Hot answers tagged market
14
I love this question. The fact you've asked it makes me think you have a great chance!
You absolutely can go after gaps in the market. Here's my suggestion for a methodology.
Start with some questions.
First, what do you know about? Your particular knowledge, skills and experience will shape how you attack a new challenge. Be thorough in looking at what ...
10
Having worked in the field for a couple of years, I can tell you: Algorithmic trading is complex and sometimes unpredictable, prone to gaming by other parties out there on the electronic battlefield and if you don't know what you're doing, you WILL LOSE MONEY and your boss will probably not like it.
The buy/sell API is as easy as picking up the phone and ...
8
Yes, it's bad, investors will rate you right away as clueless.
One way to think about it: why is your x% any more reasonable than say, 10 times less, or 10 times more? You do realize that when you say "housing is a trillion dollar market", and we only need to capture 1% to be billionaires, it doesn't make any sense. 1% seems low, which is why you assume: ...
6
To be honest, the other answers here are 100% correct--if you don't know what you're doing here, and from your question it sounds like you don't, you're going to be the fool that everyone else gets rich off of. As Paul Newman said, "If you're playing a poker game and you look around the table and and can't tell who the sucker is, it's you."
But I don't want ...
6
This really sounds like a bad way to start a software product. You should be choosing an area that you have a real interest in, or at least some strong knowledge in. How are you going to know what your users need if you don't understand the market properly.
Lower customer acquisition costs is absolutely not going to be the reason your software product ...
6
Traditionally Military, Medical, Aviation, Banking and Scientific Research ... Basically anything that is hard and takes a lot of domain knowledge and huge amount of certification to get into
IE. Anything with a massive barrier to entry.
If you have knowledge in an area like this, then I would say, "go for it" because a good solution here you will be able ...
5
Well, think about it from the other side of the table: If you start with a truly innovative idea, you also need to code the underlying software. You also need to fix bugs, and you also need to discover solutions to problems you encounter. It's basically a waste of time, too!
Besides, most web businesses operate on a common set of functionality: Some ...
5
First off, forex is for trading currencies, not metals. If he wants to trade commodities like gold, you should be looking at the futures markets.
Second, you're swimming with sharks, with laser beams. You're going to be up against some of the worlds brightest people who are thinking about this 24 hours a day and have been doing so for 10, 20, 30, 40 years ...
4
Usually the value is to be had in providing small differences that significantly improve the end product. Often these changes are not economically feasible for a larger player to implement, so a smaller player is able to step in and gain market share.
In your example of an ebay competitor, I imagine the small differences are things such as:
Interface ...
4
I know the type of leaders you are describing. Initially at least, encourage them to spend their 15 minutes per day REVIEWING and OVERSEEING the four hours or so per day that SOMEONE ELSE in the company spends on social media. As time goes on and they get the hang of it, they will naturally begin to participate more on their own.
Good luck.
4
I am a quantitative analyst in a Tier 1 bank.
What you are asking is totally off-topic for this website. Ideally, you want to be a guru in statistics, econometrics and having trading experience. To be honest, programming is the least important parameter in this venture.
I am not saying you cannot succeed without these skills but many people are under the ...
4
Lindelof,
There is little value to this type of a "plan". I use quotes because it is NOT a plan at all - it is only a hope. As a wise mentor once told me Hope is not a plan. This is a TOP-DOWN view of the potential of your business.
The little value is just to give you and the investor a hypothetical view of the potential. So you can give a very large Y ...
4
That's pretty cool! It might not be the next million dollar idea but here's what you can do.
You said you used it to learn new languages correct? Then market it as just that! Make a video about your app in action. Do not make a tutorial or a video of how it works. You don't even need narration! If you want to market it as a language learning tool, then you ...
4
Your question will never have a concrete answer due to the fact that there is too many factors. to list a few:
Does the software offers a trial period (user is asked to purchase a
license or the product in order to use the software)?
The software works after the user un-install and re-install the software
?
The software provide something that no other free ...
3
From a Programming View this sounds complicated. However, as you like to use a Merchant Account and a Payment Gateway, you need to review the abilities they have and what they allow you to do.
