Sell and buy rather than buy and sell

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It is difficult to know what product or service will sell in the marketplace. Given the significant amount of time to create a product or setup a service it can be more practical to try to sell first. Running ads online and creating a simple website using wordpress can allow you to test the level of demand in the marketplace. If you are unable to sell your straw man product or service there is a good chance when you put the real thing together you wont either. In other cases, if the customer is willing to wait, you can make the sale and go buy the product/service elsewhere at a lower price. Eliminating any risk.

Instead of diving into the marketplace  you can dip your toe in first to check the level of demand for your new venture. You can setup a simple website for under €400. Websites like upwork and CMSs like wordpress the cost of setting up a simple website have drastically reduced. You can get a simple logo designed for $50 on upwork. To buy a .ie domain, you’ll need to register the business name with the CRO via core.ie, cost €20. Cost of the domain will be roughly €25.

There are plenty of tutorials on youtube on how to use wordpress. You can write content and add products and services to your website. You can run low cost ads on facebook and google. The analytics from these ad campaigns will tell you if people are interested in your new business by the number of clicks you get. On your website you can also know if users are clicking on the buy button.

If this process is for you depends heavily on the business venture you want to start. If you need to hire a developer to build a custom website which can cost more then €10,000 then it is something you should do.

Try to build the most simple product/service first and get feedback. For example, instead of building a fully automated solution where users can book a cleaner and the cleaner gets a notification, build a simple website with just a list of cleaners. One where you have to do a lot of things manually first. At the start you won’t have many orders so it shouldn’t be a problem doing this manually. As the number of customers grows you can then add functionality. This way drastically reduces your financial risk.

The idea for this article was taken from the four hour work week by Tim Ferriss.