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MenuAre there marketplace experts for mentoring here on clarity.fm?
Mentoring will be conducted through clarity.fm scheduled paid consultation. Expert must have built a marketplace or have full knowledge of how etsy, houzz, zillow, trulia, pinterest system or ebay works.
Answers
Clarity has dozen's of experts in this area - some are list here:
https://clarity.fm/browse/industries/marketplaces
and here:
https://clarity.fm/topics/marketplaces-10183
https://clarity.fm/topics/online-marketplace-12395
My favorites are
- Micha Kaufman (Founder/CEO @ Fiverr.com) https://clarity.fm/micha
- John Ramey (Founder/CEO of isocket.com) https://clarity.fm/johnramey
- Josh Brelinger (VC, previously #5 @ oDesk.com) https://clarity.fm/jbreinlinger
- Dinesh Thiru (VP of Marketing @ Udemy.com) https://clarity.fm/dinesht
- Fergus Dyer-Smith (Founder/CEO @ Wooshii.com https://clarity.fm/fergusdyer-smith
+ many more.
I may be able to help from my experience founding and building Skillshare, as well as researching marketplaces in general during that time. What specific questions do you have?
Feel free to ping me to setup a call.
Generally, I'd encourage you to check out the Search feature here on Clarity that has a number of featured experts that list where they feel most able to be of help. Check out their reviews and the answers they have submitted to get a good idea of their potential fit with you. Here are a couple of suggestions:
Dan Martell - Founder of Clarity
https://clarity.fm/danmartell
Boris Wertz - Cofounder of AbeBooks which sold to Amazon and an investor in many marketplace companies:
https://clarity.fm/boriswertz
And Elan Mosbacher (I don't know him but his profile looks good) https://clarity.fm/elanmosbacher
Let me know If I can help you. I am working with Yo!Kart online marketplace platform where we help global business owners to launch their own eBay, Etsy, Amazon, or other such marketplaces. I can help you to guide on these topics:
Future of online marketplaces
Different Business models
What are popular revenue channels in an online marketplace
What are the must-have features and functionalities?
How to start with pro active and pre active marketing
Feel free to ping me.
Thank You
Related Questions
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Freemium v.s. free trial for a marketplace?
It depends on a number of factors but I'd boil it down to two key things to start: 1) What is your real cost to provide a free plan or trial? 2) Who exactly is your customer and what are they used to paying and who and how do they pay today? When you say "online workforce marketplace" it sounds as though you're placing virtual workers. If that's the case, or if you're paying for the supply side of the marketplace, the question is how much can you subsidize demand? Depending on where you're at in the process, I'd also question how much you can learn about the viability of your marketplace by offering a free version, assuming again, that free is actually a real cost to you. I was part of a SaaS project that started charging people for early access based mostly on just a good landing page (we clearly stated they were pre-paying) and were amazed at the response. I've also run a SaaS product that offered free trials and realized that the support costs and hand-holding and selling required to convert from free trial to paid wasn't worth it, this despite the product's significant average ARR. You might be better off providing a "more information" sign-up form (to capture more leads) and let them ask for a free trial while only showing your paid options. I've been amazed at the lead capture potential from a simple "have questions? Click here and we'll contact you" This is all the generalized advice I can offer based on the limited information I have, but happy to dive-in further if you'd like on a call.TW
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When creating a marketplace, does it make more sense to focus on stimulating demand first or supply?
Focus on the more difficult side of the marketplace. For instance, if you think it'll be easier to get suppliers, then focus first on getting buyers - always be working on your toughest problem (aka your biggest risk). You'll find some great blogging on Marketplace and Platform topics here http://platformed.info (read the ebook too!)CM
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Holding funds in a 2-sided marketplace?
Check out https://www.balancedpayments.com/ They are made for marketplaces. Airbnb CEO among others invested in them and they have some of the best pricing/payout fees. Also some good info on http://www.collaborativeconsumption.com/2013/10/08/online-marketplaces-are-hard/ One of Balanced Payments co-founders is writing this blog series on marketplaces.MA
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How important is it for a marketplace startup to drive enough demand (customers) for your supply (sellers) to make a full time living off of it?
It's very important. (first, read this article by Josh Breinlinger - http://acrowdedspace.com/post/47647912203/a-critical-but-ignored-metric-for-marketplaces) The way you achieve success in a marketplace is by driving liquidity for both your supply & demand. Demand-side Liquidity = When users come to your marketplace, they can achieve their goals. Supply-side Liquidity = When supply comes to your marketplace they can achieve their goals... which are almost always to make money. If you're making a large amount of your supply-side users a full-time income, then you're helping them achieve liquidity. Now it's not so black and white and it doesn't always have to be a "full-time income." It depends what their goals are. E.g., 1) At Airbnb, renters aren't looking to quit their day jobs and become landlords full-time... they're just look to earn a substantial amount of income to offset their rent, mortgage, etc. So in this case, I would probably goal on # of renters that earn >$500 / month... and (in the first 1-5 years) try to grow this number by 10-20% MoM... and maybe by just 5% once you're in the mid-high tens of millions in yearly revenue. 2) At Kickstarter, the goal of the supply-side is to get their project successfully funded. They don't care if the project creator is "full-time"... they just want to make sure they meet their funding goal. This is why they talk about their 44% project success rate all the time - http://www.kickstarter.com/help/stats 3) At Udemy, our instructors want a substantial amount of their income to be driven from their Udemy course earnings... so we look at how many instructors are earning >$2k / month.DT
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Broad niche or Targeted niche which way to go?
I always suggest going "uncomfortably narrow" initially so that you can really dial in the user experience and build liquidity first. Going broad will be tougher as there's too much noise to signal. Also, it's best to fake the supply side initially of you can to improve the buyers side first, then figure out supply & quality afterwards if customers are buying and you've proven out a demand strategy that will work.DM
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