I have an ill defined idea for a business. A marketplace type business. Connecting service providers with customers. There are some well-established competitors already, there's obviously money there and it's a growing market segment. I have the technical skills to make the website and build the actual thing.
So my question is how do I validate this idea of "making a platform" without making a whole marketplace-type site and marketing it? I don't have any unique ideas besides maybe a better UI/branding. I just don't want to waste my time making a site that has no chance of succeeding against established competitors. I'm not afraid to spend some money testing this, are there any services that could turn my two line business plan into a proper plan?
Any advice appreciated on the process of realizing an idea. Turning it into a business. Again, it's not something unique and companies are already doing it. So maybe I should start with the marketing then? Just kind of unsure on where to start.
And you're trying to validate what now ?
Competition has already validated the market.
You need to figure what you bring to the table cheaper prices, customer support, faster service etc.
Next find what type of business is likely to use your platform and somehow figure out what would get them onboard.
Now start building something and have someone aggressively market this in parallel.
If the stars align you'll have some signups. Now you have real people, real data to see what works, whats missing and what could be better.
Now comes the part where you try to make money to cover up your losses so far and hopefully be net positive.
In established markets, you need great execution and know to read customer minds.