Concept: Creat a site that lists all of the Bar Specials for a specific party University.
Need- people want to know where the party is at. Nowadways people are searching and planning before they go out at night. People now want instant gratification and I believe my site could deliver it.
Entry-Difficult, although the market is not saturated it would require building the site from scratch, going b2b to recruit bars/liqour stores/restaurants. From what I have learned from MJ, is that few people are willing to actually execute and idea and put in all of the work.
Control-I would have full control of this venture. If I can't code something, I will outsource the coding temporarily. Once traffic is driven to this page it will be easy to maintain/modify.
Scale-This university is rather large, and once a template is built it could be easy to duplicate at other schools. I don't really see this as a fastlane site, but more or less a revenue generator/first time project while I finish my degree.
Time-It will require a good amount of time starting up. I don't feel that it would be a heavy amount of coding/keepup once the initial traffic flow is at the site.
Revenue Model-There are two based ideas that I have. 1. make it a subscription based format for bars/restaurants with monthly fee of X dollars (the university I go to has a decent city life atmosphere so this would start to stack up, especially once the other restaurants/bars/liquor stores see it growing.
Marketing- In Internet Marketing I have found that it is best to focus on 1 aspect (Copywriting, Article writing, SEO, Graphics). I am currently studying the art of SEO and making it my passion. I will use SEO to drive traffic to my site. I also have a decent amount of campus presence and plan to market via flyers all over the campus and social networking. (conicidentally I plan on using this for info products as well)
The only question I am trying to figure out is how to start it out. Should I build a WP blog talking about awesome deals/specials going on throughout the city, and fuel this with Adwords, or should I build the site, use some of the top restaurants and basically give them free advertising. Once I can show the owners that I have a strong market share and I am a key asset to their marketing business I can then start charging a monthly fee.
I would really appreciate any critiques toward this business model, as it is my first venture that I want to work towards.
THANKS!!!!
Need- people want to know where the party is at. Nowadways people are searching and planning before they go out at night. People now want instant gratification and I believe my site could deliver it.
Entry-Difficult, although the market is not saturated it would require building the site from scratch, going b2b to recruit bars/liqour stores/restaurants. From what I have learned from MJ, is that few people are willing to actually execute and idea and put in all of the work.
Control-I would have full control of this venture. If I can't code something, I will outsource the coding temporarily. Once traffic is driven to this page it will be easy to maintain/modify.
Scale-This university is rather large, and once a template is built it could be easy to duplicate at other schools. I don't really see this as a fastlane site, but more or less a revenue generator/first time project while I finish my degree.
Time-It will require a good amount of time starting up. I don't feel that it would be a heavy amount of coding/keepup once the initial traffic flow is at the site.
Revenue Model-There are two based ideas that I have. 1. make it a subscription based format for bars/restaurants with monthly fee of X dollars (the university I go to has a decent city life atmosphere so this would start to stack up, especially once the other restaurants/bars/liquor stores see it growing.
Marketing- In Internet Marketing I have found that it is best to focus on 1 aspect (Copywriting, Article writing, SEO, Graphics). I am currently studying the art of SEO and making it my passion. I will use SEO to drive traffic to my site. I also have a decent amount of campus presence and plan to market via flyers all over the campus and social networking. (conicidentally I plan on using this for info products as well)
The only question I am trying to figure out is how to start it out. Should I build a WP blog talking about awesome deals/specials going on throughout the city, and fuel this with Adwords, or should I build the site, use some of the top restaurants and basically give them free advertising. Once I can show the owners that I have a strong market share and I am a key asset to their marketing business I can then start charging a monthly fee.
I would really appreciate any critiques toward this business model, as it is my first venture that I want to work towards.
THANKS!!!!
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