Here’s your problem. Now brace yourself. This may sting a little…
You’re too busy earning a living to make real money. There it is, I said. But what do I mean? I’m glad you asked.
You see, in the words of ‘The Great Andrew Tate’, “You’re living in the matrix”, my friend. The money you make is directly connected to the time you work—a bad combination.
That means as your work stops, so does your money. Not me. I’ll write this article once. But it’ll be sent out hundreds of times. Revenue grows, but my ‘work’ stays the same. That’s called leverage.
Anyway, I’m not writing this to make you feel bad. Instead, my job is to break you out of the Matrix. So follow me through to your problem.
The reason you haven’t started (a business) isn’t a lack of funds. You’re a footballer. It certainly isn’t information. You’re subscribed to the best damn newsletter on the planet. So what is it?
Time.
But not to worry. I have a solution… What if I told you, you could make heaps of money without making, selling or shipping anything?
Too good to be true?
Introducing the world of marketplaces. This is where sellers and buyers come together online. Amazon, eBay, Air BnB, Uber. All examples of thriving marketplaces. But in all cases, you’re the buyer, not the seller.
Now let me ask you. Which seller makes the most money on Amazon? That’s right, Amazon! So enough of the small boy stuff. Let’s make our own.
WAIT! Hold up just a second! Here at Ball Business, we have a saying: niches get riches. So, when you think MARKETPLACE, don’t actually think Amazon. You need to be more specific.
This example will hit home.
Julian Joachim (ex-Aston Villa, Leicester City) has founded two marketplace businesses.
The first is PlayerTrader, an online platform helping footballers at all levels get noticed. It is a digital football agency & scouting platform in one.
They have 3000 registered players and over 100 verified scouts. In this marketplace, the sellers (the players) showcase themselves to the buyers (the clubs/agents).
His second is named True Fans. A social media platform that brings football fans closer to their favourite players.
Fans pay to interact with players, send direct messages, get replies, ask questions, and see exclusive content.
The sellers (the players) sell their time to the buyers (the fans) looking for access to their lives.
Both are good ideas. But at Ball Business, we’re told to tell it how it is. I don’t love the execution of either of them. We could do better.
What Marketplaces Need
Network. A marketplace needs attention. Without it, there’s no product; thus, no customers. Just imagine if Air BnB had no homes. Disaster.
Both of Julian’s businesses lack a solid social media presence. Today that means young people (footballers and fans) don’t know them.
An app like True Fans needs ready and waiting users. That’ll give opportunities for players to make serious money, driving higher-profile players to sign up.
And what will high-profile players bring with them? That’s right, more fans.
If I owned this app, I would make it quick and easy for fans to share the content on social media. This would increase our popularity.
I would also consider a referral program, so players were incentivised to get their teammates on it. This would help them earn more and grow the overall list.
Exchange Value
Marketplaces need to justify their commission.
If your sellers need to deliver their services in a specific time frame (think hairdresser, cleaner, or Air BnB), you can help them manage their availability with a scheduling tool.
A marketplace’s job is to make the transaction as smooth as possible. Take Uber. You never need to stop on the way for cash.
Demand
Is there any? Let’s say it solves a real problem. Will it happen time and time again? I’m Uber til I die. Why? Because it solves my problem repeatedly.
Julian’s PlayerTrader site helps players. It sucks not getting seen by scouts. It also solves a problem for scouts, who may be looking for a diamond in the rough.
But once a player finds a club, he won’t return to the platform for at least a season.
The scouts are already bombarded with information on players. How often will they be looking through thousands of unknown ones too?
It needs repeat traction on both sides. Infrequent interaction doesn’t build fans, pun intended.
Marketplaces for You
Focus your idea on one niche, a city or a specific vertical. Remember, from here, you can always move wider. After all, Uber added Uber Eats.
Here are some quick-fire ideas.
- Connect chefs with footballers
- A marketplace to hire footballers as influencers
- A platform for fans travelling to away games to sell their empty car seats
