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Please critique my business idea

 
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adrianp

posts: 2

Jul 04, 2012 3:18 PM ET    Quote  Report Abuse
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Hi,

My idea is basically an online social storytelling platform. We tell stories everyday -- whether it's through a Facebook profile (a story about our lives, what we are up to, etc.), more formally through slidedecks (e.g., in a school) or by selling a service (product demos, YouTube, blogs, etc.), we wanted to connect to those interested in our stories and collaboratively interact and share our experience.

The problem is that currently, most story telling methods are one-direction only. For example, a couple might want to share their wedding day story with the attendees of the wedding -- sharing photos of the event, stories on how they met, etc.  Often, this information is scattered everywhere (posted on the couple's facebook pages, uploaded to YouTube, etc.) so it's difficult to get the full experience -- also, the information flow mostly from the couples to the attendee, which makes the stories one-dimensional -- which my product will hopefully change.  In this case, the couple will create a story and share the link to the attendees.  The attendees can extend the story by contributing their own media files or linking to their own stories (e.g., the wedding planner can create "the making of" stories for those interested, also as a way to promote her business); stories are always "live" as they are constantly updated, linked stories allow viewers to explore new interests.

The key of the product will be the social nature of the applications, allowing stories to be built on stories; To "kick start" the network of stories, the business will operate on a freemium model.

There are some storytelling platform products out there already, but few of them focus on the social aspect of the stories and hopefully this could be the differiator:

1) Facebook: the event pages would be similar; we hope to differiate by having the ability to link stories and also by allowing the users to contribute without being a facebook member.

2) numerous slide sharing platforms (Slideshare and many of its competitors) -- excellent presentation

The use of this product could also be extended to other uses, like as a project for the classrooms -- for example, as a digital yearbook for students, or as a research project for learning a particular topic. 

Does this idea sounds like it could work?

Thanks...

Adrian 



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saliviyajonathan

posts: 100

Jul 05, 2012 2:41 AM ET    Quote  Report Abuse
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I heard first time about this service as I was not aware that a story can also told in this way. Actually you are saying right that most of couple share their photos and videos on you tube and face book and what may be other idea of expressing their story. I have an idea that you can make some greeting in which you should mention that how you met and what are your memorable days and what you like in your life partner.

 



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johnmaddy12

posts: 3

Jul 09, 2012 5:12 AM ET    Quote  Report Abuse
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I this is the completely new business in the market if you will start so i want to suggest you that  before starting the business you should check the market condition. Because in any business market plays a important role. After that if you think that you can start it in well manner then you can start it easily.

 

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CateDS

posts: 13

Jul 30, 2012 8:57 PM ET    Quote  Report Abuse
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Adrian

This sounds like quite a unique business - I can see the attraction for signicant life milestones like a wedding anniversary, or significant birthday. I think I would do it as a gift for another person, but not for myself.

I think by starting it as Freemium you have a good start... I would suggest doing a few stories yourselves to start, maybe as a gift to some of your significant family or friends, it may pick up as a viral experience.

I suggest making the interface VERY intuitive... to the point of identical to some existing platform with which people are familiar... and making drag and drop very simple to do. Maybe link it in with flikr, pinterest, fb and so on, and draw content from those places?

It would be an interesting experiment - maybe that is how you need to proceed, as an experiment, expecting nothing but hoping for the best.

Good luck! Let me know how you get on! I am fascinated to see if it catches on :D



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Jrsytomato

posts: 2

Aug 05, 2012 9:39 PM ET    Quote  Report Abuse
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I also think it is very unique and I love the idea personally although I am cheap and I would never pay for something like this especially with "close enough" free sites and software available already.  So, just like the previous poster said I would definitely do extensive market research before investing your life savings into it especially in today's economy where people aren't spending as much on items that they don't necessarily need to survive.  

You may be able to add a feature where the original user lists all their guests and others who they would like to participate and asks them to fill in their email address as well in order to send them an automatic email invitation which offers them a free basic membership where they can only view and not add any content.  The free basic memberships tend to be more enticing to purchase when there are fun things to do that only paid members are permitted to do.  This is especially true if all of their friends are participating and they are left out.  The more of these there are the more the person wants to pay.  

For example one idea off the top of my head is a "Caption Contest" that all can see but only paid members can submit and win points for rankings.  There are so many possibilities if you give consumers what they want or something incredibly unique that people like it so much that they tell others and create a buzz about it.

Good luck!  I would love to hear about your progress along the way.  

 

Erika



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infinique3

posts: 161

Aug 28, 2012 9:55 AM ET    Quote  Report Abuse
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I think it lagged depth.



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