[saiine]

[quote=Rich Toscano]And just like that, Piggington forum content drops by 90%.[/quote]

Upvote.. oh wait this isn’t reddit

[saiine]

[quote=Rich Toscano]And just like that, Piggington forum content drops by 90%.[/quote]

Upvote.. oh wait this isn’t reddit

[saiine]

[quote=CA renter]
But what you’ve brought up here has been a mystery to me. Why have these new sites succeeded when there seemed to be plenty of perfectly adequate sites before? [/quote]

They’ve succeeded for many reasons, but two specific qualities that stand out to me are:

1. They believed in their vision to solve a particular problem and ignored the assumptions that it was already solved or was being solved.

I’m a believer of leaving out the section of a business plan which requires you to research your competition. I believe it can cause more harm then good to your thought process.

2. In the instance of Facebook, they recognized something that a lot of people (including myself) were in denial about for a long time. That is, people want to share everything, they do not want privacy.

It might be foreign to some generations but to new generations, sharing what you’re doing, eating, thinking and watching is standard. Obviously to recognize that, believe in that and execute on that is powerful.

[saiine]

[quote=CA renter]
But what you’ve brought up here has been a mystery to me. Why have these new sites succeeded when there seemed to be plenty of perfectly adequate sites before? [/quote]

They’ve succeeded for many reasons, but two specific qualities that stand out to me are:

1. They believed in their vision to solve a particular problem and ignored the assumptions that it was already solved or was being solved.

I’m a believer of leaving out the section of a business plan which requires you to research your competition. I believe it can cause more harm then good to your thought process.

2. In the instance of Facebook, they recognized something that a lot of people (including myself) were in denial about for a long time. That is, people want to share everything, they do not want privacy.

It might be foreign to some generations but to new generations, sharing what you’re doing, eating, thinking and watching is standard. Obviously to recognize that, believe in that and execute on that is powerful.

[saiine]

[quote=CA renter]
But what you’ve brought up here has been a mystery to me. Why have these new sites succeeded when there seemed to be plenty of perfectly adequate sites before? [/quote]

They’ve succeeded for many reasons, but two specific qualities that stand out to me are:

1. They believed in their vision to solve a particular problem and ignored the assumptions that it was already solved or was being solved.

I’m a believer of leaving out the section of a business plan which requires you to research your competition. I believe it can cause more harm then good to your thought process.

2. In the instance of Facebook, they recognized something that a lot of people (including myself) were in denial about for a long time. That is, people want to share everything, they do not want privacy.

It might be foreign to some generations but to new generations, sharing what you’re doing, eating, thinking and watching is standard. Obviously to recognize that, believe in that and execute on that is powerful.

[saiine]

[quote=CA renter]
But what you’ve brought up here has been a mystery to me. Why have these new sites succeeded when there seemed to be plenty of perfectly adequate sites before? [/quote]

They’ve succeeded for many reasons, but two specific qualities that stand out to me are:

1. They believed in their vision to solve a particular problem and ignored the assumptions that it was already solved or was being solved.

I’m a believer of leaving out the section of a business plan which requires you to research your competition. I believe it can cause more harm then good to your thought process.

2. In the instance of Facebook, they recognized something that a lot of people (including myself) were in denial about for a long time. That is, people want to share everything, they do not want privacy.

It might be foreign to some generations but to new generations, sharing what you’re doing, eating, thinking and watching is standard. Obviously to recognize that, believe in that and execute on that is powerful.

[saiine]

[quote=CA renter]
But what you’ve brought up here has been a mystery to me. Why have these new sites succeeded when there seemed to be plenty of perfectly adequate sites before? [/quote]

They’ve succeeded for many reasons, but two specific qualities that stand out to me are:

1. They believed in their vision to solve a particular problem and ignored the assumptions that it was already solved or was being solved.

I’m a believer of leaving out the section of a business plan which requires you to research your competition. I believe it can cause more harm then good to your thought process.

2. In the instance of Facebook, they recognized something that a lot of people (including myself) were in denial about for a long time. That is, people want to share everything, they do not want privacy.

It might be foreign to some generations but to new generations, sharing what you’re doing, eating, thinking and watching is standard. Obviously to recognize that, believe in that and execute on that is powerful.

[saiine]

[quote=flu][quote=Diego Mamani][quote=flu]Take a look at the frozen yogurt place in UTC (…) Average customer spends $5.50 on frozen yogurt. The cost of their material probably around $0.50 cents. You do the math….[/quote]

…And the store’s rent probably comes to $2.50 per yogurt unit sold. And all the equipment and decoration? The bank loan payment probably adds another $2.25 per unit… YOU do the math! LOL.[/quote]

..Well, I use to lol at this, because I was approached by a friend who wanted to seek a partnership to start said frozen yogurt places a few years ago. (Needed seed money)…I passed… He now has 4 locations spread around So Cal. His worst location NETS him on average $30k per month per location after rent+extortion(split profits)/payroll/insurance, etc……..Not bad, considering he rarely, if at all shows up for “work”….

