OMG! I Can't Believe I am Sharing This Biz Idea on a Public Forum... It Could Be Worth Millions!

35 replies
This post can be worth millions, or nothing much at all. I honestly don't know. But I am going to share an idea which I haven't shared with anyone for years... because I don't think I can implement it myself anymore. So I am just giving it away and if someone can take it, develop it & market it, I am OK with it.

When you look around, people are slowly moving to the snacking habit. They want quick fixes and short cuts.

  • People have moved from eating healthy wholesome foods 3 times a day to snacking some stuff up every few minutes. Not all of them are junk food, some are really nutritious as well.
  • People have moved from watching whole length movies and documentaries to YouTube videos.
  • People have moved from reading novels to short stories.
  • We have moved from reading full length business books to buying WSOs.

We snack information as well!

We Internet marketers are lucky because this group is so huge and tech savvy that we have our own forum for discussion and great facilities like WSO section. But there are many topics in the world which has a very small group of audience, and they are not tech savvy. They may not even have a paypal account. So how can we provide something like WSO for the people of the world?

So Here's my BIG Idea...

Let us give a name for this project/website: say, info.com

This goes beyond the search engines. Google and Yahoo only organizes existing information... but this site is going to encourage people to create information and let them earn with that info without having to be a webmaster and without having to go through the hassle of placing ad codes, etc.

The website will have a lot of different categories (something like Yahoo! Answers).

Let us consider a person "Adam" who is an expert in something and joins info.com. He creates a new thread/posting with a click of a button and writes an article. After he finishes with the article, it is ready of anyone to open and read it. He need not be a proclaimed expert... whether his post has any value or not will be decided by the audience. This person can be anyone... because every has something to share which can improve the life of others.

Say some 5 people open it. There will be a rating system for each new post like this. +ve, -ve and neutral. If the post gets more than 3 consecutive -ve ratings, the post will be automatically deleted to prevent the site from low quality information overload.

Neutral rating will not affect the status of the article. 3 or more +ve ratings will raise the price of this post to $0.01. Now if someone wants that information, he/she has to pay 1 cent to open it. If it gets more positive ratings, the price will up again, say to $0.02. If a post comes to a value of say $3 and if everyone who opens up that open feels it is worth just $3, they will give neutral rating and the price of that post would remain $3 (+/- few cents).

(Here we say some WSOs are over-priced and some are under-priced. Imagine how would it be if we could fix the price of the WSO as a group depending on the value of information it contains!)

Depending on how consistently it gets positive ratings, the rate at which the price goes up or goes down will differ... some PHDs have to work on this! Else it can be plain simple to start with. +$0.01 for every +ve rating and vice versa.

If someone tries to artificially inflate his posts' value by creating fake accounts and giving positive ratings, he cannot last for too long because when other people open it and give negative ratings, his posts' value will come down automatically. It is something like wikipedia, where if someone messes up a page with wrong information, 5+ people will jump on it to edit it and make it right.

Say for example someone makes a post and gives 100 +ve ratings from fake accounts... the price of the post goes up to $1. When a person opens it by spending $1 and is frustrated about the low quality information, he will give a negative rating. It will come down to $0.99 and will keep going down consistently if it is a crap post and after it reaches $0.00 and gets -ve ratings, the post will be weeded out automatically by the system. Such high rise and drop in the value can easily be flagged and the account will be banned. Soon people will realize that the system cannot be gamed.

Say that the post made by Adam in the above case was a really valuable one and it has reached a price of $2. If someone else named "Bob" comes it, reads the title and description, looks at the 100+ positive ratings (The price is also a direct indicator of the positive ratings the posts has received.) and he really NEEDS that information. So he clicks on "open" His balance will go down by $2 and Adam's account balance will go up by $2. They have exchanged valuable information with money.

Every account will start with a balance of $2 or $5 and each account holder can spend money on information and/or they can earn money by creating quality information. If their balance reaches, say $25, they can withdraw their money. If they just keep "opening" valuable posts, they will run out of money and they have to reload their account through a credit card or some other payment option.

As the website grows in membership, there will be too many posts. But it will not become overwhelming. For those people who have money to spend, need quality information and don't have time to do research on the net for "free" low quality information can go directly to the high value posts, and open it (Provided a post has been made on that topic of need by someone).

