Starting an industry news blog for a product you're developing

Discussion in 'Starting a Business' started by carpekd, Aug 25, 2013.

  1. carpekd

    carpekd
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    I need to know if this is a good idea or a bad idea...

    I'm developing a product but i'm still in the development phase and i'm not ready to seek funding yet. One idea I had was to start an news blog about the industry i'm wanting to enter. For example, if I was developing a new cell phone, I would create a news blog about cell phone technology while I develop my own phone.



    By doing this, I'm hoping to accomplish a few things:

    1) Monetize the website for funding my product development (a lofty goal in itself, I know)

    2) Gain industry knowledge for myself

    3) Create a name for myself in the industry before I enter it with my own products.

    My worry is that this will create a conflict of interest when I am ready to unveil my own product to the industry (this will of course be under a different company entity than the news website)



    Is this a valid concern? What other concerns should I be looking at by going this route?
     
  2. Rocky

    Rocky
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    One concern that I can see is your competitors getting to know all your moves and preparing in advance for it. You may find that even before launching your product your competitor has come with something similar or better and has got the competitive edge over you.

    Having a site that inform your future prospects about your product is a good idea but to what extent you share the developments of the product is something you have to give a thought to.

    Alternatively, if funding is what is your main concern that you could think of Crowdsourcing.
     
  3. Fergal

    Fergal
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    Personally I would worry about that when the time comes. There is nothing to be gained from not going ahead with your idea, because of something that may or may not be an issue some time in the future.

    Starting the blog sounds like a great idea, for learning more about your industry and for getting a foot in the door of that business. Please post back to let us know what you decide.
     

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