Hack For A Startup Idea That Works

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Mar 21, 2018
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#1
We are seeing a trend in startup ideas that are connecting 2 different parties together nowadays.



Uber: Connect drivers to riders.

Airbnb: Connect homeowners to people looking for a place to stay.

GoGet: Connect people who are out and about to people who want to get stuff or send stuff around.

HelloFresh: Connect homeowners with people who are willing to buy them groceries.

The concept is a two-sided market, one side provides a service the other side demands.

You are the platform that connects the two and make a cut out of all the sales.

Everyone wins.

One of the trickiest parts about this model?

The chicken and egg problem — which side of the market do you go after first? the supply or the demand?

Most people will say the demand, no demand means no money and no money means no business.

The problem with that is, say you have demand but not enough supply? demand will die out.

Now if you go the other way around and get the suppliers first, grow a community of them by providing them a different kind of value like content then you can go and get the demand which will be happily supplied to.

When you do that you will face another challenge, your supply and demand might be all over the world — if you get more supply in USA but you have more demand in Germany, you might have a problem.

Which is why you want to start small and focus your efforts into single locations first, grow and dominate the market there then move to the next location.

All the best
 

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