If people cannot find the information that they are looking for, there will be a place where they can post what info they need and others who need the same information can vote on it. If a person who has a solution/answer to that question, he will be encouraged to write about it since he already knows that many people are in need of that information. This is much easier than building a list of prospects and sending them questions & surveys before you create an information product.

If 500 people open a post of $2 value, the creator of the information would have earned $1000 without having a sales page, having to create an ebook and put it on click bank and having no previous experience in selling information products.

People who have a lot of free time and are browsing over the site, they will open low value or the free posts (posts recently published) and they have the tremendous advantage of gaining value from the post's information for free which could have a potential value of $10 or $50 in the very near future. They will also weed out low quality information through negative ratings.

If this idea is well marketed, it could literally eat up the search engine trend. This site will have an internal search engine and all the world's high quality information will be here!

I have mentioned about that the money will be transferred completely from the "buyer" to "seller" account. The site will not have any share in this transfer. The entire project can be monetized from initial one time membership fee... or advertising can be used!! The site will have millions of views per day if it becomes the next big thing. As membership grows, there will be more sales of information and more people will will be encouraged to share their best ideas.

Just consider some topics: Business ideas (where a post like this could earn a lot of money!). Health tips, How to stuff, reviews of rare products, travel experiences... the list could go on and on.

The site should have a text editor for people making new posts and they will be allowed to add images, audio and video as well. There will be no limit to the size of the information. People can even write ebooks sized information in this and the buyer can have the preference of downloading the post as a PDF after he has paid for it... i.e. "opened" it.

If this project can get adequate funding, it can be kick started and grown to a fully functional site within 3-6 months. For example if it can give away free $2 for every new account, a lot of people will be encouraged to join.

If some small internet guy started a website like Yahoo Answers, it would have failed. Yahoo advertised it everywhere and tons of people joined it within the first week of its launch and that's why it succeeded. This project will have similar requirements. The idea is just 10%. The manifestation of the website/portal would be another 10%. Marketing would be 80%. Without good marketing, the idea cannot stand on its own.

So That's my 2 cents... (or perhaps my $1m).

I read a quote somewhere: "Humility in the presence of a good idea is the greatest asset a man could possess."

Now, since I have not shared this idea with anyone before, I honestly don't know how you perceive it. So I have a humble request to make... in case if this looks like a bad idea to you... Don't scold me, OK?

Regards,
Sandeep
#biz #forum #idea #millions #omg #public #sharing #worth
  • Profile picture of the author Kezz
    Well I for one think that sounds like a pretty darn good idea. The first thing that springs to mind is you would need to have some hardcore super skilled programmers to make sure the whole thing ran smoothly. The biggest issue would be control over excessive +ve or -ve ratings.

    It would essentially be a cross between a paid answer site, a blogging for revenue share site and an article directory.

    It would definitely open the door to a new kind of content creation.

    The tricky part would definitely be getting the thing coded up just right, so I imagine a reasonable chunk of startup capital would be required.

    Sounds like a good opportunity for someone to run with to me.
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  • Profile picture of the author JasonP
    You would really have to watch out for abuse of the rating system. It would severely be taken advantage of.
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    • Profile picture of the author DogScout
      Originally Posted by JasonP View Post

      You would really have to watch out for abuse of the rating system. It would severely be taken advantage of.
      Easily controlled with IPs

      Blacklist all known proxy servers?
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    • Profile picture of the author Sandeep Shah
      Originally Posted by JasonP View Post

      You would really have to watch out for abuse of the rating system. It would severely be taken advantage of.
      Hey Jason, I have added some more info above regarding the potential abuse...

      If someone tries to artificially inflate his posts' value by creating fake accounts and giving positive ratings, he cannot last for too long because when other people open it and give negative ratings, his posts' value will come down automatically. It is something like wikipedia, where if someone messes up a page with wrong information, 5+ people will jump on it to edit it and make it right.

