Sitemaps

Questions

Marketplaces

What are some ways to balance supply and demand in a two-sided marketplace for services?

3

Answers

Kristian Dupont

Developer of software and businesses

This obviously depends highly on the domain/industry that you are in. I can create a market place for, say, legal advice, tomorrow and have plenty of demand. I just need to make it a market place for free legal advice from top-lawyers. However, the supply will be hard to come by. Or I could get plenty of supply if I make it a marketplace for $1000/hr legal advice, no education required for the supplier. In which case the demand will be lacking. It can be quite tricky to find the equlibrium (indeed one might not exist) and I don't see how any generic advice could help. If you have managed this though, your problem should only be about reaching people. In that case, you either need to find the "home turf" of your suppliers or your buyers depending on which party you lack, go there and announce that people are looking to pay them money or people will help them solve their problem.

View Answer

Zac de

Winner of the International Coach of the Year 2014

Hi there... I would say the reasons would be potentially three-fold. (1) Obviously if your name was a little "weird" as in for whatever reason no longer fitted with what you are doing... (2) If something "bad" had been associated with your current name, so in your marketplace, your name no longer means good things, it would be worth considering changing your business name... (3) If your company needed a complete re-boot and wanted to start afresh in many ways, a name change could add impetus to you getting back on track and having a good chance of hitting your full potential. It is only a change in name and you would need to make sure that the internal heart of your company (culture, people, customer experience etc) also had a kick start, as a name change will not get you this positive kicker unless you change "how things are done around here" too. There might be a 4th one, which might be if your name is close to someone else's business name and you do not want to have a close name to them (for whatever reasons)? Overall, you might consider your business name if you were sure that it was part of the pieces to the puzzle of how your business can perform better. But a name change in itself, is not the only answer to take your business to the next level. Cheers Zac

Kristian Dupont

Developer of software and businesses

If I was just starting out, I'd consider learning Meteor (https://www.meteor.com/). It's just entered version 1.0 and after working with it for a little less than a year I do have some issues with it but it still makes for a very solid framework that gets you up and running very fast. You would only need to learn Javascript, and you can slowly work your way towards nodejs from there (which Meteor is based on) if you want to, or you could get the basics down and focus on learning design if you prefer.

Frederik Trovatten

Clarity Expert

Don't worry about Google Page Rank. It's already been declared dead (http://www.searchenginejournal.com/google-will-probably-updating-toolbar-pagerank-john-mueller-confirms/117691/). Instead you should figure out how to get high quality and editoral links - which is the essence of page rank.

Artash Arakelyan

Entrepreneur, Strategist, Start-up Mentor

For software development business LinkedIn ads, content marketing and Google Adwords don't work well. The best and most cost effective method is email outreach. Try to find the contacts of key decision makers in Bay Area from your target companies. You want to present yourselves as custom mobile and web development specialists and highlight your core competencies to get an initial call to discuss their mobile strategy or software development needs. Attaching your case studies how you helped other similar businesses and your portfolio can be extremely helpful as well. Try to always focus on the benefits in you pitch that they can get by working with you and point their missed opportunities of not having certain types of software or apps for their business. Clients love that software development companies have not only strong execution but also ideation skills. Hope this helps. If you have any questions I am also available on call for your convenience.

Ken Queen

Small Business Consultant, entrepreneur

You would figure out your price per acre by the kind of rent you can collect in that area. You don't need to be right downtown in the richest area but if you want to have middle class clients you better be in a middle class area, call if I can help you more, thanks...Ken Queen

Humberto Valle

Get Advice On Growing Your Real Estate Business

Hi! I'll start by saying that this is a tough one. I personally employ several sales reps, some 100% commish while others take te bigger of two: commissions for that period or a predetermined hourly rate (if they feel they won't do as good that week) With that said, these type of jobs tend to pay only on production, merit based, not presumed value. But that doesn't mean you can't work around it. Try: 1. Use a speculative wage offer approach... This is you identifying gaps in the firm and offering solutions in lieu of the opportunity and pay increase... 2. Speculative application doing the same at another firm... Assuming you are barely starting with the firm i would serioiusly recommend you do your best during the review period, while planning to meet and extend your offer to the firm... This is done for high corporate entry level positions as well and tends to work if you pitch yourself right... Focus on the holes in the firm you can fix, How much money that will save or generate considering your wage, and the credit the hiring manager will get if all goes great Good luck

SaaS - Enterprise & SMB B2B

How come so many American websites use Zopim?

2

Answers

Liran Hirschkorn

Amazon Marketing Expert

Because single users can use it for free with some restrictions (like only 1 chat at a time).

