Aspiring entrepreneurs frequently approach me as an angel investor, touting their revolutionary concept for still another online site that is dating. We agree the necessity is offered, with more than 91 million interested singles between the chronilogical age of 19 and 45 around the globe. Yet very little one out of ecommerce makes hardly any money, because it is sold with a bigger listing of challenges than almost every other possibilities I see.
Therefore, we encourage one to evaluate these challenges as truth checks for your own personel company concept — dating or perhaps — before spending all your valuable some time somebody else’s money in vain.
1. The marketplace is oversaturated with rivals.
Based on statistics, there are many more than 5,000 sites that are dating with 1,000 brand new people showing up each year. I suggest you look for another opportunity where the number of competitors you can find is less than 10 if you check your market on Google and find numbers like these.
2. This company is affected with the ‘Facebook model’ startup issue.
Many work at home opportunities, like that one, require thousands or scores of current users before brand new users and advertisers want to pay for a real income. Hence, the investment in money and time required before payback is huge. Facebook invested $150 million before good cashflow.
3. Obstacles to entry are tough to establish.
For a fresh startup, the way that is best in order to guarantee success would be to register patents or any other intellectual home to help keep future rivals from copying your success. Dating just isn’t a process that is highly scientific therefore the first-mover benefit was already taken. Look at this challenge for the idea that is best.
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