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- Oct 28, 2020
- 30
- 5
I want to discribe an business story that does not take off in part of beeing successful:
The guy (who studied IT and is a professional operas singer) wanted to follow his passion and invented an webapplication where musicans from all over the world can improve their singing skills buy watching instructional videos with experts while singing. It is done simultanously with a guy who conducts while singing. His project was even sponsored by the EU with 100.000 €, so the guy could programm it with another guy without investing money. His conductors are highly skilled people that got a lot of prizes. His webplattform was voted 2012 with even with an innovation award. So far it looks all fine. Musicans (mainly classic singers, like opera singers) can buy a membership for around 40 €/ year and buy some upgrades so that the average user pays him 50€/ year. But even though his plattform is online and he follows all rules by CENTS his business does not want to take off. His yearly revenue is just 5000€/year that are 100 users/year.
He follows all rules by CENTS and so it should be successful, i just think the only reason it has attracted just 100 paying users per year is because his business is in a special niche so that not so many users pay the service.
I would love to give him further advice and hope you can give some tips what is going wrong with his business!
Thx in advance for any advice you can give.
The guy (who studied IT and is a professional operas singer) wanted to follow his passion and invented an webapplication where musicans from all over the world can improve their singing skills buy watching instructional videos with experts while singing. It is done simultanously with a guy who conducts while singing. His project was even sponsored by the EU with 100.000 €, so the guy could programm it with another guy without investing money. His conductors are highly skilled people that got a lot of prizes. His webplattform was voted 2012 with even with an innovation award. So far it looks all fine. Musicans (mainly classic singers, like opera singers) can buy a membership for around 40 €/ year and buy some upgrades so that the average user pays him 50€/ year. But even though his plattform is online and he follows all rules by CENTS his business does not want to take off. His yearly revenue is just 5000€/year that are 100 users/year.
He follows all rules by CENTS and so it should be successful, i just think the only reason it has attracted just 100 paying users per year is because his business is in a special niche so that not so many users pay the service.
I would love to give him further advice and hope you can give some tips what is going wrong with his business!
Thx in advance for any advice you can give.
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