What's the next step after validating my idea?
I have spent a lot of time talking to people in my target market, getting feedback and have done a few surveys. I think I have sufficient interest to start building my online marketplace. What should my next steps be? I have a friend that is a developer and he can help build the marketplace, but should I spend the money to build out the marketplace now or are there other steps I should take first?
Expert Answers
Sort by Date
Sort by Votes
Sep 3, 2015
Well, an important component is missing from my perspective. One is who is your competition? All businesses have either a competitor or a way of doing that you must displace to create opportunity for your market place product or service. Once you know that, does your current research dean the opportunity sufficient to create the niche buiness opportunity to invest in? If so, next is to create a introductory prototype to test the market place.
Sep 3, 2015
If you build a market place, online store, make sure it's mobile friendly! Google won't even serve it on mobile search if not and over 65% of Americans are doing mobile searches these days. Very important. Invest in some really good keyword research because that is what will determine traffic to the site; ease of use of the site etc takes over then. Conversion is all about the website...keywords and I mean good ones used on web 2.0 and 3.0 properties will be the organic driver of traffic to your site. Hope this helps!
Sep 3, 2015
Hi Brett,
Let me congrats you that you have done all. Nothing is left. I must say you to just BRING IT ON.
You just have to keep in mind some precautions to build the marketplace
1- IDEA (its final)
2- Bring on developer. For what you will have to hire developer?
i- Proper website design (according to your niche)
ii- Functional website which helps to engage users.
3- Start marketing plan
4- Be consistent
This is it.
Now allow me to add more lines after this succession. Its all depends on what you have got from your audience. Your idea will clearly define you rather, you are a head to your target audience or your customer are a head to you. This point is crucial. The more strong and reliable idea will, the more a head your customer will.
Someone great said, if you want to go a head to your customers, you should be a great influencer. I always wish you may achieve that level.
Please do not hesitate to share your thoughts. Thanks
~Best of LUCK~
Sep 2, 2015
Speak to your friends and negotiate if any money is needed and how much will it take out of your pockets. There's a slim chance you don't have to invest to grow your idea.
Aug 31, 2015
Hi Brett, After you have validated your idea, the next step would be to try the Lean Startup strategy. This is where you would develop a MVP (minimal viable product) to test in the marketplace. One way of doing that would to try a crowdfunding campaign to test how your target audience reacts to your product idea. Here are links to a couple of blogs that might help you:
http://xlconsultinggroup.com/great-business-idea-try-lean-startup-method/
http://xlconsultinggroup.com/crowdfunding/
Aug 31, 2015
Not sure your exact uniqueness of your marketplace ...e.g. technology advantage or service advantage or feature advantage or client based advantage ...etc. So can't really guess what is the best next step because the online development will be different and the logistic & other infrastructure preparation will be different too.
Maybe you can clarify your position before talking about next step :)
Aug 31, 2015
I agree with some of the other responses in that you should make sure your intellectual property is protected. You may not be entitled to meaningful patent protection, but be sure to check out all of your options with a professional. Failure to protect your IP on the front end may result in a loss of IP and your competitive edge. Best of luck.
Aug 30, 2015
Dear Brett,
"Trick is in doing". So in this fast growing world, Do not depend on sequence order to finish a work, you can start both parallel.
Aug 30, 2015
Implement your idea if you feel it is viable- execution, not ideas is the key.
Aug 30, 2015
Dear Brett,
One question, when you validate your idea do you test the business model ? How will all the chain work together ?
In my opinion, the next step is related with the construction of a Business Model Canvas. This is an important tool for you to see the relationships of your business. Different of a business plan, the canvas it is not a time consuming task and will help you identify missing things at this point.
Now you can move forward and start building your market place. I suggest you to start thinking on a small set of it, as a MVP, go to your contacts in the market in order to get feedback. Consider these opinions to make adjustments.
I wish you luck in your venture.