Startup Funding Espresso – Expanding a Marketplace Business

Expanding a Marketplace Business Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. After launching your marketplace business you'll start work on expanding it. For the supply side, you want to increase the engagement with the suppliers. Instead of being one source of many to your suppliers, you want to become their primary source. You can do so by setting up technical connections with the suppliers making it more difficult for others to gain access. You can increase support to turn your suppliers from users into advocates promoting your brand. For the demand side, you want to expand the number of buyers. This could be done by adding more buyers from other geographies or finding new types of buyers in the same geographic area. This could also be done by expanding the products offered to the buyers so you have the best or most selection. Finally, you can expand your marketplace to a larger geographic area such as Europe or Asia connecting both buyers and sellers. This could eventually lead to a global marketplace. Expanding your business will require a new set of tactics from those used in launching the marketplace. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Investors check out: https://tencapital.group/investor-landing/ For Startups check out: https://tencapital.group/company-landing/ For eGuides check out: https://tencapital.group/education/ For upcoming Events, check out https://tencapital.group/events/ For Feedback please contact [email protected] Please follow, share, and leave a review. Music courtesy of Bensound.