If you are allowed to make batch payments to the suppliers from your Merchant Account, you need to setup a Database which handles all Buyer and Seller Transaction ...
3
Gosselin07, there is no way to answer your question based on a post on a discussion forum... To answer, a good architect with deep knowledge of the programming language you're using would have to deep dive into your codebase.
But in general, my take is it's almost never a good idea to rewrite a codebase from scratch. Joel Spolsky wrote a classical piece on ...
3
My route was to actually enter the market where I could see a healthy demand and produce a similar product to something already out there to make enough money to run. After a while, talking to customers, I worked out what the next emerging trend was in that market and focused entirely on it. Finding the gap without being actively involved in the industry on ...
3
I think this gets you started roughly 50% for each gender and 36 billion as of ending 2007 quarter. Pew didn't answer frequency of use so the 50% is going to be off but I think it is an indicator of use that if you get nothing else should be used.
http://www.pewinternet.org/Reports/2008/Online-Shopping.aspx
...
3
You will ever face the problem with data quality. Try http://www.google.com/trends where you could compare sites or keywords and see the traffic development depending on your keywords or sites for many years history.
However, you need to take into account, that even the numbers in google might include traffic which was generated just to find keyword ...
3
I'd tier your approach from the perspective of highest confidence in the candidates.
First go to your personal network. Linkedin/Facebook, friends/colleagues/family, tell them generally what type of person you're looking for. 80% of hiring comes from networking for many good reasons. If someone you know can vouch for a candidate then you should have a much ...
3
A lot of it comes down to the degree of risk you consider development, and the degree of risk you want to take.
If you love writing code, have an idea for a Twitter app, and have a decent amount of free time, then why not give it a go? Worst case scenario, you learned a new platform had fun writing an application. And who knows, you might get extremely ...
3
You should take a look at this recent community wiki entry: How Do I Define and Research a Market and Estimate Market Share.
Estimating your revenue and user acquisition rates comes at the tail-end of estimating potential market share. For that, Jarie puts it best when he says:
Defining your marketplace, doing research and estimating market share are ...
3
You can make up numbers based on total market size forever, if your google/apple/microsoft then your look at these numbers because your going to have a chance at a serious percentage of these in the first year ... Unless you have deep pockets or a "facebook" style viral product then you need a different approach.
A realistic method is to work out "playing ...
3
I did a bit of searching and for the US you have access to various statistics out of Census: http://www.census.gov/econ/census07/www/get_data.html.
The data is from 2007 with 2012 being the next census year. You can drill down in to industry and sector to view sales data - for example Retail Sales.
There are organisations such as Gartner, Forrester and IBIS ...
3
SMB is not a segment, it is a huge horizontal market. I tried to sell database software into SMB and found that people have vastly different requirements. I ended up specialising the product to suit these various segments and currently just focussing on one.
Once again, "general purpose enterprise tool for SMB" is not sufficiently specific to define a ...
3
First, congrats on choosing an established market. This means people are already interested in your idea, they just don't know about you yet.
Your problem is one of audience awareness. You've got to find where your audience congregates (where their watering holes are) and approach them there. What blogs to these folks read? What forums do they ...
3
I too have put an app (iPhone) on the market and have had to lower my expectations from the millions I was sure it would sell down to about 1 sale a week, if that. I attended the Apple Developers Conference here in Austin this year and a long-held impression was reinforced that there are only a few real winners (apps) and everything else makes some sales, ...
2
An "industry" is a case where the map is not necessarily an accurate or useful representation of reality. Take for example any large company. It may be part of the "automotive" industry. But many of its departments do things and need software that have nothing to do with cars.
What's a more useful approach for you might be to profile what your present ...
2
I don't know if this is any help
But i wrote http://000fff.org/a-simple-model-for-innovation/
to help people get a better overview of their options when moving around different market opportunities.
hope it's helpful.
2
I believe that is a case where you know there exists a market for your product but it has not been named yet. As I see it, the scenario is much better than carving a new market for yourself. Infact, you probably have all the freedom to name and modify this market as per your need which is a very good thing.
Last night, I was reading an article where Pizza ...
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