That yogurt place must be making a killing, otherwise westfield would have kicked them out of of that location long time ago, since it’s almost a killer retail location….

You can also laugh all you want at those people that sell hot dogs and kettle corn at the county fairs…But I’m pretty sure if you follow those guys around the country for 3-6 months per year, they can probably bring in probably more than most white collar geeks (unfortunately, I don’t know of any folks in that category)[/quote]

Brick and mortar businesses pose a much higher risk than say, developing an app or website.

I would argue food service specifically is one of the riskiest and most difficult models to get off the ground.

I know several individuals who have started food service businesses, including a NY’er who specialized in hot dogs (which were amazing), and 99% of those businesses failed.

You’re friend is fortunate, but in my opinion there is more potential to test the waters and keep startup costs to a minimum with tech, especially if you’re a developer.

[saiine]

[quote=flu][quote=Diego Mamani][quote=flu]Take a look at the frozen yogurt place in UTC (…) Average customer spends $5.50 on frozen yogurt. The cost of their material probably around $0.50 cents. You do the math….[/quote]

…And the store’s rent probably comes to $2.50 per yogurt unit sold. And all the equipment and decoration? The bank loan payment probably adds another $2.25 per unit… YOU do the math! LOL.[/quote]

..Well, I use to lol at this, because I was approached by a friend who wanted to seek a partnership to start said frozen yogurt places a few years ago. (Needed seed money)…I passed… He now has 4 locations spread around So Cal. His worst location NETS him on average $30k per month per location after rent+extortion(split profits)/payroll/insurance, etc……..Not bad, considering he rarely, if at all shows up for “work”….

That yogurt place must be making a killing, otherwise westfield would have kicked them out of of that location long time ago, since it’s almost a killer retail location….

You can also laugh all you want at those people that sell hot dogs and kettle corn at the county fairs…But I’m pretty sure if you follow those guys around the country for 3-6 months per year, they can probably bring in probably more than most white collar geeks (unfortunately, I don’t know of any folks in that category)[/quote]

Brick and mortar businesses pose a much higher risk than say, developing an app or website.

I would argue food service specifically is one of the riskiest and most difficult models to get off the ground.

I know several individuals who have started food service businesses, including a NY’er who specialized in hot dogs (which were amazing), and 99% of those businesses failed.

You’re friend is fortunate, but in my opinion there is more potential to test the waters and keep startup costs to a minimum with tech, especially if you’re a developer.

[saiine]

[quote=flu][quote=Diego Mamani][quote=flu]Take a look at the frozen yogurt place in UTC (…) Average customer spends $5.50 on frozen yogurt. The cost of their material probably around $0.50 cents. You do the math….[/quote]

…And the store’s rent probably comes to $2.50 per yogurt unit sold. And all the equipment and decoration? The bank loan payment probably adds another $2.25 per unit… YOU do the math! LOL.[/quote]

..Well, I use to lol at this, because I was approached by a friend who wanted to seek a partnership to start said frozen yogurt places a few years ago. (Needed seed money)…I passed… He now has 4 locations spread around So Cal. His worst location NETS him on average $30k per month per location after rent+extortion(split profits)/payroll/insurance, etc……..Not bad, considering he rarely, if at all shows up for “work”….

That yogurt place must be making a killing, otherwise westfield would have kicked them out of of that location long time ago, since it’s almost a killer retail location….

You can also laugh all you want at those people that sell hot dogs and kettle corn at the county fairs…But I’m pretty sure if you follow those guys around the country for 3-6 months per year, they can probably bring in probably more than most white collar geeks (unfortunately, I don’t know of any folks in that category)[/quote]

Brick and mortar businesses pose a much higher risk than say, developing an app or website.

I would argue food service specifically is one of the riskiest and most difficult models to get off the ground.

I know several individuals who have started food service businesses, including a NY’er who specialized in hot dogs (which were amazing), and 99% of those businesses failed.

You’re friend is fortunate, but in my opinion there is more potential to test the waters and keep startup costs to a minimum with tech, especially if you’re a developer.

[saiine]

[quote=flu][quote=Diego Mamani][quote=flu]Take a look at the frozen yogurt place in UTC (…) Average customer spends $5.50 on frozen yogurt. The cost of their material probably around $0.50 cents. You do the math….[/quote]

…And the store’s rent probably comes to $2.50 per yogurt unit sold. And all the equipment and decoration? The bank loan payment probably adds another $2.25 per unit… YOU do the math! LOL.[/quote]

..Well, I use to lol at this, because I was approached by a friend who wanted to seek a partnership to start said frozen yogurt places a few years ago. (Needed seed money)…I passed… He now has 4 locations spread around So Cal. His worst location NETS him on average $30k per month per location after rent+extortion(split profits)/payroll/insurance, etc……..Not bad, considering he rarely, if at all shows up for “work”….

