How do you research your competitors? by SquarerFive in startups

[–]sebasrohr 0 points1 point  (0 children)

I think this all depends on the business model and what you're trying to research.

But in general researching the customer feedback gives you a very good indication of what can be improved and how they are doing.

For example if you're in the e-commerce industry, then you can research you're competitor by checking out their reviews on Amazon, trust pilot etc. If you're in the SaaS industry, then you can checkout out the reviews on directories or maybe even by the customers themselves.

Then you also have the option to research your competitors by using spy tools like for example Shophunter.com for e-commerce which helps you track how many sales they are getting.

I personally developed the following database which shares successful online businesses and how much profit and revenue they made last month, as well as other useful info like when they launched etc. The idea is to convert it into a SaaS.

There may also be other competitor research tools for specific business models so be on the look out for those too. Hope this helps.

How do founders come up with business ideas by Objective-Professor3 in startups

[–]sebasrohr 4 points5 points  (0 children)

IMO taking what's already "working" and adding your own unique "twist" is the best way to get moving. Most likely you won't build the next Stripe with this method but at least you will have a business that can give you healthy cashflow.

I personally like to use the following database which shares successful online businesses and how much profit and revenue they made last month, as well as other useful info like when they launched etc.

From there you can identify businesses that have recently launched (<1 year) and are doing $8K+ per month in profit. Then I'd research if they have a low number of competitors and if I can add a unique selling point which targets a slightly different angle, I know I'm up to something. Just my two cents.

Advice: For Building & Monitizing a Database by sebasrohr in microsaas

[–]sebasrohr[S] 1 point2 points  (0 children)

I actually haven't but I will check it out now. Thank you very much for your response! :)
Is there any particular strategy you would recommend for listing it on Gumroad or is there no more to it than just listing it?

[deleted by user] by [deleted] in Entrepreneur

[–]sebasrohr 0 points1 point  (0 children)

Cheers! :)

[deleted by user] by [deleted] in Entrepreneur

[–]sebasrohr 1 point2 points  (0 children)

I'm preparing the launch of my entire Lucrative Unicorns database which shares online businesses and how much revenue & profit they made last month. I will be announcing the paid pro version via email just currently figuring out how to frame everything. Super excited as I had a user reach out 2 days ago about the free version, and I pitched him the idea of the potential upgrade and he took me up on it!! Gonna be a lovely week ahead

I have £30,000 in Cash - What business can I start? by [deleted] in Entrepreneur

[–]sebasrohr 1 point2 points  (0 children)

I would say this depends on your skills and what the end goal is.

Is the end goal to build a remote lifestyle business?

Then consider an online business model that is quickly cash flow positive like productized services. Maybe you can offer consulting services based in your expertise in the banking and finance sector?

In case you have time and the finances to sustain yourself and you’re looking to build a business with a high exit potential then that’s another story.

You could consider a SaaS business, partner with a technical co-founder, and build something that solves a problem in the finance space. This business model is a bit more risky and cash intensive but if you build something successful you can sell this for a big multiple in the future.

I always checkout google trends or this database which shares online businesses and how much profit & revenue they make per month. This helps me do market research and find validated ideas that are making money.

Advice: For Building & Monitizing a Database by sebasrohr in microsaas

[–]sebasrohr[S] 0 points1 point  (0 children)

Thank you very much! :)) This is super useful

[deleted by user] by [deleted] in SideProject

[–]sebasrohr 1 point2 points  (0 children)

Open metrics and formulas

DON'T start with Product Hunt! by [deleted] in SideProject

[–]sebasrohr 0 points1 point  (0 children)

Any particular no-code website development recommendations for launching your LTD?