Arfan Chaudhry

Appreneur / Angel Investor / Crypto Investor

The first thing is to find the right guy in the company to approach your service to. The second thing is to give them an offer they can't refuse to say no to. I am pretty sure Google must be paying big $$$ to GoDaddy and Bluehost to push their advertising services to their clients.

Brandon Kolybaba

Bootstrapping, Big Data, "Cloud", IaaS, OpenStack

Absolutely enable it! I know the folks at Sheepdog do this as standard operating procedure for all client domains

Bogdan Andrei

CEO at Broadcast Analyst

To much to write here, but I'll try to name few: - NAME - easy to remember, good domain, suggestive accordingly with your intentions. - UI/UX - to be attractive and same time simple but functional, adaptive and responsive to user's needs. - CLARITY - in this way the users to understood in few clicks how it works and what could take advantages from your network. - CUSTOMIZATION - to give the users a relative control over the interface and modules (to change the theme, to drag the modules in different places, to add/remove modules, etc). - CLOUD PROVIDER - a good provider which to offer scalability and speed - SPACE (optional but already become a must) - to provide to your customers cloud storage which to integrates with the main functionality of your network. - COMPARTMENTALIZATION - as to provide users the possibility to create groups(circles/tribes/etc), to assign different functions to groups/files, to create behavioral rules for files/actions/etc Depends on you how complex want/need this network to be. If you consider I could help you draft the architecture of this network, you may reach me at bogdins at gmail dot com or by skype at technobogdins.

Jason Kanigan

Business Strategist & Conversion Expert

Two huge ones: > Confusing activity for results. Many older entrepreneurs haven't learned the lesson, either. You can 'be busy' into oblivion. > Confusing social interaction for prospecting and sales activity. Talking =/= Qualifying. You should not be trying to let "everyone" know you exist. Find your target market and focus your effort there. Otherwise, you'll waste your energy.

BT Irwin

Helping small nonprofits do big things.

Excellent question (and excellent answers here too). I'm 18 months into my start-up. That's 18 months of learning what is essential to survival and what is a waste of energy and space. Here is what is helping me most: 1. Communication essentials: Business cards (moo.com), laptop, phone, and Internet access. No explanation necessary. 2. Memberships in free or low-cost online media and networks (like this one). Online (in order): 1) Gmail, 2) LinkedIn (especially groups), 3) Meetup, 4) Twitter, 5) WordPress, 6) Constant Contact, 7) Facebook. Use these to find in-person opportunities to network and prospect. These tools are your lifeline to building an online presence, prospecting, and researching. Also vital: Testing your product or service idea. 3. Bookkeeper or good bookkeeping software. I cannot emphasize this enough. CASH IS YOUR BUSINESS. If you don't have a budget and cash flow projection, you don't have a business. Period. You MUST make this the heart of every activity and every day. If you suck at it, find someone who is good at it and spend the money to get them to help you. BONUS: Listen to podcasts like "Entrepreneur on Fire" and subscribe to free resources like Jeffery Gitomer's "Sales Caffeine." As a bonus, here is what took up space in my toolkit (now jettisoned): 1. Big bucks on a graphic design firm to do my marketing media. This is not for starting up; it's for later. Use free or low-cost design services or templates. You want to test your actual business idea first before investing thousands of dollars in a design company. 2. Apps, apps, and more apps. I went app crazy in the beginning, buying buckets full of "productivity" software. It ended up sucking up too much time and I settled on Evernote and Google Spreadsheets because they're familiar and they work for me. Big apps are for later. 3. Coffee meetings. OMG. I wasted hours and hours and hours having coffee with my "network," which amounted to a lot of people who could pat me on the back but who could neither buy from me nor refer any business. Affirmation is great, but too much of it will run your right out of business. Find a network of entrepreneurs in your community and spend more and more time with people who can buy from you. It's the only way to grow. I'm happy to visit with you from the trenches. Please give me a call if you like.

Jason Kanigan

Business Strategist & Conversion Expert

Well, I made money in the first year...in the first couple months, actually. I run a consulting business. The other guys...let's get some definitions going here. They made revenue. Unless they were totally hopeless, they had some cash coming in. But they also had expenses going out. Manufacturers and IT guys who go into business generally don't know anything about selling. They get an "idea" and go create something, and then have to struggle to get it adopted. So they have to throw a lot of cash out, and then try to rake some back in. This is the wrong order; however, that's what most people do. That is what their first year is spent doing. Developing the idea, and then finding a market to sell it to. If they fail to accomplish these two steps, they won't last much longer. Until revenue exceeds expenses, they won't make money. They're also developing systems and processes, and getting experience. They could be growing, in which case they are probably adding people at a high rate which consumes profits as soon as they come in to pay for the new staff. Fast growth can also easily be mismanaged and cause a succeeding business to crash and burn.

