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Mohit Kumar

Building ElevateRes.... • 1y

Here are my 4 lessons to avoid chicken or egg problem in marketplaces. ( Implementing in UnleashIT) 1. Target your niche first: Find the small groups in your community that care most about your marketplace. Ex: Uber started with “rich bros” getting black cabs in SF. 2. Choose the hard side first: See, for your marketplace which is harder to get. Is it supply? or demand? And focus on the hard part at first. 3. Make something free suddenly: Taking something that used to have a cost and instead offering it for free can attract more users to your platform. 4. Set a demand constraint:  Fiverr's pricing was initially limited to $5 to focus on executing a single value proposition effectively and provide a simple reason for everyone to use the platform. If you are interested in building a marketplace startup and business related content, do follow.

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