Aspiring entrepreneurs frequently approach me personally being an angel investor, touting their revolutionary concept for still another online site that is dating. I agree the necessity exists, with more than 91 million interested singles between the age of 19 and 45 all over the world. Yet very little one out of ecommerce makes anything, as it comes with a check out here bigger range of challenges than almost every other opportunities we see.
Hence, we encourage you to definitely examine these challenges as truth checks on your own company concept — dating or elsewhere — before spending your entire some time somebody money that is else’s vain.
1. Industry has already been oversaturated with rivals.
Relating to statistics, there are many more than 5,000 dating sites global with 1,000 brand new people appearing each year. In the event that you check your market on Google and locate figures like these, it is best to try to find another opportunity in which the wide range of rivals you can find is lower than 10.
2. This company is suffering from the ‘Facebook model’ startup issue.
Numerous online business offerings, like this 1, require thousands or scores of current users before new users and advertisers have an interest to cover money that is real.