      Say for example someone makes a post and gives 100 +ve ratings from fake accounts... the price of the post goes up to $1. When a person opens it by spending $1 and is frustrated about the low quality information, he will give a negative rating. It will come down to $0.99 and will keep going down consistently if it is a crap post and after it reaches $0.00 and gets -ve ratings, the post will be weeded out automatically by the system. Such high rise and drop in the value can easily be flagged and the account will be banned. Soon people will realize that the system cannot be gamed.
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  • Profile picture of the author DogScout
    Could start with an article directory. the add-ons could be coded in?

    as you mentioned the hardest aprt would be attracting clients
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  • Profile picture of the author travlinguy
    I like it a lot. I don't think false positive ratings would be nearly as problematic as false negatives. People with agendas would be encouraged to give negative feedback to perhaps move their own content up the scale.

    Maybe there could be a small fee to 'log on' to the system that might discourage abuse. I think that if a sound method of discouraging tampering could be employed the system could have real possibilities. Thanks for sharing the idea.
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    • Profile picture of the author Sandeep Shah
      Originally Posted by Teresa Coppes View Post

      Thanks for referring that... Never knew it before. I checked it out and it looks similar to Google Answers. The website is focused on encouraging people to ask questions.

      But here, my focus is on encouraging people to create information and share their best ideas (like blogging & posting in forums) irrespective of whether there are people need that information or not. That's how so many blogs have come up already. That's the kind of mindset we have when we post threads here in warrior forum.
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  • Profile picture of the author 1960Texan
    Sandeep,
    I think it's a fantastic idea. What other million dollar concepts do you have in your brain?
    Will
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    • Profile picture of the author Sandeep Shah
      Originally Posted by 1960Texan View Post

      Sandeep,
      I think it's a fantastic idea. What other million dollar concepts do you have in your brain?
      Will
      This was my best one, but I do have other ideas as well. I will post them in the coming months
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      • Profile picture of the author butters
        Seriously flawed system, it is open to all types of abuse, abuse that is impossible to monitor. If it got popular, I could see facebook groups with the group name of this... "I'll rate yours if you rate mine". I can get 50 friends to get click yes I like this and then I would get 50 cents a click and everything would be legit in your eyes.
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  • Profile picture of the author Tom Byrde
    Very interesting idea indeed - a nice bit of out-of-the-box thinking.

    It will be interesting to see if such a site emerges in the coming months too.

    Tom
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  • Profile picture of the author JMPruitt
    lol looks like a great Idea but you are right, it would take a well funded team to pull it off. Sounds interesting though, I might post some content if it got built.
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  • Profile picture of the author Sparhawke
    I don't think it would be very workable, for one thing people could simply get a load of mates to rate it up for near pennies and why should someone who is new to a forum have to pay $50 to read something that only cost 1c a week earlier?

    And how would it work anyway...would you have some kind of forum gold currency?

    If so who supplies it and what are the rules on its distribution?

    And lastly, what topic could possibly be worth $50 when there is so much free content all over the internet and in the fabled war room especially?

    Having a ratings system for posts and topics would work, it just will not be easily monetized and will instantly spell the death knell for any online venture.
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    • Profile picture of the author Steve Faber
      Originally Posted by Sparhawke View Post

      I don't think it would be very workable, for one thing people could simply get a load of mates to rate it up for near pennies and why should someone who is new to a forum have to pay $50 to read something that only cost 1c a week earlier?

      And lastly, what topic could possibly be worth $50 when there is so much free content all over the internet and in the fabled war room especially?
      Look at it the other way. People who paid a penny got very valuable information at a tremendous discount.

      Many topics are worth $50. If they weren't, no e-info products over $50 would sell very well. It depends on the value of the information, and the timeliness with which it is needed. I have actually used one of the services, it might have been the one mentioned earlier, where you pay for an expert's answer. I paid $13, and it saved me a $100 trip to the dealership, plus all the time out of my day that entails. An obvious value.

      The implementation of the system would definitely require some tweaking, and a bit of funding, but it could work well.
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      • Profile picture of the author clint48
        It may or may not work, I don't know, but it's a good idea. There are always going to be a few problems with any new idea.

        Clint
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  • Profile picture of the author AndyBlackSEO
    At first I thought it was sounding like Squidoo, hubpages etc. Then the pricing system was thrown in. I like the idea of new user accounts getting x amount of credit upon registering. That allows people to start using it first in order to see the benefit.

    This actually wouldn't be that hard to develop. Quite straight forward in fact.

