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I've searched the forum and didn't find where this topic had been discussed yet:
"How do you perform due diligence for an internet-based fastlane business?"
I know that's a very broad question, so I'd like to give an example of what I'm looking at, and hopefully you could point me in the right direction or help specifically...
I'm looking at putting together a lead generation website to connect people to specific services; as an example, let's say the website will help connect people to the best dentists in their area.
What's the need? The consumer currently has no way to know who is the best dentist in the area, and is forced to choose one either by looking through the yellow pages (and deciding on the one that has the best looking ad) or by referral or by trial and error.
What's the benefit to the consumer by coming to our website? We've done the research for them to find out who the best dentists are in their area (especially helpful if you've just moved to a new area) and the service doesn't cost them anything.
What's the business model? Basic lead gen - The consumer comes to our website, fills out a form indicating what services they need from the dentist, we relay the consumer's info onto the top 3 dentists in their area, these dentists each pay a $3 fee for referring a qualified lead to them, the dentist calls the consumer to set up an appointment or consultation.
What's the benefit to the dentist? They are receiving a qualified lead (qualified by having the consumer answer specific questions on our website for the services they need) for a low, low cost compared to other avenues of advertising.
Okay, so that's pretty much an example of what I'm looking at; and after some initial research I've come to the conclusion that I can definitely do a better job than what some of the other companies in this field are currently doing, either because the they aren't doing a good job at it or by creating a new spin on what's currently offered.
So far, I've researched what these other dentist lead-gen companies are doing, I've looked at their websites and checked out the forms they have the consumer fill out, I have a basic range for what they're charging the dentists for the referral leads, I have a good idea on how to get the info on who the best dentists are in areas, I've checked out compete and alexa to find what kind of traffic my competitors are pulling through their sites, and I've looked at domain names for the biz, but where do I go from here, what other due diligence would be required for this type of business before pulling the trigger?
Thanks!
Speed+ for helpful replies! 😀
"How do you perform due diligence for an internet-based fastlane business?"
I know that's a very broad question, so I'd like to give an example of what I'm looking at, and hopefully you could point me in the right direction or help specifically...
I'm looking at putting together a lead generation website to connect people to specific services; as an example, let's say the website will help connect people to the best dentists in their area.
What's the need? The consumer currently has no way to know who is the best dentist in the area, and is forced to choose one either by looking through the yellow pages (and deciding on the one that has the best looking ad) or by referral or by trial and error.
What's the benefit to the consumer by coming to our website? We've done the research for them to find out who the best dentists are in their area (especially helpful if you've just moved to a new area) and the service doesn't cost them anything.
What's the business model? Basic lead gen - The consumer comes to our website, fills out a form indicating what services they need from the dentist, we relay the consumer's info onto the top 3 dentists in their area, these dentists each pay a $3 fee for referring a qualified lead to them, the dentist calls the consumer to set up an appointment or consultation.
What's the benefit to the dentist? They are receiving a qualified lead (qualified by having the consumer answer specific questions on our website for the services they need) for a low, low cost compared to other avenues of advertising.
Okay, so that's pretty much an example of what I'm looking at; and after some initial research I've come to the conclusion that I can definitely do a better job than what some of the other companies in this field are currently doing, either because the they aren't doing a good job at it or by creating a new spin on what's currently offered.
So far, I've researched what these other dentist lead-gen companies are doing, I've looked at their websites and checked out the forms they have the consumer fill out, I have a basic range for what they're charging the dentists for the referral leads, I have a good idea on how to get the info on who the best dentists are in areas, I've checked out compete and alexa to find what kind of traffic my competitors are pulling through their sites, and I've looked at domain names for the biz, but where do I go from here, what other due diligence would be required for this type of business before pulling the trigger?
Thanks!
Speed+ for helpful replies! 😀
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