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Project "Build & Exit"

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A detailed account of a Fastlane process...

exon

Contributor
Jun 29, 2009
99
40
Croatia
Three months ago I started to think about the new project that I could later sell (Exit) if successfully executed, and I came up with a niche online marketplace. So, before I start with the execution part here is the master-plan:

1. Build a platform with the targeted audience - platform is built around a premium product that is sold worldwide. And there IS a market. The platform will be a blog/magazine with social media presence.

2. Monetize platform to pay for itself, and the online marketplace - nothing was done so far except thinking and searching. Some dropshipping merchandise was first to come to mind.

3. Launch the marketplace via the platform - If everything goes by the plan (and, it won't), I expect it to be ready for launch in 2 - 3 years from now. I gave myself 4 years for this project. Tested a few ready-made solutions (YoKart etc.) but find that it will be nearly impossible without a custom solution.

4. Sell the business and start a new one.



Done so far:

1. Liquidweb Managed Wordpress hosting/ $99/mo.
Still not completely sure why I chose so expensive hosting.
I'm trying to justify it with "high-quality" as my targeted audience is also "premium."

2. Themeforest Wordpress Theme/ $59
Spent few weeks lurking on ThemeForest and reading reviews till I found something that satisfies my desires.

3. Domain/ $10
I still ask myself why I bought a domain from a different provider (name.com) - as it just made my life more difficult. Of course, good thing is that I've learned something about DNS & Co. in the process.

4. Website customization
Liquidweb managed WordPress and solid and tested Wordpress theme made sure this was a straightforward task. After that, I added content categories, posts with titles and images, and fill it with lorem ipsum text to get a feel how it looks live. I know it doesn't make any sense, but I just love to see that project is going forward :)

5. Tested and ordered a few articles from Fiverr and TextBroker - to find -- cheap good writers :)
And I must say here that Fiverr is a clear winner. For 5 times less money I can outsource the same quality (sometimes even better) content at Fiverr. I also must say that Fiverr is full of carp and scams. So finding good writers is a very time-consuming job. I have spent 3-5 hours a day for a full month only for this part. Right now I have two good content writers who can deliver quality content - for two different categories. Three articles are already published and online. I plan to have at least 30 articles before launch.



Next:

1. Outsource 27 more articles to fill a site with relevant content
2. Create an editorial calendar to be used after launch
3. Create social media accounts and buffer for timed publishing


That's it for now...
 
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