a base salary and my profits will fund my money system account, so while the business grows it does my Fastlane too.
I'm very excited with this. Is very clear to me, but your external point of view could help me to view things differently. Thank you!
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/// UPDATE (July 10th, 2012): DREAM CAME A REALITY
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Very, very excited! One of my dreams since I'm 15 was to have my own office. I thought it could be pretty cool to have one, and today it is a reality: rented a studio on my town.
It feels extremely well when you reach your goals, and that makes you feel that you can achieve anything. It's awesome.
So now I'll be able to teach Web Development on my office and make a contribution by helping to develop the IT industry in my town. Will do everything possible to make it happen and help other people to work in this field.
Will work on my Fastlane as much as possible (the course will only be 2 days a week) and am sure that this is the start of something bigger.
Looking for ideas to decorate my office...
155 kph
Definitely get one of those as soon as you have an employee with you in the office
ThinkGeek :: USB Rocket Launcher
And heres some inspiration for really cool office design: The Cool Hunter - Welcome
155 kph
PARKED
Tincho, congratulations on your business.... keep going..////////////////////////////////////////
So now I'll be able to teach Web Development on my office and make a contribution by helping to develop the IT industry in my town. Will do everything possible to make it happen and help other people to work in this field.
One suggestion on your teaching: Record your lessons... selling your videos can become a fastlane business... I guess many of them in the market today are in english... so in spanish can give you an edge!
Best!
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/// UPDATE (Octobre 5th, 2012): IF IT ISN'T A HIT, SWITCH
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Like that phrase from CD-Baby founder (I think). So I've been interviewing people and asking questions about how they are currently solving the problem I want to solve.
Basically the problem has a lot of legs, and trying to solve all of them with the same approach is not smart. So I'm going to focus on some niches, and create different sites for each one.
The first site I will start is an e-store, been doing some research and I believe is the best idea to pursue right now.
Today read the whole Bio's thread and extracted incredible information. The next steps will involve more research to get ideas of the best products I should sell. Then figuring out how to import, etc.
Back to work!
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/// UPDATE (Octobre 6th, 2012): BRAINSTORMING AGAIN
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Yesterday read the whole Biophase's thread, today Vigilante's. Thank you guys!!
I've been researching and the local monthly searches for my niche (party dresses) are around 6.6k, which I think it's good enough to start.
Good things:
* Very low competition (there is only one full ecommerce site for women but they don't have what I'm planning to sell)
* Nice amount of local searches
Roadblocks:
* I'm not sure if this is one, but a gal has a FB page where she sells these products, she has no inventory: takes the orders, receives 50% of the money and then make the purchase from Alibaba, or similar suppliers (I know this because one of the product shots has the supplier name watermark). In some way I can confirm the need, and even the prices I was thinking of: she sells them for around a 40-50% profit. But my idea is to deliver within 2 days, she delivers within 40!
* I believe that lots of the searches could be people looking for inspiration and not for buy.
My idea is to create a brand, buy some tests, but I should research a lot more to get difficult-to-get suppliers/designs, so this can put me in a better place to compete.
I think that some suppliers will create a custom product based only on a shot, so maybe this could be another way of differentiating myself.
I've been also thinking of making this niche more focused: party dresses for chubby girls. Monthly searches are not that good, around 700, but IMO this term has more buying potential, which could have a greater conversion. Just brainstorming...
Would like your input guys. Vigilante maybe?...
300 kph
"I have studied the enemy all my life. I have read the memoirs of his generals and his leaders. I have even read his philosophers and listened to his music. I have studied in detail the account of every damned one of his battles. I know exactly how he will react under any given set of circumstances. And he hasnt the slightest idea of what Im going to do. So when the time comes Im going to whip the hell out of him." - General Patton
1. You can beat the competitor through execution and a real web presence. Almost 0 commerce is done through Facebook. My only concern there is her cutting price (as she has no inventory --- she has no skin in the game).
2. There's no excuse for watermarked photos. Even factories will send you clean photos once you are their customer.
3. OK to focus on a niche, but don't limit your market if possible. Remember scale and mass is ultimately what you are after. There's nothing keeping you from owning the market for "plus sized" women, but keep your market potential larger than that.
4. Eventually, your designs can be "exclusive" simply by finding manufacturers that have zero market presence and doing deals with them to distribute their products. If you can bring a market to a manufacturer, that manufacturer has no reason to not work with you. Eventually, you want to sell items that you have zero competitors on. The only way to control the market completely is to eliminate all competitors on identical items.
Good luck! You are on the start of a great journey, and you will learn a ton. Study, study, study and test, test, test.
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