G
GuestUser4aMPs1
Guest
After selling my first Productized Service (PS) company ~2 years ago,
I've finally come across a new problem important enough to tackle.
Since this is public, I'll speak in metaphors to detail the process and strategy for others to learn from. What this business IS isn't important. What's important is how YOU can learn from it. This will also be retroactive. Copycats: Don't Try to Outrun/Outgun Me. You Will Lose.
With that out of the way, here's what you need to know:
— I first became aware of this problem in 2018, when running my last business.
— This is a STRONG Need with a VERY large addressable market. Almost everyone has had this problem.
— The "Solution" is common in "Market A" (Limited Market), but NON EXISTENT in "Market B" (Huge Market).
— Since I'm in "Market B," I've used "Market A's" Solution with great success. Not once, but multiple times.
Through my research, it still baffles me that something like this doesn't exist prominently.
Since I'd easily pay for this myself and have seen the results of this solution, it's a no-brainer to offer it to others in Market B.
What's the (Rough) Plan?
— MVP Creation & Prospect for First Clients (Month 1-2)
— Adjust & Systematize Offer based on Feedback (Month 3)
— Vet Service Providers from Market A who can serve Market B, and Partner (Month 4-5)
— Engage Agencies to Scale with our Service Provider's Backing (Month 6+)
— Exit Timing & FU Number TBD
What Resources Do I Have?
This second rodeo will be very interesting. This time around, I'll have...
— 5+ years of Entrepreneurial Experience + Post-Mortem Lessons to take into this business.
— An exit path through the Private Equity Fund I'm working for @ the day job.
— Access to Growth Capital when it makes sense (Again, connections built from M&A / PE).
— Lots of Established Service Providers in Market A who can partner for Time+Scale Freedom.
What's the Challenges?
Only thing I can think of for now is Market B won't know Market A's solution can help them (Education Gap). So, it may even take longer to establish more credibility beyond my own case study.
It's good to be thinking big again a la @Kak.
Missed the entrepreneurial game.
Wish Me Luck!
I've finally come across a new problem important enough to tackle.
Since this is public, I'll speak in metaphors to detail the process and strategy for others to learn from. What this business IS isn't important. What's important is how YOU can learn from it. This will also be retroactive. Copycats: Don't Try to Outrun/Outgun Me. You Will Lose.
With that out of the way, here's what you need to know:
— I first became aware of this problem in 2018, when running my last business.
— This is a STRONG Need with a VERY large addressable market. Almost everyone has had this problem.
— The "Solution" is common in "Market A" (Limited Market), but NON EXISTENT in "Market B" (Huge Market).
— Since I'm in "Market B," I've used "Market A's" Solution with great success. Not once, but multiple times.
Through my research, it still baffles me that something like this doesn't exist prominently.
Since I'd easily pay for this myself and have seen the results of this solution, it's a no-brainer to offer it to others in Market B.
What's the (Rough) Plan?
— MVP Creation & Prospect for First Clients (Month 1-2)
— Adjust & Systematize Offer based on Feedback (Month 3)
— Vet Service Providers from Market A who can serve Market B, and Partner (Month 4-5)
— Engage Agencies to Scale with our Service Provider's Backing (Month 6+)
— Exit Timing & FU Number TBD
What Resources Do I Have?
This second rodeo will be very interesting. This time around, I'll have...
— 5+ years of Entrepreneurial Experience + Post-Mortem Lessons to take into this business.
— An exit path through the Private Equity Fund I'm working for @ the day job.
— Access to Growth Capital when it makes sense (Again, connections built from M&A / PE).
— Lots of Established Service Providers in Market A who can partner for Time+Scale Freedom.
What's the Challenges?
Only thing I can think of for now is Market B won't know Market A's solution can help them (Education Gap). So, it may even take longer to establish more credibility beyond my own case study.
It's good to be thinking big again a la @Kak.
Missed the entrepreneurial game.
Wish Me Luck!
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