Forums: Discussions for entrepreneurs and small business.

I have a website I'm currently developing - www.stockresearchreports.org.

 

I have contracts with data providers to get stock feeds and I will then provide access to a stock screener (ways of filtering stocks to find what you're looking for).

I will also offer some portfolio tools that can help a user figure out how much risk they are taking on (you enter your stocks, the software analyzes your portfolio).  As well, it will ask users to enter if some personal information (income, age, retirement goals, etc) and create recommended investment portfolios for them.

I'm looking to charge members nothing at first, then a monthly fee of $39.99 once the bugs are worked out.

 

I'm also looking to produce research reports for sale at the cost of $100 each (industry and specific stock reports).

 

Finally, I will offer free 'penny stock pick' newsletters, and hopefully get a big enough list that I can sell advertising on the newsletters.

 

 

Okay, that's my plan. 

 

Destroy me, I'm ready.

Ok. I don't think that there's anything wrong with your plan for as a long as it's a little more detailed than what you posted. What's your background? Are you a researcher, financial analyst, or webbie with a fable for finance?

Since you're obviously using a boiler plate website template, I don't think the latter is the case here.

So, given that there are probably a couple of hundred stock screening tools, portfolio managing tools, and newsletters out there already, some of which have prominent backing and are free of charge, why do you think people will be paying for yours?

Of course, I could be wrong as I don't know nothing about you. On the other hand if you were a hotshot broker or money manager, you'd be hardly spending your time putting this on the Web.

I think my message is that you'll need to find your niche and a few very distinguishing factors that set you apart from what's out there already!

Good Luck!

Mark

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Jackson Steiner
http://www.JacksonSteiner.com

Advanced Document Design for entrepreneurs, intermediaries, and the financial services industry.
http://www.Publications.FastVentures.com

My background is engineering and finance; specifically I have experience working with a major bank in Canada and currently work for a consulting company that services major US and CAD brokerage firms.

 

My basic pitch is this:

For free I will offer users access to the most of the screening tool features, some basic portfolio analysis, a "hot picks" section and the newsletter.

For a fee, I will offer advanced screening such as stock movement signals, unique screening (healthcare stocks currently close to a 52-week high, gold stocks in a certain region of Ontario) and some unique visuals to compare two stocks side by side.

I will also offer portfolio recommendations based on a user's age, income, retirement goals etc - but once I get enough users entering this information, I will also have a 'market of peers' that users can compare themselves to.

 

 

Here's the thing, I believe the screener and the portfolio tools will be better than what's currently out there, but my pitch will also be "simpler, easier to use". 

Finally, there are a lot of tools out there that ARE currently charging, currently crappy, and currently doing very well.