donofrip
The fundamental question for a venture is: Why are we doing what we are doing? Expressed market demand. We can make money providing the supply for that demand.
Interestingly, "why" is also where all "how" questions eventually lead when you dig deep enough. How are we going to provide a solution? Through a mobile application. Why a mobile app?
If you are not asking a why question, you haven't thought enough about a particular topic. And if you think long enough, all your "why" questions should eventually lead back to the fundamental answer, "because there is demand for this".
I don't know how many people would pay for/donate to something they're getting for free.
Something about not buying a cow when you're getting milk for free comes to mind...
I'm partial to the idea of an open chat room with users providing insight (a wiki-sort of solution). We use this in internal chat channels at my bank. It is helpful because you can pose a question (ex. how can I do X in excel) to a "room" full of experts in the particular subject (ex. an excel specific chat).
Love to hear other ideas.
Ask HN: How to find market/industry data?
Hey all,I'm looking to find some market/industry statistics to build the story around my venture. I have a lot of anecdotal evidence (personally and through conversations with individuals) to support my story, but I know hard data is king.I'm looking for info related to the social network and online dating markets. Where are some good places to look for this kind of stuff? I'm not looking to...
Makes sense to me that they need to diversify their model to compete with some of the new ventures in the market. It might make more sense of Yelp to acquire the platform and the product knowledge than build it in-house. If they have equity in the market, it might be easier to acquire these companies with stock than through a private cash acquisition.
Not sure if that's true, but I'm throwing it out there for debate.
I doubt FB would setup a call center--imagine the call volume! That said, maybe an online chat with a support person? Or an open chat forum to ask questions to other users with a few FB specialist who are also available?
Maybe they already have this... I have no idea.
Also, it will be a bit of a pain if I need to update it each time something is sold.
Things I would consider adding: 1) ability to pay for the item directly on the site (you could partner with paypal on this, or offer the merchant service directly for a cost to the website user)
2) waiting list for people interested in the objects.
General issue I see with this: can you get people to pay for this when they have a free option? If you're going to offer it free, can you generate enough page views on individual sites to validate ad revenue?
Sorry... just my opinion.
Living farther out isn't that bad if you manage to find a spot near an express line. I'm sure you're friend in NYC will know the tricks.
Good Luck!
1) I'm not sure this is a scalable idea. 2) Isn't this what Craigslist does?
I live in NYC, and you will be surprised at how expensive it is. Take a look at some of the surrounding areas. Around Hoboken (as Hoboken itself has gotten expensive), parts of Queens and parts of Brooklyn are all relatively cheap. You can find parts of Harlem that aren't too bad, and if you're willing to go very north on the island, there are actual houses that are pretty cheap once you get above Harlem. I would definitely suggest living together if you don't think that social issues will be a problem (which would be a bad sign for your startup regardless). I think getting yourself a little farther away from Manhattan might also help keep some of the social distractions from popping up--it can be tough to code late into the night when you see/hear people out and about having a good time.
That's just my opinion and how I would approach the subject... I'm sure people will have different suggestions.
ZangZing Unveils Group Photo-Sharing for People Who Don’t Like Photo-Sharing
The first chapter regarding PayPal discusses how the company was initially founded on the concept of being able to use your Palm Pilot to pay for lunch. Actually, it initially was a security company that focused on protecting your mobile electronic device. Once it was "protected" they realized you could store money on your mobile device. Eventually they realized that at the time the online electronic payments market was much larger than that for mobile device electronic payments.
Interesting to think PayPal may have been decades ahead on this.
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For $1,000, Site Lets Celebrities Say It Ain’t So
If you have the chance I would suggest taking a look at chapter 3 which discusses Steve Wozniak's early days with Apple. He talks about his hesitation to leave HP where he was an engineer. At the same time, Jobs was pushing him to come over and work on their new venture full time. It wasn't until Wozniak realized (through a conversation with a friend) that he could move to Apple and continue to be an engineer did he agree to make the move. In the end, Woz knew he loved being an engineer, and he didn't think that the time and effort it would take to run/manage a company was something he would enjoy (in fact, he knew he would not like it).
It sounds like you love learning new programming languages, something that is not afforded you in your current venture's structure. Maybe you should consider bringing in a partner to help you manage the business while focus on programming. Or maybe you should hire a programmer to handle the routine stuff for your site. Either option could free-up a considerable amount of time that would allow you to again spend some time each week learning something new.
I'm not sure if that is an option, but it is something to work towards maybe.
I'm working through my network to find a programmer that I would be comfortable partnering with on a startup. Am I going to be insulting him/her if I can't pay them? I would expect to split the company with him or her if he/she agreed to team up.
Do you think having applied previously was a positive or a negative for you? Do you think it matters that these applications were for different ideas? I'm just trying to figure out when I should apply--if it is better to wait and develop something fully functional before applying or applying now with the caveat that I need the funding to help develop the idea.
I am planning to apply with a technical co-founder, but I have concerns about how we could effectively develop our product without some substantial financial backing. I don't want to put something out there half-assed and have it fail because we didn't have the right tools, only to then have someone with the resources to execute steal the idea.
The Easiest Way to Succeed as an Entrepreneur
I'm not sure it makes a difference whether the initial idea comes from a designer or a hacker or a business person. I think that to deliver successfully, a company eventually needs all three, but the initial idea is just an idea. I see no reason why hackers would be favored over designers or anyone else. I think a fund to help designers fund their ideas is a great thing.
They are going to need tools to make sense of the information they have. They have very detailed information on their phone users, but they'll have to think through how they can monetize the information legally. Could we see these companies developing the ability to say, "the user of the cell phone X, who is a 14 year-old girl, spent 2 hours in this store on this day". That data on an aggregate basis could be very valuable to companies--companies that would be willing to pay for this kind of insight. "We noticed a spike in teenage girls visiting your stores in the northeast within a day after launching your ad campaign. It didn't have as large of a spike in this region of the country however." I think investors would be willing to buy this kind of information too. Imagine the edge a hedge fund would have if they had this sort of insight into consumer trends.
I suspect there will be a huge need for tools to analyze and make sense of the data that this new market will demand. I'm sure there are already some startups headed down this path, and I'm sure large communication companies would rather use a vendor for this data analysis than learn to do it themselves.
I think this is definitely the edge of a huge new market.
I couldn't agree more about the need to shift from a "if we build it, they will come mentality" to one of entrepreneurship in how we help developing countries and populations. I'm actively involved in the founding of an organization that focuses on financial literacy and business education for grade school children in developing countries and struggling US schools. We hope that by teaching children "to fish" rather than handing them food stamps, cash, and other subsidies, we can begin to develop communities that are self-sufficient. A little innovation can go a long way in these communities. I'll try to post a link to our website once we have it up and running... hopefully next week.
The key takeaway here is know your user.
Depending on what you're developing, a business side perspective could be invaluable. The financial services industry is full of inefficiency, as an example to illustrate my point. I worked in equity research for a while and we published reports that were simply pdfs of excel files (there are some publishing tools out there like bluematrix). There are huge opportunities here for a better publishing platform that is easy to use for someone who is not technologically savvy (like research analysts). Having someone with the insight into the industry could be very useful and would help a developer identify and focus on developing and designing functions that would be useful to the client. I'm sure more than one developer has wasted time developing something only to get FEEDBACK (also know as perspective) from the client (often business related when not a developer end-product) that the functionality doesn't match what they need or expect.
I just cannot agree with your point of view here. In my opinion, ideas and perspective are important, but then again, I am new to this. Can someone explain to me why execution should be held above all else?