So last weekend I had what I honestly believe is my biggest, best and simplest startup idea yet.
We’re going to do it.
It’s definitely in the stock market.
It definitely appeals to younger people.
It definitely is mobile first if not mobile only.
Now what I’m struggling with (prematurely, I admit)… is whether or not this is a separate effort/brand/company, or if it should fall under the existing (and growing! and awesome!) LikeFolio brand?
Easier to market and build one big brand with multiple functions and larger scope, or separate functions = separate brand?
I’d really enjoy some comments from you guys… or if you prefer to keep your 2 cents private, you can email me at firstname.lastname@example.org
Any resources, experience or opinions on this sort of thing.
Is it better to keep brands narrow and focused? Or better to go for the big brand?
Let me know what you think.
p.s. The only reasons I’m considering the “big brand” route is because 1) LikeFolio has great traction and distribution already and 2) the new idea is focused on the same demographic and industry as LikeFolio… but it would be a substantial expansion in scope.
For the 14 years that I have been in the business of helping individual investors, this is what the world of finance has looked like to most people:
Jobless claims, ECB rates, Federal Reserve, Technical analysts, conflicting messages of predictions of tops, bottoms and currency wars.
These are the distractions of a non-stop news cycle, a hype machine.
That’s why we created this:
See, we believe that for most people, getting started investing should be about three things:
1. Investing in companies that you understand and like
2. Taking a long-term view… becoming a shareholder
3. Enjoyment. You become good at the things you enjoy.
LikeFolio sets out to simplify “finance” down to what matters most…. discovering the companies that you want to call yourself an owner of.
We’re just getting started, but I love where we’re going.
I really cannot understand how Google abandoning reader made people think that an RSS reader was an opportunity. Obviously, the market there is shit.
Google dominated that market and still didn’t want it. Just walked away!
Not only is getting into the reader business “Red Ocean”…it’s a bloody red ocean where the only thing left are scraps that the big fish didn’t want to bother with. Leave it to the vultures to clean up that carcass.
I’m late to this but it’s a lesson we should have all learned from it. When the best don’t want the market, you shouldn’t either. Instead, invent or expand a market that they will want in the future.