Introduction and My Idea

[FrankFKA]

Hello everyone,
I have been lurking the forums for a while but it's about time I joined the community.

I'm freshly 18, from Vancouver Canada and will be going to University in a few weeks. Have been running an eBay and Amazon business for 7 or so months. It's not where I want it to be but getting there - selling has given me a new business idea (not the one that's going to be discussed) that I hope to capitalise on when I have the right following. I have gotten into buying and selling cars recently also, but purely with the goal of enjoyment as I am a car enthusiast.

Now to the idea:

What it is right now: An idea marketplace for entrepreneurs and small-business owners

What I want it to be: An idea marketplace that encompasses multiple sectors (business, healthcare, etc.). Like a better version of Yahoo Answers, but not really.

Brief Description: Most of us have probably had a viable idea that could be valuable if developed. The majority of people would never capitalise on these ideas, resulting in needless intellectual waste.
Moreover, my idea is also structured as a solutions marketplace, where collective intelligence can be used to solve problems.
My idea would attempt to provide a medium for people to easily exchange these ideas and solutions.

How it works: In my MVP (targeted towards entrepreneurs and small business owners), members would post an inquiry at a specific budget price. Other members would bid on the inquiry. The poster can then select a bidder and accept the bid. The payment is then sent to the primary receiver (Me).
Both the poster and bidder now have access to a workspace, where the inquiry is hopefully solved.
Afterwards, the inquiry would be marked complete. At this point the primary receiver (Me) would send payment to the secondary receiver (bidder) minus the transaction fees.

Monetization: Ideally I would take 15% of each transaction. As the site expands I would offer the option for free postings (if someone just wants to give an idea out for free) and I would also integrate advertising

What I have done: I have built the website using WP and a paid WP theme. I have created a pre-launch page with MailCheat(Chimp) integrated.

Some Issues: The paid WP theme promised PayPal escrow, but now PayPal says that they don't allow escrow for marketplace models. The theme-makers says that they're working on it, but I may need to integrate some sort of digital credit system.
I also have zero experience in launching and UA. I'm not quite sure about how to get users, especially for a marketplace

What I would Appreciate: Some general comments about my business model. Ideas that would increase the value of the marketplace. Any resources that would be helpful. Tips for launching and UA.

Thanks a lot guys.

 

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[GMSI7D]

Hello everyone,
I have been lurking the forums for a while but it's about time I joined the community.

I'm freshly 18, from Vancouver Canada and will be going to University in a few weeks. Have been running an eBay and Amazon business for 7 or so months. It's not where I want it to be but getting there - selling has given me a new business idea (not the one that's going to be discussed) that I hope to capitalise on when I have the right following. I have gotten into buying and selling cars recently also, but purely with the goal of enjoyment as I am a car enthusiast.

Now to the idea:

What it is right now: An idea marketplace for entrepreneurs and small-business owners

What I want it to be: An idea marketplace that encompasses multiple sectors (business, healthcare, etc.). Like a better version of Yahoo Answers, but not really.

Brief Description: Most of us have probably had a viable idea that could be valuable if developed. The majority of people would never capitalise on these ideas, resulting in needless intellectual waste.
Moreover, my idea is also structured as a solutions marketplace, where collective intelligence can be used to solve problems.
My idea would attempt to provide a medium for people to easily exchange these ideas and solutions.

How it works: In my MVP (targeted towards entrepreneurs and small business owners), members would post an inquiry at a specific budget price. Other members would bid on the inquiry. The poster can then select a bidder and accept the bid. The payment is then sent to the primary receiver (Me).
Both the poster and bidder now have access to a workspace, where the inquiry is hopefully solved.
Afterwards, the inquiry would be marked complete. At this point the primary receiver (Me) would send payment to the secondary receiver (bidder) minus the transaction fees.

Monetization: Ideally I would take 15% of each transaction. As the site expands I would offer the option for free postings (if someone just wants to give an idea out for free) and I would also integrate advertising

What I have done: I have built the website using WP and a paid WP theme. I have created a pre-launch page with MailCheat(Chimp) integrated.

Some Issues: The paid WP theme promised PayPal escrow, but now PayPal says that they don't allow escrow for marketplace models. The theme-makers says that they're working on it, but I may need to integrate some sort of digital credit system.
I also have zero experience in launching and UA. I'm not quite sure about how to get users, especially for a marketplace

What I would Appreciate: Some general comments about my business model. Ideas that would increase the value of the marketplace. Any resources that would be helpful. Tips for launching and UA.

Thanks a lot guys.

very impressive for a 18 years old kid.

 

[FrankFKA]

very impressive for a 18 years old kid.

Thank you!

 

[GMSI7D]

you need to test your idea because it doesn't matter whether we think it 's a great idea or not.

only customers can decide whether your idea is right or not by buying what you sell.

so your work is to do some research to see if people are looking for solutions like yours.

 

[FrankFKA]

you need to test your idea because it doesn't matter whether we think it 's a great idea or not.

only customers can decide whether your idea is right or not by buying what you sell.

so your work is to do some research to see if people are looking for solutions like yours.

Part of why I'm asking is that people like you and I are the target audience.
So here's a question, what would make you want to use this platform?
Thanks for the video BTW, it was very helpful.

 

[FrankFKA]

Okay, so just an update.
I'm thinking of going more vertical. I'm not looking for an answer, I know that should be my responsibility, but I'm looking for some input on my current situation.
My site (NOT LIVE!) is thnkvrs.com
I've chosen three verticals to focus on. I need to vet one to launch with:

• Amazon/eBay Selling & Sourcing: Lots of money in this area. Most sellers are making decent money and would like to scale up, meaning they have the funds to pay for ideas and are motivated to expand.
• App Dev/Publishing: Mobile games make a lot of money when done right, and people are aware of that. There are also lots of questions in this specific area, and would give me the head-start into expanding into non-business related areas (coding, graphic design, etc.)
• Brand recognization for social marketers: Overlaps with the previous sourcing idea. With the right marketing there is lots of money to be made. You can turn a $10 watch into a $100 watch with the right following. These entrepreneurs also have a decent sum of money, as they would need to pay for manufacturering and branding costs.

What do you guys think?

 

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