Thinking about the startups and what makes them click...Especially in the e commmerce / internet space thats flooded by startups that have similar offerings, why some work while most others dont?
Well , as an ardent observer and participant in the space have my take on some examples and what minor changes made them stand apart especially in front of the VCs
MotorExchange
There are many car sites but what sets this one apart:
a) Focus only on the used cars
b) Adding value by using ON and OFF - Offline vehicle certification followed with Online updating and bidding..... looks like they took a leaf from the way used cars are sold within organizations and implemented this well.
The model is great as with the growing premium on space and busyness don’t think going forward ppl would ideally want to sell their cars offline through brokers and will be happy if an on/ off solution could help them get a good price for their old wheels and won’t even mind giving a success based brokerage on sales (thereby giving the portal a solid revenue stream)
Believe the strategy has been implemented well and they have created a good will with the TG. They can probably get few RMs (relationship managers) for the prospects who are busy/ lazy and don’t want to show their car around to 10 plus buyers and can pay some more brokerage for additional value add.
Will look at some more cases shortly and will be happy to hear the views.
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