Grow Your Company, Not Your Inbox
Aspiring entrepreneurs frequently approach me personally as an angel investor, touting their revolutionary concept for still another online site that is dating. I agree the requirement exists, with more than 91 million singles that are interested the chronilogical age of 19 and 45 throughout the world. Yet very little one out of ecommerce makes anything, I see since it comes with a larger list of challenges than most other opportunities.
Therefore, we encourage you to definitely evaluate these challenges as truth checks on your own company concept — dating or elsewhere — before spending all your valuable some time some body money that is else’s vain.
1. Industry is oversaturated with rivals.
In accordance with data, there are many more than 5,000 online dating sites global with 1,000 brand brand brand brand new people showing up on a yearly basis. 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 suffering from the ‘Facebook model’ startup issue.
Numerous work at home opportunities, like this 1, require thousands or scores of current users before brand brand brand new users and advertisers want to pay for money that is real. Therefore, the investment in money and time needed before payback is huge. Facebook invested $150 million before good income.
3. Obstacles to entry are tough to establish.
For a brand new startup, the simplest way in order to guarantee success would be to register patents or other intellectual home to help keep future rivals from copying your success.