Startup Funding Espresso – Solving the Chicken and Egg Problem

Solving the Chicken and Egg Problem Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In launching a marketplace platform you must solve the chicken and egg problem. You must have supply to engage buyers and buyers to engage suppliers. In the early days, you'll need to do things that don't scale such as recruit supply that is not in the network for a particular buyer and more. Here are some steps to overcome the chicken and egg problem: Build a community out of suppliers and buyers and then connect them for the transaction. Offer free tools that engage buyers and suppliers into the same group. Provide supply in the form of a showcase as a starting point. Start with existing networks such as angel groups, universities, or social groups and then transact the business. Sign up a business that will pay for the supply. This funds the operation while you find other buyers to join the platform. Scrape the website for lists of buyers and sellers. Start small and then expand to a larger supply and number of buyers. 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.