Aspiring entrepreneurs frequently approach me personally being an angel investor, touting their revolutionary concept for still another online dating site. We agree the necessity is offered, with more than 91 million singles that are interested the chronilogical age of 19 and 45 across the world. Yet very little one in ecommerce makes anything, as it is sold with a bigger directory of challenges than other opportunities we see.
Hence, we encourage one to examine these challenges as reality checks on your own company concept — dating or perhaps — before spending your entire some time somebody money that is else’s vain.
1. The marketplace has already been oversaturated with rivals.
Based on data, there are many more than 5,000 sites that are dating with 1,000 new people showing up each year. In the event that you check your market on Bing and locate figures like these, it is advisable to search for another opportunity in which the amount of rivals you will find is significantly less than 10.
2. This company is suffering from the ‘Facebook model’ startup issue.
Numerous online business offerings, like this 1, require thousands or scores of current users before new users and advertisers want to cover a real income. Hence, the investment in money and time needed before payback is huge. Facebook invested $150 million before good income.
3. Obstacles to entry are hard to establish.
For an innovative new startup, the way that is best in order to guarantee success would be to file patents or other intellectual home to help keep future rivals from copying your success. Dating is certainly not a process that is highly scientific as well as the first-mover benefit had been taken. Continue reading “8 Reasons Online Dating Services Are A Definite Business Dead End”