Ronan Levy

Co-Founder at MayfairSeven.com

I'm not an expert on German law, so please take everything with a grain of salt. This is never an easy issue because there aren't many persuasive arguments on either side. What usually ends up happening is that the parties defer to a neutral jurisdiction, typically New York law/New York courts or English Law/London courts. The reason being that most major companies worldwide usually have some nexus to either New York or London, so it's something they can agree to. Your best argument for requesting US law is that you are a US company, and the fact that most German companies are still sometimes subject to US law. (Many online companies offer only US terms and conditions, so German companies just have to agree to it sometimes.) I would avoid at all costs agreeing to German law or jurisdiction. Civil law (Europe) is very different than common law (England, US, Canada, Australia etc.) both in terms of the law and procedures. If they won't agree to New York, then push England. If that fails, then delete the governing law provision altogether and you can fight it out if and when a situation in which matters arises. To answer your second question, if you agree to German law and a judgment is rendered against you: (1) having a German judgment against you if you don't have any assets in Germany is a bit useless, as there is nothing to seize if you refuse to pay. They can seek to have the judgment recognized in US courts. This is an expensive process and most companies won't go through the effort because effectively they have to relitigate the matter in the US to get the enforcement order. However, they can do so if they are so inclined. (2) If a judgment is rendered against your company, then my presumption is that as a director or officer, you can encounter issues in Germany if you ever try to enter. This is where I'm least knowledgeable but I'd guess that if a judgement of a court is ignored, then eventually the directors and officers can be subject to criminal proceedings for contempt. If that happens, you could be arrested in Germany if you ever try to enter. I'm just guessing at that last part, but you don't want to go down that road, even if I'm entirely wrong. Ronan

Carl Willis

Internet Marketing Consultant, Coach & Speaker

I have found great success with developing an affinity group (e.g. German Shepherd owners, muscle car fans, etc...) and then interspersing the content with offers that address their interest. For example a group of pet lovers is encouraged to share their pictures and videos of their favorite pet. In the midst of those posts, we will then share a related offer such as pet food, pet supplies or other accessories. The key is developing a sizable audience that shares the same interest. Get that group submitting the content and then introducing offers as part of the content flow. Schedule a call with me if I can assist you further.

Noah Lopata

Owner at Epidemic Marketing, LLC

I wouldn't focus too much on likes on FB any longer. In the past FB pushed promoting likes as a way to get "free" reach. Now that they have butchered the "free" reach you really need to pay to play.

Matthew Meltzer

Employment & Business Immigration Attorney

Hello, you have many options as a Canadian entrepreneur moving to the US. If you are the major investor in your own company and own at least 50% of the company, you are eligible for an E-2 visa. If you already own a Canadian company and are opening a branch or subsidiary in the US you are eligible for an L-1 visa. If you are currently in the US as a student you may consider an H-1B visa. Regardless, of what option you choose you cannot just move to the US and start working. That said, you can make short trips to the US to set up your company without a visa, such as setting up bank accounts, signing legal documents, and agreeing to a lease. Each of these visa options has its own timeline and various strengths and weaknesses. I am an immigration attorney in the US. I would be happy to discuss your options further with you on a call.

Joshua Schoenbart

CEO & Founder at The EyeBook, USA G20 YEA Delegate

Budget is definitely important for a successful business, but it is not everything! As a young entrepreneur, I started a similar business earlier in my career selling eyeglasses on eBay. I created an eBay store, worked on advertising, and was fortunate with my results. I would love to speak with you about starting a website and marketing effectively to consumers with a very small budget. The biggest recommendation I can provide is to test different services at a low budget to see what works. Rather than spending thousands of dollars on a marketing agency, there are many services that can help your iPhone case business in marketing effectively. Feel free to reach out to me!

Jason Kanigan

Business Strategist & Conversion Expert

This is a question for Neil Patel! (cue Superman theme) Since I'm not Neil--though I interviewed him--I'll give my Regular Joe Online Marketer opinion. I think you should re-launch it. Two big reasons: 1) Branding is the name of the game, and your old blog has it. 2) Nobody cares that you've "been away"...as long as you're back with an acceptable reason and great content. Heck, make the comeback part of your Mission, and announce it loud and often that your purpose is to Rekindle the Flame of Marketing Knowledge, and this blog is the very best way you can think of to do it! You don't have to fight to get noticed...it's already drawing traffic. As an asset, the blog is already functioning. You've been away on other projects, you're back now because of Reason X, and let's get reinvigorated about marketing! Think about (ahem) "real" real estate. An area's hot, new development, lots of interest. Construction, buying, selling. Then it matures and the market moves on, and nobody cares. The area may even go into decline. Then some enterprising developer comes along and turns the whole old thing into lofts and presto! What's old is new again and everyone loves it and the area's back in the spotlight. Have a great "return to mission" reason, and maximize that branding. You know people love great content. All they need is that reason to come back.