    You could get around people gaming the ratings system quite easy. First you could log the users IP. You could also add a timie feature into it. For example if a page so big then they couldn't vote in less then x amount of seconds. This will stop people from loading a page and voting. There are other things that could be done to prevent this too.

    So the site in general sounds like a kind of ebook, report, guide site that people rate and the users kind of set the price too themselves. A good way of cutting through the rough and finding the gems.

    Well done.
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    • Profile picture of the author ExRat
      Hi,

      What method did you use to gather this market research data which the business idea is based upon?

      When you look around, people are slowly moving to the snacking habit. They want quick fixes and short cuts.
      • People have moved from eating healthy wholesome foods 3 times a day to snacking some stuff up every few minutes. Not all of them are junk food, some are really nutritious as well.
      • People have moved from watching whole length movies and documentaries to YouTube videos.
      • People have moved from reading novels to short stories.
      • We have moved from reading full length business books to buying WSOs.
      From the way that the data is presented here, I suspect that it's flawed - in particular - 'when you look around.'

      Of course, it never makes someone popular if they appear to be poo-pooing on other peoples' enthusiasm and bright ideas. But I'll take that risk in order to make others aware that if you build a whole idea upon flawed thinking and research derived from 'looking around', you are approaching business in entirely the wrong manner, and it probably WILL bite you in the rear at some point.

      I read a quote somewhere: "Humility in the presence of a good idea is the greatest asset a man could possess."
      I'm not so sure about that, but I do believe that the first step for any aspiring business person is to learn the difference between assumptions and proven data/facts, and to hard wire that type of thinking into thier psyche. Obvious assumptions are an immediate flag for anyone who knows what they're doing - for example, investors.
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  • Profile picture of the author Fraggler
    Those people would have to pay to be able to vote it up though, wouldn't they?

    If you have to read to vote, and pay to read, then I don't think mates would be paying $$ to boost their mates sell price...

    Or have I missed something?
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    • Profile picture of the author Steven Wagenheim
      I'm glad Roger put in his two cents first so I'm not the bad guy here.

      Not only is this idea flawed beyond belief, it's a disaster waiting to happen.

      Forget about the abuse factor, which, in spite of what people here think, is
      going to be a HUGE problem.

      People are not going to pay big money for information that may or may not
      be useful without a money back guarantee.

      How is an independent site going to handle that when the money goes
      direct from buyer to seller?

      It can't and when the complaints start coming in because people are getting
      ripped off due to bad info that has been pumped up (yes, it WILL happen)
      the site is going to have massive problems on their hands.

      And this is just one of, what I am sure are, many problems I could think
      of if it wasn't so early in the morning.

      This is a bad, bad, bad, bad idea and I wouldn't touch it if I had Donald
      Trump's money.
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      • Profile picture of the author Sandeep Shah
        Originally Posted by Steven Wagenheim View Post

        I'm glad Roger put in his two cents first so I'm not the bad guy here.

        Not only is this idea flawed beyond belief, it's a disaster waiting to happen.

        Forget about the abuse factor, which, in spite of what people here think, is
        going to be a HUGE problem.

        People are not going to pay big money for information that may or may not
        be useful without a money back guarantee.

        How is an independent site going to handle that when the money goes
        direct from buyer to seller?

        It can't and when the complaints start coming in because people are getting
        ripped off due to bad info that has been pumped up (yes, it WILL happen)
        the site is going to have massive problems on their hands.

        And this is just one of, what I am sure are, many problems I could think
        of if it wasn't so early in the morning.

        This is a bad, bad, bad, bad idea and I wouldn't touch it if I had Donald
        Trump's money.
        Hmm!

        [Breathing Deeply...]

        Never thought about refunds! You woke me up... not just to the fact that this is a bad idea... but to the realization that "instinctive" ideas are no good if there is no solid fact backing it up!
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    • Profile picture of the author Sparhawke
      Originally Posted by Fraggler View Post

      Those people would have to pay to be able to vote it up though, wouldn't they?

      If you have to read to vote, and pay to read, then I don't think mates would be paying $$ to boost their mates sell price...

      Or have I missed something?
      Yes, you have lol

      If you get 50 mates each paying a dollar you can then easily pay that dollar back to them each.

