My First Million #207 - How to Make Millions by Unbundling Etsy
7 snips
Aug 6, 2021 Dive into a goldmine of ideas, including the potential of unbundling Etsy into niche marketplaces. The elevator industry gets dissected, revealing its unique challenges and growth opportunities. Learn about a novel training program that transforms beginners into MMA fighters. Plus, the podcast explores the allure of Canada's tax incentives for startups. With discussions on creative marketing strategies, resilient business models, and even celebrity acquisitions, there's plenty of entrepreneurial inspiration to ignite your imagination!
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Elevator Industry Control
- Only four companies control the entire elevator industry, including Otis, Schindler, Kone, and Mitsubishi.
- These companies operate on long-term contracts, making management complex for building owners like Target.
B-Class Marketplace Opportunities
- Consider "B-class" marketplaces like Etsy and Poshmark for opportunities.
- These platforms have potential for growth and innovation due to less competition.
SaaS for Second-Tier Marketplaces
- Build SaaS tools for sellers on second-tier marketplaces like Etsy or Poshmark.
- Such tools are not yet well-developed, presenting an opportunity.
