MetalGear - Introduction

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Hi Everyone,
  • I have been lurking and wanted to finally introduce myself.
  • My background is in technology, engineering, and business.
  • The goal is to create a SaaS or e-com platform, and I am in the middle of finding my niche.
  • This phase seems to be a major roadblock for me because I'm not too sure how to "niche down".
  • I read the Digital Strategy Crash Course, but am still not too sure how to differentiate my platform.
  • Maybe I'm overthinking it, but competition seems so fierce.
  • There are so many platforms doing what can seem like the same thing.
  • Does anyone have any good resources on market segmentation?

I found the following books to be helpful:
  1. Value Proposition Design: How to Create Products and Services Customers Want - Alexander Osterwalder
  2. Thinkpak: A Brainstorming Card Deck - Michael Michalko
  3. Steal Like an Artist: 10 Things Nobody Told You About Being Creative - Austin Kleon
  4. Creative Confidence: Unleashing the Creative Potential Within Us All - Tom Kelley
 

Ryuzaki

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@metalgear, Welcome aboard. Glad to have you posting.

In this case, niche-ing down would probably require some form of intimacy with a larger niche and understanding the unique problems faced inside it for some segment of users.

I agree about seeing a lot of SaaS's doing the exact same stuff. How many keyword trackers do we have as SEO's, you know. How many backlink monitors, how many DA / DR / TF / CF metrics, etc. There might be a lot of competitors but if an industry is sufficiently big you don't need to reinvent the wheel.

Sometimes you can do what someone else is doing but do it better. Other times you don't even need to do that, you just need the biggest marketing budget and most ferocious campaigns (like 1&1 Hosting or GoDaddy).

You could do a full takeover of an industry with 1000 potential users paying $25 a month, or you could get a slice of a bigger pie where you end up with 10,000 people paying $15 a month. I'd rather do the second one, even if it means reinventing the wheel.

I'm not really a SaaS guy, though. The guys to follow would be @CCarter, @eliquid, and @secretagentdad. Best of luck, hope you stay out of lurker mode!
 
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  • I am almost done doing market research and will budget money to test a platform
  • The domain name alone is $3,000 and I am wondering if it is worth it
  • The rest of the costs will likely consist of ppc, seo, maybe a copywriter etc
 

CCarter

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The domain name alone is $3,000 and I am wondering if it is worth it
Dude you ARE overthinking shit, and it is because of procrastination. This is fucking Paralysis by over-analysis.

“Just fucking do it.” - Dan Peña

If you are going to hesitate at every damn decision you are never going to get anywhere. Reading more books, more papers, more blog posts, more resources on market segmentation, and more bla bla bla is just again procrastination.

Just fucking do it.

You are going to fail, you are going to make thousands of mistakes, you are going to lose a lot, but you just have to keep going and “fail towards success.”

Just fucking do it.


“I would a, I should a, I could a”




You are also pretending to have a creativity problem, just look at the subject of all the books you recommended to read. One is literally called “steal like an artist” - seems like that title alone should solve your problems.

“Competition is fierce???” You are overestimating them, complacency is always ingrained in companies that have been around awhile. That is why the little guys keep coming out of nowhere and taking over whole industries - and not by lowering price, that’s a race to the bottom. Be more competent, move faster, and listen more closely to customers.

if you want to read more bullshit, read the negative reviews and remarks of your competitors’ customers. That should give you ideas on what can be improved upon.

But enough with the fucking reading, it’s time to pull the fucking trigger. If you are a lurker you’ve read the same message 1000 times. Anything in life that is worth having requires pulling the trigger.
 
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Dude you ARE overthinking shit, and it is because of procrastination. This is fucking Paralysis by over-analysis.

“Just fucking do it.” - Dan Peña

If you are going to hesitate at every damn decision you are never going to get anywhere. Reading more books, more papers, more blog posts, more resources on market segmentation, and more bla bla bla is just again procrastination.

Just fucking do it.

You are going to fail, you are going to make thousands of mistakes, you are going to lose a lot, but you just have to keep going and “fail towards success.”

Just fucking do it.


“I would a, I should a, I could a”




You are also pretending to have a creativity problem, just look at the subject of all the books you recommended to read. One is literally called “steal like an artist” - seems like that title alone should solve your problems.

“Competition is fierce???” You are overestimating them, complacency is always ingrained in companies that have been around awhile. That is why the little guys keep coming out of nowhere and taking over whole industries - and not by lowering price, that’s a race to the bottom. Be more competent, move faster, and listen more closely to customers.

if you want to read more bullshit, read the negative reviews and remarks of your competitors’ customers. That should give you ideas on what can be improved upon.

But enough with the fucking reading, it’s time to pull the fucking trigger. If you are a lurker you’ve read the same message 1000 times. Anything in life that is worth having requires pulling the trigger.
  • I tried to launch something before and it failed miserably
  • I have been lurking for about a month and found that my market research was terrible before
  • Actually, your Day 3 - Market Research post on the Digital Strategy Crash Course page was extremely useful
  • Thanks for the vote of confidence, but I am here because I don't know what I'm doing and I want to learn from my mistakes
  • My brain tends to see things from a pragmatic perspective, creativity is definitely not my strong suite and I am working on that
 

CCarter

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@metalgear - #1 So what's your end decision? (Regarding the $3K domain).

And #2 what do you plan on doing to overcome these obstacles?

It sounds like you need to find a business partner that will compliment your strengths to your weaknesses.
 
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  • I just watched a YouTube series about Niche Selection that was recommended by a friend
  • The next step is to do some keyword research to validate the market size
  • Within a week, I should have a decision

 
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  • Hell of a week
  • The quarantine helped me solidify my idea and I am moving forward
  • I bought the domain
  • Working on integrating a tool with a WordPress template that (yes quick and dirty for now to test)
  • Does anyone have any toilet paper?
 
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Does anyone know if having a Wyoming LLC requires you to register as a foreign LLC in other states for the purposes of e-commerce?