      Now your piece of crap work that isn't worth sod all has a supposed value of $50 which all it takes is for one gullible idiot to "buy" for you to break even and two to make profit.

      For the OP, I would stick to figuring out how to make people click and buy your adverts than this, it is doomed to failure from the start lol
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      And to put one's thoughts into action is the most difficult thing in the world ~ Goethe”
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  • Profile picture of the author jazbo
    Madness. Would need constant policing, and depends on massive traffic willing to pay siginifcant money to make it worthwhile for the contributors.

    I also like reading books ;-)
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  • Profile picture of the author JayXtreme
    Never mind the abuse...

    The info that has been the springboard for this idea, is terribly short-sighted, and without me trying to be too troublesome, I think your notions about what people have "switched to" is far-fetched to say the least.

    For example:

    I regularly watch full length movies, and would never consider YouTube as an alternative to that viewing.

    My bookshelf is Jam-packed with business guides, manuals and books that I have bought in the past and then many of them only recently. I fully intend to continue reading and applying what is contained in them at the same rate as I am doing right now... no change on the book front for me!

    And

    Being a parent, my main aim is to stick to a set 3 meals per day... and I don't often stray from this routine. It is something I consider to be essential for my Daughter's development. Consistency and routine is highly important, imho...

    The above is only some things that I have plucked from my life, and could be just as insignificant to your "research" as the information you seem to have presented as the basis for your idea.

    Please, don't think I am trying to rubbish or scrap your idea, it is potentially a good moving project. I'm just sharing my view, but I know from my own previous experiences that business ideas, that are not formed on solid foundations of significant research and information are often the ones that have given me the biggest headaches and plenty of lost revenue/profit.

    I hope you take this post in the spirit that it was intended.

    Of course, the above is my opinion only... shared for $0 and worth every penny

    Peace

    Jay
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    Bare Murkage.........

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  • Profile picture of the author LMC
    The idea definitely needs tweaking... but from the sounds of it, your looking at a
    $2,500 expense for the design and programming, and with $5,000 for advertising.

    Trying to start something new with $7,500 is not the biggest risk in the world. That is what the Internet is all about, low start ups. Obviously don't just jump in and do some research.

    Don't just shoot the idea down because a few people gave you criticism. Survey the Market, see how they would interact. Build a list in the Market and begin building a relationship with them 3-4 months ahead of any predicted launch time. Worse case scenerio, you find out your idea won't work, but you still have a list and design a business to use it with.

    Think of other options as well:


    Maybe a system like Envato did with their themeforest marketplaces would work. Here you submit work, and the company puts a price tag on it. It insures quality for the buyer, and the publisher earns as well.

    I agree the idea posted would need some definite tweaking, but good brainstorming and thinking.
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  • Profile picture of the author Kezz
    Yep, LMC has it on the mark. All the feedback you are getting is really helpful, and doesn't mean you should give up on the idea. Some folks have pointed out reasons why they think it is a bad idea, and they are good points, but at the same time they are referring to your idea as it is right now. Think of this as beta testing your idea. If you were beta testing an application and people pointed out bugs, you wouldn't scrap the program, you'd fix the bugs.

    There's absolutely no reason that you can't take on board the issues that people have pointed out, and use them to build a better idea. People have pointed out you may be building on some assumptions, so now you know you should do some research. People have pointed out the system may be open to abuse, so you can think of ways to work around it and create a better system.

    Steven pointed out a issue with refunds. Someone else mentioned people might not be willing to pay if they don't know what they will get. Okay then, what are some possible ways to deal with those issues? Here are some brainstormed suggestions that spring to mind.

    * Have the first X number of words visible as a "taste".
    * Rather than pay per read, what about a recurring membership, potentially starting with a free trial that includes X number of reads.
    * Within a potential membership model, you could have different pricing bands that give you access to content with differing levels of popularity.
    * Content that gets voted up is put into the higher pricing bands, and is then paid a higher amount per view or per month.
    * Members could pay less for less popular content, but still have the chance to catch new material before it is voted up.
    * Members could pay more to have access to the high quality content that has been filtered by the voting process.
    * Regarding abuse prevention, you can also take a look at successful systems with up and down voting and see how they work. For example, Yahoo Answers requires you have a certain amount of activity before you can perform certain actions. Nothing can ever be perfect, but things like this would help.

