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MJ DeMarco
I followed the science; all I found was money.
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This is an excellent question.
What you're describing is a 2-sided market, and yes, they are very difficult to start because it requires 2 sides for transactions, if one side is missing, the whole thing falls a part.
I wouldn't say faking, but if you can (depends on industry) you can grab public information and use that on the sell side. I remember doing that. If I had one city misrepresented, I just searched for companies and put them into the system. Naturally these companies wouldn't object as they'd get free business from me.
I focused on the sellers first (the pay side) as I felt once I acquired those folks, I could start hitting the other side. I'm guessing, regardless of industry, you will need to incentivize one side of the market.
If you can start one of these 2-sided marketplaces, kudos to you. They have significant entry barriers if you succeed and looking back, it was probably the hardest aspect of my business. Which later became an asset (entry barrier).
What you're describing is a 2-sided market, and yes, they are very difficult to start because it requires 2 sides for transactions, if one side is missing, the whole thing falls a part.
So you go about it by faking one side?
I wouldn't say faking, but if you can (depends on industry) you can grab public information and use that on the sell side. I remember doing that. If I had one city misrepresented, I just searched for companies and put them into the system. Naturally these companies wouldn't object as they'd get free business from me.
I focused on the sellers first (the pay side) as I felt once I acquired those folks, I could start hitting the other side. I'm guessing, regardless of industry, you will need to incentivize one side of the market.
If you can start one of these 2-sided marketplaces, kudos to you. They have significant entry barriers if you succeed and looking back, it was probably the hardest aspect of my business. Which later became an asset (entry barrier).
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