Hey All!
I was just recommended to this forum earlier this morning and decided to check it out, excited to see if it’s as awesome as it looks. I come from a background in business lending, where I built out revenue modeling for businesses nationwide, basically a “Zillow for businesses.” It turned out to be a powerful input for marketing, underwriting, and fraud detection. But I was always feeling like there was a lot more we could do with that capabilities rather than just marginal improvements to our lending portfolio.
A few months ago, I decided to launch my own business based on those same capabilities. But instead of focusing on lending, I’m now helping new and growing businesses do market research with a twist. I analyze the actual revenue performance of similar businesses in a market/industry to assess whether that market is truly healthy and can support a new entrant. For example, I live in Austin, Texas which is a place that looks great on paper for pet care businesses (high income, lots of pet owners, solid support ecosystem). But when you add in revenue-based insights, the story changes: there are already too many businesses in the same niche, making it more competitive and less ideal that other places where the demographics may be less favorable, but the competition is much more modest.
I’m still in the early stages, so I’d love to hear how others here have approached market and competitor research. I’ve already heard some wild stories (my favorite was someone opening a hair salon who got their hair done at every salon in town over a month), but I’m always looking to learn more so I can refine my product and better serve future entrepreneurs.
Looking forward to connecting!
I was just recommended to this forum earlier this morning and decided to check it out, excited to see if it’s as awesome as it looks. I come from a background in business lending, where I built out revenue modeling for businesses nationwide, basically a “Zillow for businesses.” It turned out to be a powerful input for marketing, underwriting, and fraud detection. But I was always feeling like there was a lot more we could do with that capabilities rather than just marginal improvements to our lending portfolio.
A few months ago, I decided to launch my own business based on those same capabilities. But instead of focusing on lending, I’m now helping new and growing businesses do market research with a twist. I analyze the actual revenue performance of similar businesses in a market/industry to assess whether that market is truly healthy and can support a new entrant. For example, I live in Austin, Texas which is a place that looks great on paper for pet care businesses (high income, lots of pet owners, solid support ecosystem). But when you add in revenue-based insights, the story changes: there are already too many businesses in the same niche, making it more competitive and less ideal that other places where the demographics may be less favorable, but the competition is much more modest.
I’m still in the early stages, so I’d love to hear how others here have approached market and competitor research. I’ve already heard some wild stories (my favorite was someone opening a hair salon who got their hair done at every salon in town over a month), but I’m always looking to learn more so I can refine my product and better serve future entrepreneurs.
Looking forward to connecting!
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