The hardest part of any business is the beginning, but this is especially true for marketplace companies because you have a classic chicken-egg problem.
Specifically, buyers don’t visit the site because you’re obscure and lack inventory, but sellers aren’t interested in listing because there’s no buyers.
It’s worse than it sounds because you also have what Jason calls the double company problem: You’re trying to build two companies at the same time, and both have to succeed or you’re dead.
MastermindJam is a marketplace, as much as I try to ignore that fact, and it's proving to be crazy difficult to grow. So I come back to this article often to ruminate on it and think of new approaches.Read more...