Aspiring entrepreneurs frequently approach me being an angel investor, touting their revolutionary concept for still another online dating site. We agree the requirement is offered, with more than 91 million singles that are interested the chronilogical age of 19 and 45 all over the world. Yet very little one in e-commerce makes anything, because it includes a bigger directory of challenges than other possibilities I see.
Hence, we encourage you to definitely evaluate these challenges as reality checks on your own company concept — dating or else — before spending all of your some time some body else’s cash in vain.
1. The marketplace has already been oversaturated with rivals.
Relating to data, there are many than 5,000 online dating sites worldwide with 1,000 brand new people showing up on a yearly basis. I suggest you look for another opportunity where the number of competitors you can find is less than 10 if you check your market on Google and find numbers like these.
2. This company is suffering from the ‘Facebook model’ startup issue.
Many online business offerings, like this 1, require thousands or scores of current users before new users and advertisers have an interest to pay for money that is real. Therefore, the investment in money and time needed before payback is huge. Continue reading “8 Reasons Online Dating Services Really Are A continuing Business Dead End”