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26 contributions to Accelerator University
What should be the pricing strategy of my Startup
Hey there, I launched my startup a few weeks ago. It provides mentorship services to the mentees, in which multiple mentors can join. The startup is called Mently. 1st Concern Initially, I set up the pricing strategy like this: the mentor will set up the pricing themselves, and I will increase it by 20% to take the total amount from the mentee. Other mentorship platform like Intro, Topmate, etc, provides an individual pricing model, but I wanted to make it simple and shift from the individual pricing to the subscription model so that the user can easily choose, and services will be packaged in 2 or 3 subscriptions I am saying this because I am thinking about the user who will pay and not about the mentors who will receive. 2nd Concern At first, I am picking the tech mentors because my community is based on it, but from years of experience, I noticed that many techies want the free stuff because they're broke and want to get a job. For this reason, many free coding channels, like Freecodecamp, are providing so much that I don't know whether these techies will take my services. Again, in the individual pricing model, many mentors set up their pricing up 200 USD also which is so high for these tech students. Should I target other niches for mently like lonely people or business people, etc, who want to learn something, and they need a mentor. 3rd Concern A friend of mine also said that I should focus on the B2B model because the margin is high there. He was talking about the context of tech students, but Mently can also be broadened to other niches if the tech niche didn't work. I need your advice regarding these concerns
When should be the product launch?
With a landing page, I got 7 people who gave me an email address and showed interest, but didn't pay for the service. Do you think it's a good sign for me to create a complete product page now or find a paying customer(s) and then move to building a product page? Here is the landing page link: https://mently.cc Currently all the process is done statically through the landing page.
I have $400 in my account and I want execute my idea. What are the initial steps required?
πŸŽ‰ NEED GUIDANCE πŸŽ‰ I have $400 in my account, and I have an idea where I am planning to connect students with teachers, where teachers can provide multiple services, and not be just limited to recorded videos. I usually ask 40 people every day. Most of them don't reply, but 4 people showed their interest by saying that they will pay for those services. I didn't contact the teachers yet because someone will agree if the students will be present. A friend of mine said that I should target the executives instead of the ordinary people who are generally broke. Now, what should be my next step? I don't have a website, newsletter, or anything. I just DM people and ask them. Should I ask students and then work on building a website, or what should be done actually? The main purpose is to generate revenue instead of spending on fancy things. Now, how to utilize my $400 to validate the idea and get at least my first paying customer.
2 likes β€’ Jun 23
@Niki Weiss I launched my startup yesterday and people liked it. I got 7 custemers who agreed to pay but all they decided to pay was only $10 for each of the service. Even if I take the 20 percent cut, which teacher will teacher will 8 dollars.
2 likes β€’ Jun 23
@Niki Weiss A friend of mine told to combine those numbers and convince a teacher to provide a group mentorship like 1 to many. I thought that's a nice idea but after sending messages to all the 7 people, nobody replied.
I launched my startup yesterday and got 7 paying customers on day 1
Yesterday I launched my startup called mently.cc that connects teachers with students on a personalized level instead of just providing courses. Those services are relevant to tech for now like mentorship, code reviews, guide to open source contribution, workshop etc. People liked this idea, I got many likes and 7 students agreed to take the services because I asked them in the form about their details and the amount that they want to pay. I was not expecting this but they only wanted to pay $10 for each of the service . Even if I take 20% cut of the total amount, who is gonna teach for $8. Currently there are no teachers added to my website, and price is also not set for each of the teacher because I thought that teachers can be easily found if the students are willing to pay but the students want to pay nuts. What should be my strategy to attract high paying students instead of just attracting the broke ones or should I flip the business idea and target the businesses for these kinds of trainings but now the question arises, will the businesses pay for these kinds of personalized solutions. Thank you!
Want your thoughts about an idea that I have
It's a problem that I have faced myself in the past. I read so many books in the past, going from self-help to history, religion and so on. But there was a problem, many of the writers don't have the website or other services to sell. After getting inspired from some of the books, I was really in need to contact the writers but no info or services were available. I was in need of those writers to guide me through mentorship, giving the updated changelog or release notes even if they're not publishing the whole updated copy of the book but I didn't find that. After juggling through it, I found that this idea is not limited to writers only. Instead there are other course creators also, like engineers, coders, doctors, accountants who are not selling the books but they want to sell their services and those services are not limited to just recorded videos. Instead there can be services like mentorship, content with multiple version around a specific topic with release notes so that user gets the updated information every time and creators gets paid, live courses instead of the recording ones, async and sync guidance, group sessions, and so on depending on the particular field like resume preparation, job application process, etc. It's not an another teaching platform limited to few courses. Instead it covers those areas in which the learner really wants the help just like I was in need in the past. But then I started coding and spent three years but now I have a bunch of connections in the coding space. So I thought why not utilize those people instead of finding the writers and start approaching the coders and techies that are in my network. Let me know what's your thought and if any improvements can be done with it. Thank you!
0 likes β€’ Jun 11
@Boniface G- Michael I don't know how to assess the commercial viability?
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Bilal Khan
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44points to level up
@bilal-khan-4539
πŸš€ Building mently.cc ($0/month) πŸ¦€ Write Rust Everyday πŸ‘¨πŸ»β€πŸŽ“ Passionate Teacher πŸ“Ή Tech YouTuber ☁️ AWS Community Builder 🏷️ Rust Contributor

Active 7d ago
Joined Sep 16, 2024
Pakistan
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