    Those ideas may or may not be any good, but I just wanted to make the point that negative feedback is one of the most important things you can hope to get on any project before it starts, as it can save you from all the mistakes you may otherwise have made.

    I say rework the idea and feel free to bounce any new angles you have off us in this thread.
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    • Profile picture of the author Hesaidblissfully
      Yeah, like a few people pointed out, some of the assumptions that the idea is based on seem a bit off. I personally watch full length movies and documentaries online all the time if they interest me. The one I would sort of agree with is that many people are becoming accustomed to reading bite sized tidbits of information online, since so many people get their news from blog posts and short news articles. But then those same people may go on to read full length magazine articles and books offline.

      Another way of approaching your idea might be to do some actual trend research and build a Squidoo/Hubpage type site around a niche. For example, the Latino demographic is currently a growing demographic in the US, so you could build a site similar to Squidoo or Hubpages that catered to Latinos and allowed users to share content about Latino culture, history, music, food (recipes, restaurants), social and political issues, sports, travel, television etc. You could have a similar pay structure to Squid/Hub where people can earn revenues for ads clicked on their page and allow them to keep the revenue or donate to Latino charities, etc.

      Not saying this idea would definitely work or that you'd even want to do it, but it could be a way of capitalizing on an established trend.
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  • Profile picture of the author Troy_Phillips
    Hey at least you are thinking ..... I think.

    Got me to thinking . Yup I realize that is dangerous.

    Who wants to join my high five posse . membership is only $99 a month. Members are dedicated to voting up your product . We will make sure your product is at the highest rating possible .

    What's that... you don't think so.

    Those that do not join get voted down. hope you can make a lot of 1 cent sales .

    Just sayin.... :-)
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  • Profile picture of the author WealthWithin
    I think your idea has potential. Of course people will try to abuse it, just like any other system.

    Maybe you can test the idea with a some sort of points to cash conversion system.

    I wouldn't say you should just throw it away. The worst feeling would be to turn back after 5 years and regretting for what you haven't done.
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    • Profile picture of the author Sandeep Shah
      Originally Posted by WealthWithin View Post

      I think your idea has potential. Of course people will try to abuse it, just like any other system.

      Maybe you can test the idea with a some sort of points to cash conversion system.

      I wouldn't say you should just throw it away. The worst feeling would be to turn back after 5 years and regretting for what you haven't done.
      Every system has potential abusers. Even Yahoo Answers is being taken advantage by some people... posting questions and answers that mislead the audience/customers.

      If there is enough man power... I guess we can weed out the bad guys pretty fast.

      I am not sure whether points to cash would be as effective as the direct cash system.
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  • Profile picture of the author marketeers
    I think it's a great concept.
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  • Profile picture of the author Matt Bard
    Regardless of whether the technical side would work or not, I don't see the business side of it. The demand is already filled.

    Most of the quality information you can find on IM can be found right here and in the War Room. Then for a few bucks here and there tailored information from WSOs.

    This is true of most niche forums too.

    The people that have the knowledge and practice in their niches tend to join together and share in a similar way that we are here.

    You may have to pay to join the dog grooming club but once you are in you have access to the information you need in that niche.

    As far as earning with your content, that's what article writing, product creation and so on is doing at a much more lucrative level than a nickle a post.

    Posting good content here gets your sig viewed more and an open relationship with people who are not paying to see your information and therefore you are still getting value from your "free" posts.

    This reminds me of a time when I was a teenager and got "high" with a friend.

    I had spent an incredible amount of time trying to come up with the perfect device to let the deaf know that their phone was ringing.

    Matt
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  • Profile picture of the author MichaelHiles
    Some of us still read books.

    Maybe that's why I think it's a terrible idea.
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  • Profile picture of the author textron
    great idea. you should find a good trustworthy coder to do it.
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  • Profile picture of the author MichaelHiles
    Oh.. and you forgot the SUPER SPECTACULAR KILLER thread title version of OMG that will be sure to bring in the clicks like a mad hound...

    OMGWTFBBQ!!!!!!!1!!!ONE!!!!
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