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by replax
3593 days ago
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I've read your reddit threat and this one now and I'd like to let you know my somewhat knee jerk opinion. You say that you need a differentiator but that you feel you have one. For one, i think that if information is indeed your only differtiator (nd's jars look good enough) then nootropics might be the wrong market. most people getting into nootropics do so because they have already read a lot and tend to be better informed, thus degrading that differentiator significantly. People who dont know much about nootropics will be hesitant to try them at such high prices and even if they do once, you won't necessarily get repeat businesses out of them. the venture you are starting should be validated with a good study beforehand as you are essentially trying to sell information repeatedly to folks who know googleing well. As you can see with amazon, which is in a business similar to yours, customers care most about price and then about convenience and security (refunds etc). the information amazon provides about the products they sell is shit at best and the website does not look good either. furthermore, nootropics cannot be tried easily and then be refunded, as many need eg two weeks of consistent use to be able to feel a difference. in my opinion, approach your businesses not as a startup but rather as a shop would. define the customers, their needs, do interviews and then decide if it is worth getting into |
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As for Amazon... I'd think they're closer to Powder City? The focus on low cost seems to match, anyway. I'm not sure if the your model of priorities of customers applies to literally everyone — we're not trying to capture the entire nootropics market at this point, as that would seem doomed to fail.
Your final advice sounds very much like the lean startup approach — and I will readily admit that we've not been very lean, and that a lean approach would have been better. But yeah, better to gather info now than not at all.