This is a bit of a braindump about a new project I've recently begun, and I feel I need to start writing a few things down - and soon that will be specific goals and targets but not just yet. I'd really appreciate any thoughts or feedback on the concept in the meantime. I will add more specific details a little later as time and mental clarity allows, hehe 
A friend and I are embarking on a project to fill what we perceive as a need in the local entertainment & tourism industries here in Auckland, NZ. We've done some statistical research, and between the 1.5 million residents, 1.6million annual international tourists and 500,000 annual domestic tourists, there's a fairly large potential audience - and of course, the platform could be extended to other cities (or countries) once proven.
We're looking at a hybrid model that includes lead generation (for hotels, rental cars, tour companies etc), general advertising (banners, adwords, whatever), a searchable directory (which businesses can subscribe to to get a "premium" listing with several benefits), and a mobile app (for iOS and Android - which can be purchased for a nominal fee) to ensure you're never without information on the area.
Based on the few similar sites existing in this market (though both have restricted themselves to fewer services & interest areas than we plan to) we would anticipate initially being able to capture around 2k visitors a day (which is approximately 2% of the potential audience) and appeal to around 120 (1%) of the potential businesses who we could promote. Of course, growing both these values over time is doable, and our research suggests the current upper limits on both these numbers in the region would be about 95k visitors a day, and around 12,200 businesses.
Of course, 100% market share is unlikely - though I don't believe anything is impossible - but even at 2%/1% rates we would expect the site to be generating a moderate income with minimal time input required from us once the platform is complete.
I guess I'm just still struggling with some mental issues in regards to truly believing in myself to achieve something like this. I'm constantly sure I'm overlooking some Major Flaw, or that I will Stuff It Up, or something.. I'm certainly in a much better headspace than previously, but it's still a struggle.
Anyway, if you have read this far - thank you so much for your time, it is really appreciated. I feel a lot clearer actually having simply typed this out!
A friend and I are embarking on a project to fill what we perceive as a need in the local entertainment & tourism industries here in Auckland, NZ. We've done some statistical research, and between the 1.5 million residents, 1.6million annual international tourists and 500,000 annual domestic tourists, there's a fairly large potential audience - and of course, the platform could be extended to other cities (or countries) once proven.
We're looking at a hybrid model that includes lead generation (for hotels, rental cars, tour companies etc), general advertising (banners, adwords, whatever), a searchable directory (which businesses can subscribe to to get a "premium" listing with several benefits), and a mobile app (for iOS and Android - which can be purchased for a nominal fee) to ensure you're never without information on the area.
Based on the few similar sites existing in this market (though both have restricted themselves to fewer services & interest areas than we plan to) we would anticipate initially being able to capture around 2k visitors a day (which is approximately 2% of the potential audience) and appeal to around 120 (1%) of the potential businesses who we could promote. Of course, growing both these values over time is doable, and our research suggests the current upper limits on both these numbers in the region would be about 95k visitors a day, and around 12,200 businesses.
Of course, 100% market share is unlikely - though I don't believe anything is impossible - but even at 2%/1% rates we would expect the site to be generating a moderate income with minimal time input required from us once the platform is complete.
I guess I'm just still struggling with some mental issues in regards to truly believing in myself to achieve something like this. I'm constantly sure I'm overlooking some Major Flaw, or that I will Stuff It Up, or something.. I'm certainly in a much better headspace than previously, but it's still a struggle.
Anyway, if you have read this far - thank you so much for your time, it is really appreciated. I feel a lot clearer actually having simply typed this out!
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