Where the market fails online dating consolidating healthcare organizations
“It spreads like wildfire when launched – especially if at a school – but does not retain users,” Mc Leod explained.
“Users join, list their crushes, and maybe have a couple successes – but have no reason to go back to the site or stay engaged.
Yet almost no one in this business makes any money, since it comes with a larger list of challenges than most other opportunities I see.
Related: This Dating App Lets Your Actual Heart Choose Your Matches Thus, I encourage you to consider these challenges as reality checks for your own business idea -- dating or otherwise -- before spending all your time and someone else’s money in vain.
Online dating is "an incredibly unsatisfying experience," says Duke behavioral economics professor Dan Ariely, the author of "Predictably Irrational." In fact, his research has found that each date you set up using online services requires an average of six hours of searching for people and emailing with them.
"I mean, imagine that you basically had to drive six hours, three hours each way to have coffee with somebody, and, you know, coffee usually ends up with just coffee." Part of the problem, according to Ariely, is the search criteria that dating sites use.
If you check your market on Google and find numbers like these, I suggest you look for another opportunity where the number of competitors you can find is less than 10.Facebook spent 0 million before positive cash flow.For a new startup, the best way to assure survival is to file patents or other intellectual property to keep future competitors from copying your success.When we go to a party and they dance or do something, I can’t believe that any of their parents would want to do anything but look in my kids, right? They are my kids, I think they are wonderful, but, not only that, I think that other people should see them as wonderful as I see them.And the same thing happened with origami or with everything we make, not only do we overvalue it, we think that everybody will share our perspective."Trust and revenge also figure significantly into Ariely's research.
Many business opportunities, like this one, need thousands or millions of existing users before new users and advertisers are interested to pay real money.