Launching a Marketplace Business

In launching your marketplace consider starting with a niche.

Focus on what your team does best.

Choose a niche in the sector that you can easily gain access to the supply side.

This could be either by geography or by service offering.

Offer above-average service to launch the marketplace. 

As Paul Graham wrote, in the early days you must do things that don’t scale.

Even though the niche may not be a large market, you can expand to other niches later.

Amazon began by selling books online but later expanded into other areas.

Pick one or two methods for generating supply.

This could be direct sales, referral partners, word of mouth fostered by social media, value-add products for the supply side, or events.

Once the supply side is in place you can drive demand through marketing, SEO, direct sales, and events.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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