That yogurt place must be making a killing, otherwise westfield would have kicked them out of of that location long time ago, since it’s almost a killer retail location….

You can also laugh all you want at those people that sell hot dogs and kettle corn at the county fairs…But I’m pretty sure if you follow those guys around the country for 3-6 months per year, they can probably bring in probably more than most white collar geeks (unfortunately, I don’t know of any folks in that category)[/quote]

Brick and mortar businesses pose a much higher risk than say, developing an app or website.

I would argue food service specifically is one of the riskiest and most difficult models to get off the ground.

I know several individuals who have started food service businesses, including a NY’er who specialized in hot dogs (which were amazing), and 99% of those businesses failed.

You’re friend is fortunate, but in my opinion there is more potential to test the waters and keep startup costs to a minimum with tech, especially if you’re a developer.

[saiine]

[quote=flu][quote=Diego Mamani][quote=flu]Take a look at the frozen yogurt place in UTC (…) Average customer spends $5.50 on frozen yogurt. The cost of their material probably around $0.50 cents. You do the math….[/quote]

…And the store’s rent probably comes to $2.50 per yogurt unit sold. And all the equipment and decoration? The bank loan payment probably adds another $2.25 per unit… YOU do the math! LOL.[/quote]

..Well, I use to lol at this, because I was approached by a friend who wanted to seek a partnership to start said frozen yogurt places a few years ago. (Needed seed money)…I passed… He now has 4 locations spread around So Cal. His worst location NETS him on average $30k per month per location after rent+extortion(split profits)/payroll/insurance, etc……..Not bad, considering he rarely, if at all shows up for “work”….

That yogurt place must be making a killing, otherwise westfield would have kicked them out of of that location long time ago, since it’s almost a killer retail location….

You can also laugh all you want at those people that sell hot dogs and kettle corn at the county fairs…But I’m pretty sure if you follow those guys around the country for 3-6 months per year, they can probably bring in probably more than most white collar geeks (unfortunately, I don’t know of any folks in that category)[/quote]

Brick and mortar businesses pose a much higher risk than say, developing an app or website.

I would argue food service specifically is one of the riskiest and most difficult models to get off the ground.

I know several individuals who have started food service businesses, including a NY’er who specialized in hot dogs (which were amazing), and 99% of those businesses failed.

You’re friend is fortunate, but in my opinion there is more potential to test the waters and keep startup costs to a minimum with tech, especially if you’re a developer.

[saiine]

It doesn’t take much to talk yourself out of a goal that will take tremendous amounts of work. I’d guess that the average entrepreneur could have convinced individuals that some of the most successful sites today would be pointless.

Facebook? Why not use myspace
Twitter? Why not just use myspace
Reddit/Digg? Why not just use delicious
Vimeo? Why not just use youtube

Etc..

The thing that makes Zuckerberg above average is that he executed, and kept executing.

It’s a waste of time to come to a forum and try to validate your idea. I understand the exercise, but at the end of the day it’s pointless. If you need validation then you do not love your idea, and if you don’t love your idea you probably shouldn’t do it.

[saiine]

It doesn’t take much to talk yourself out of a goal that will take tremendous amounts of work. I’d guess that the average entrepreneur could have convinced individuals that some of the most successful sites today would be pointless.

Facebook? Why not use myspace
Twitter? Why not just use myspace
Reddit/Digg? Why not just use delicious
Vimeo? Why not just use youtube

Etc..

The thing that makes Zuckerberg above average is that he executed, and kept executing.

It’s a waste of time to come to a forum and try to validate your idea. I understand the exercise, but at the end of the day it’s pointless. If you need validation then you do not love your idea, and if you don’t love your idea you probably shouldn’t do it.

[saiine]

It doesn’t take much to talk yourself out of a goal that will take tremendous amounts of work. I’d guess that the average entrepreneur could have convinced individuals that some of the most successful sites today would be pointless.

Facebook? Why not use myspace
Twitter? Why not just use myspace
Reddit/Digg? Why not just use delicious
Vimeo? Why not just use youtube

Etc..

The thing that makes Zuckerberg above average is that he executed, and kept executing.

It’s a waste of time to come to a forum and try to validate your idea. I understand the exercise, but at the end of the day it’s pointless. If you need validation then you do not love your idea, and if you don’t love your idea you probably shouldn’t do it.

[Author]

Posts