How can I monetize this business model ?

[Djo]

Hi everyone, hope you're doing great !
I recently, after years of action faking, built a marketplace website that is similar to TaskRabbit, Ebay... The concept doesn't exist where I live. The only problem is that payment online also doesn't exist here, therefore the way this business model works doesn't make any sense in this country, because these websites just take a percentage of the pay the workers get. However, I've seen marketplace websites here that are very successful and generate some serious returns. Their business model is based on visibility options and ads. I want to ask, from your experiences, if this business model will generate income in the first year of the website's foundation, or should I expect years until my users base grow and start monetizing ?
Thank you a lot for reading !

 

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[Vasudev Soni]

I created something similar in India recently.
Here is something that might be useful to you:

• You won't be able to generate enough revenue until you have a large user base. I am talking about 50,000 - 100,000 monthly active users at least.
• You will need to put in a lot of money initially in advertising and marketing otherwise people won't use your app/website because if there will be fewer users, then the sellers will not be able to sell their products, and the buyers will not be able to find enough sellers for their products. It's somewhat similar to the chicken-egg problem.

 

[Djo]

I created something similar in India recently.
Here is something that might be useful to you:

• You won't be able to generate enough revenue until you have a large user base. I am talking about 50,000 - 100,000 monthly active users at least.
• You will need to put in a lot of money initially in advertising and marketing otherwise people won't use your app/website because if there will be fewer users, then the sellers will not be able to sell their products, and the buyers will not be able to find enough sellers for their products. It's somewhat similar to the chicken-egg problem.

I honestly think in this case that it is not really worth pursuing. I'm going to be burning cash on advertising but there are no returns since the website is not monetized, and I have no idea when I will make the first dollar from it also. I think that the website is absolutely providing value for others but there are no returns for me. I don't know if this is the case for you or not, but yeah if you have more insights please share them with me !

 

[Vasudev Soni]

I honestly think in this case that it is not really worth pursuing. I'm going to be burning cash on advertising but there are no returns since the website is not monetized, and I have no idea when I will make the first dollar from it also. I think that the website is absolutely providing value for others but there are no returns for me. I don't know if this is the case for you or not, but yeah if you have more insights please share them with me !

It's definitely the case for me as well.

 

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