I have a hypothetical question

Discussion in 'Business Ideas' started by V Maynard, Jan 30, 2011.

  1. V Maynard

    V Maynard
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    Now let’s say Netflix (online movie rental service) doesn’t exist, and I want it made right now. Where would I even begin?

    Should I start the business first?
    When should I create the website?
    The last thing I want to do is spend mega bucks building a website then when I try to partner with some of these movie companies, they end up turning me down.
    Should I try to contact movie companies and partner with them first?
    So if I do this first I won’t have a business or a website. How would I convince them to partner with me if I have no business or website to show them? Should I make a presentation or show them a business plan?
    What should be the first thing I should do?

    In fact, could someone make a list of Step 1 through 10 and guide me please. That would be awesome.
     
  2. DaveB

    DaveB
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    yeah you should get a biz plan in hand show in to potential partners and get backing first before you start pouring your money out
     
  3. Fergal

    Fergal
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    Welcome to our Business Forum V Maynard, that's a very interesting question. The first thing I would do is write a business plan and the business plan would outline the next steps to set up the business.

    I would probably move forward like this;

    • Find a partner who would supply the movies. The initial partner may not be the final partner. My aim here would be to find someone I could work with when the business is small. As the business grows it might be necessary to work with a different partner who could provide additional services and cope with greater volumes of business.
    • Set up the website and offer the service
    • Promote the website to a particular niche / target market and be the best provider in that niche
    • Expand the business to other niches
    • Seek funding for expansion when required.

    A danger with this approach is that a major company could copy the concept when it is at an early stage and put huge funding into it, to the extent that they dwarf my business. I would try to combat this by being the absolute best in a specific niche.
     
  4. Rasha

    Rasha
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    I think you should consider finding your customers first, make a list of people or companies who are interested in your product, then you can started thinking about a website. Always remember a website is not a business, a product is not a business. Your customers are the business. There are millions websites who are making zero money and millions of great products who are also making zero money.
     

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