Jason Kanigan

Business Strategist & Conversion Expert

1. Get your funnel(s) down pat and automated. If all you're doing is sending a broadcast email to your list every few days, you're missing out. 2. Pay for targeted traffic. The List is the #1 factor in sales conversion: you can have mediocre copy, but if your list is spot on, you'll make sales. But if you have great copy and a lousy list, you won't make a dime. Stay away from solo ads/ad swaps. Buy access to lists of buyers, who have bought products like yours. Yes, these lists are available. Expect to invest $3K minimum to email them...but they are already opted in to the service's list, and they have already bought something similar or related to your product. Huge factor in conversion. 3. Develop joint ventures with online marketers who are bigger than you and have bigger lists in niches related to your current one. Yes you may only make 50% or 25%, but those are sales you'd never have made as easily as with this affiliate. Many people buy just because someone they trust and have a relationship with recommended the product...as you probably know. 4. Develop reputation and traffic from high traffic online sources like forums. Sell at those locations.

Jason Kanigan

Business Strategist & Conversion Expert

I want to begin by assuring you I don't want to rain on your parade. Now... Ideas are a dime a dozen. Execution is what is critical, and hardly anyone does execution well. NDAs are nice but they won't protect your idea from being ripped off in the medium term at the latest, if it's a winner. Your best protection is that execution thing...people sure like to talk, but they don't like to Do. Do NOT have your prototype made in China. It will take months in shipping back and forth, misunderstandings, finding the right manufacturer, and other difficulties. Do not embroil yourself in that mess. Absolutely you should get a prototype made first. Will it cost you 10-100X what the final version will cost? Of course. Do you need something to show investors, suppliers, channel partners, retail outlets? Yes. All a patent does is protect your idea for awhile from being duplicated in the exact way you are executing it. I can't go make a sticky-note that uses a strip of lightweight glue to hold the paper onto something. 3M has that patent. But I could find another method for holding the paper on, and that would be fine. Worrying about protecting your idea is kind of a waste of time. You should do what you can afford and what makes sense in terms of your time invested to accomplish a level of protection, but don't let this be all-consuming. It's just not worth it. Get out there and make your product and find paths to market. That's what will really pay off. Someone WILL copy your product sooner or later if it's a money-maker. That's why developing great branding is so important: keep the knock-offs in the knock-off category in your buyer's brain, and you as the top quality original.

Jason Quey

Helping startups find product-market fit

Putting aside the legal question for the moment, here's a bigger problem I think you will be facing: Of what benefit will users or advertisers have for this service? As I current understand what you are doing, this is asking to be abused on multiple angles. First, it only benefits advertisers if they are getting in front of relevant buyers interested in what they have to offer. So to get clicks from people not actually interested in what they have to offer will only increase advertising costs to reach the same audience. Second, the user is just going to be deluged by offers that they really aren't interested in receiving. This means they will either de-select the company as a page they like or simply ignore the ad and get slightly irate with the irrelevant advertising. Sorry to say, but this system is asking to be abused by click-farms. If you've got potential paying customers, figure out some other type of advertising system that will benefit both the users and advertisers, and see if it works!

Rich Page:

Ecommerce CRO Expert With 15 Years Experience

I think 13% is good - that's what mine is too. I think the bigger issue is getting more people to your profile page. It doesn't matter how good your page conversion is if you don't send people to it from your website or email marketing efforts. it also depends on your per minute rate.

Armando J.

Lead Capture Expert Using AI To Help You Scale

The first thing you should do (if not done already) is analyze your current traffic. You have to make sure a good percentage of your visitors are actually sticking around to either watch the video or at least enough to look at your other content. If this is not the case, then improving targeting for your ads might be your best bet. It is not just the quantity of the visitors but the quality that makes them worth it. 100,000 visitors that just bounce off immediately after arriving are worth less than 5,000 visitors that actually stay for the intended purpose. A visitor that is on your site for a minute is much more likely to see an affiliate link and/or ad than one that just exits after a few seconds. The next point would be looking at your site performance and formatting. If the site is slow to load, then people are more likely to exit as fast as they came in. Also, if they are there to watch a video clip and all the page is filled with ads everywhere, it does no good to the user experience. Finally, make sure the ads shown on the pages are either relevant to the content in question or relevant to the customer. Good Luck and let me know if you have any questions!

Load More