How to monetize the curation economy, social communities & online learning
Note: This article is part of my toolkit newsletters↗️ where I share resources about building things. Join me :)
👋 I’m Zoe Chew, a product builder in tech. I’ve built & launched multiple products & apps using the rapid MVP method: sneaker app, personal FAQ, meal kit app, virtual event app, SaaS tracker, online food delivery +more
Lately, I’m on a personal quest to understand the future of the Internet and how we can improve other people’s lives through product creation.
James Currier’s quote on his blog led me to think about how I want to spend my time & energy as a builder:
It’s just as hard to build a mediocre company as a transformative one. Both will take 100% of your time. So you might as well work on a bigger idea.
Therefore, I’m starting VentureScale, tech analysis to help first-time and second-time founders to identify new tech startup opportunities with revenue potential — analyzing at the intersection of Internet culture, consumer tech, and platform economy.
Part of it is helping myself to figure out the next project for my product studio. The other part is helping myself to think clearly through writing.
It also costs time to “build quickly and iterate” if it doesn’t work, so why not take the time to research deeply about a market, before committing your time to build so that less “pivot” or “back to square one” is required.
In this venture report, we will break down 3 market opportunities:
- Helping people to hang out with their peers (Future of social networks)
- Helping others to curate (Curation economy)
- Unbundling Zoom (EdTech)
Below is the PREVIEW of the report with research-based tech trends, product frameworks, revenue models to help you make better decisions on building the next thing.
(1) Verticalization of social networks. “Niche” social products are created to connect users with specific interests, audiences, or use cases. For example: Reddit is a social network for online forums; TikTok is like Instagram but focusing on short-form video content; Shuffle is like TikTok but for podcasts with audio clips sharing and social interaction.
- Help others to hang out with their peers. See — Startup Opportunity #1.
(2) Curation is becoming the new business model. People are paying money to access good quality curation. Curators are becoming the new creators. Flow State charges $8/month to get access to curated Spotify playlists. TheBrowser charges $5/month to access outstanding stories from the Internet.
- Help others to curate resources and make money. See — Startup Opportunity #2.
(3) The future of classroom will be a totally immersive experience. COVID-19 has accelerated the mass adoption of online education. New companies are created to help educators who are struggling to manage online interaction, lectures, and engagement with students, for example:
- Create tools to help teachers facilitate effective online teaching and enhance the learning experience of students. See — Startup Opportunity #3.
- (📥 Full version) 3 edtech players solving the online education problems
#1: Find a workout buddy
A community-based workout app for finding a virtual workout buddy. Train together, stay committed, keep each other accountable and crush your fitness goals. Think GetMotivatedBuddies but for fitness.
- People who struggle with staying consistent with their exercise habits.
- (📥 Full version) 2 more target audience descriptions.
- It’s easy to break an exercise habit when you are doing it alone.
- (📥 Full version) 2 more problem definition examples.
- Accountability partner. Able to find virtual fitness buddies, set up exercise sessions, select availability on a calendar to meet their accountability partner via 1:1 or group-based sessions.
- Community events. Group-based workout events hosted by the users. Built-in event tool to host your own fitness events and build your fitness community.
- (📥 Full version) 4 more solutions and feature examples in detail.
- Subscription, $14/month. Charge users to access the full features of the platform, I.e.
- (📥 Full version) 6 features you can charge money for
- (📥 Full version) 3 more revenue streams to add to your pricing strategy.
Industries: Consumer Social, Fitness, SaaS
Business model: Subscription, Freemium
Market risk: ◼️◼️◻️◻️◻️ Lower because (1) virtual gym is becoming more familiar due to COVID and people are more likely to adopt at-home fitness
- (📥 Full version) 2 more research evidence to prove the validity of the market
Execution risk: ◼️◼️◼️◻️◻️ Medium because it requires the (1) ability to onboard, match users, and schedule 1:1 calls, which can be done through (see below) (2) Can you execute a product to truly differentiate? Since online fitness is a large market, therefore, higher competition risks in the same category with big players. The solution can be playing in another segment. For example, instead of competing with on-demand fitness class streaming, i.e. ClassPass, FitnessOnDemand, focus on becoming a “community workout app”.
- (📥 Full version) 3 tools for initial-stage product development to gain traction
Moat: (1) Create an unfair advantage by owning the phrases “online fitness” or “fitness app”, through
- (📥 Full version) 3 examples to own a phrase
- (📥 Full version) 1 more way to create a business moat
Get the full version of this single report:
- 🔑 Breakdown of Startup Opportunity #1 (Helping others to start their own community, future of social networks)
- 🔑 Breakdown of Startup Opportunity #2 (Make money by helping others to curate, curation economy)
- 🔑 Breakdown of Startup Opportunity #3 (Unbundling Zoom, EdTech)
All 3 ideas combined, you will unlock:
- 🔑 3 startup opportunities breakdown in 1 report
- 🔑 7 target audience definitions
- 🔑 10 problem definition examples
- 🔑 13 solutions and feature examples in detail
- 🔑 10 revenue streams you can create to monetize your startup ideas
- 🔑 20 in-depth evaluations on each startup idea and how to prove market potential and create competitive advantages