Home – New Forums Starting your journey how would I do a coupon website OS?

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  • #995201
    johnnycashflow
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    hi everyone, complete technical and possibly unrealsitic person here so plesase go easy

    there is a country that doesnt currently have any form of groupon, scoopon infiltration.
    and I have a contact that wants to do it, with me

    on the assumption that its a very viable and well recptioned idea,

    how would you go abouts doing it?

    I know this is like asking how do I build a 200m tower from scratch

    but I know these coupon companies took only a few years to go from idea to almost global penetration

    is it crowd funding?
    is it getting millions of dollars of investments?

    somehow Idont think there is a few sales people in a single city approaching local businesses to list themselves, and doing it the traditional way, as to get even national penentraion would take 5 years alone.

    apologies for the hopeless questions

    #1200577
    arrowwise
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    Have you researched why such model doesn’t exist, but is saturated in most other developed markets? If viable it would be a case of doing detailed R&D on what could work. Start small with some winning products / business partnerships to test the waters, which I feel would be a key first step.

    #1200578
    Rohan@TD
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    We’ve just supported a client doing something pretty similar. Key points, you should do:

    • Fully develop your business plan, model and technical concept.
    • Develop the technical specifications (e.g. user requirements document) the best you can.
    • Find a technical partner (general term, not necessary a ‘business partner’) who can help develop and deliver your platform.

    Funding wise, your options include:

    • Self funding a ‘lean startup model’
    • Seeking a business loan
    • Seeking angle investing
    • Approaching a VC firm (unlikely to be successful without active users and revenue).

    To get active users, collective of both businesses and those receiving their coupons (I’m using the term ‘receiving’ because I don’t know your model), there are a variety of sales and marketing approaches depending on your sales strategy, target market, budget, local infrastructure and marketing strategy.

    #1200579
    johnnycashflow
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    thanks everyone,

    my first thoguht was, why havent these big nationa lcompanies penetrated the market, and I think its either 3 reasons
    – not worth it for them
    – cultural barriers
    – time reasons (maybe they havent gotten around to doing it)
    – unknown reasons

    to be honest, I think its a bit of 1 and 2, however we all feel that marketed correctly there will be no cultutral barriers

    so hypotehtically if our assumptions and research are correct, there is a good market,

    so the next step for us is to work out how to approach it, we obviously dont have millions of dollars, or millions of invetors throwing $ at us (at this point in time)

    #1200580
    Rohan@TD
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    Invest some time learning how Groupon and other market leaders originally started. What steps they took and how they initially grew from a startup to a decent player in the industry.

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