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Capital Efficient Entrepreneurship: Bonanza Co-Founder Mark Dorsey (Part 4)

Posted on Thursday, May 11th 2017

Sramana Mitra: Help me understand the timeline now. When did you create this member program so you could keep the servers going? What year did you switch to being able to charge final value fee? What year did the membership program really start generating significant revenues?

Mark Dorsey: We launched the beta in June of 2008. The article came out in September of 2008. The membership program to buy more servers was launched in December. We started to realize significant amount of revenues a week after we started the program. To us, being able to buy another server was significant. That was significant revenue to us. >>>

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352nd Roundtable For Entrepreneurs Starting NOW: Live Tweeting By @1Mby1M

Posted on Thursday, May 11th 2017

Today’s 352nd FREE online 1Mby1M roundtable for entrepreneurs is starting NOW, on Thursday, May 11, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are welcome!

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Microsoft Shifting Gears on All Fronts

Posted on Thursday, May 11th 2017

Last year, I had suggested that Microsoft (Nasdaq: MSFT) may well be a dark horse in the five horse tech race. Its recent performance confirms that analogy. And the horse is running a good race. The company continues to compete with the likes of Apple, Amazon, and Alphabet across multiple offerings to make sure it no longer lags.

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Video FAQs

Bootstrapping a Two-Sided Marketplace to $10M: Sal Akbani, CEO of Gateway Classic Cars (Part 4)

Posted on Thursday, May 11th 2017

Sramana Mitra: We’re now at the end of 2000. You’ve got this model that is validating. You’re starting to make a little bit of money with which you can pay yourself. What are the next key strategic moves and what were the next key inflection points in the business?

Sal Akbani: The next strategic move came in 2004. By late 2003, I had realized that we had basically saturated the market in St. Louis and we weren’t going to get any more inventory. We were not even getting a dollar for dollar return. We decided that we probably needed to look at other markets. I researched and came up with 38 additional markets that were equal to or larger than St. Louis. Then I wrote a business plan and started acting upon it. In 2005, I established my first remote showroom in Charlotte, North Carolina.

Sramana Mitra: Is that a part of the growth strategy? >>>

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Capital Efficient Entrepreneurship: Bonanza Co-Founder Mark Dorsey (Part 3)

Posted on Wednesday, May 10th 2017

Sramana Mitra: How did you mitigate the constrained budget?

Mark Dorsey: I’m really proud of this. It’s something that we take a lot of pride in. We identified that we had a very rabid seller fanbase who were willing to do whatever it took to make our company the most successful marketplace online. Realizing that, we created a guerrilla marketing group. We called this group the Bonanza Action Club. We invited the top 50 members of our site. >>>

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Man and Superman: Is There an Action Item?

Posted on Wednesday, May 10th 2017

In order to give focus to some major changes she sees on the horizon, Sramana Mitra has written several pieces that grew out of her original article, Man and Superman: Human History Bifurcates. The previous articles in this series: Two Distinct SpeciesWhat CAN Be Controlled?Rationalizing PopulationsHow Long Does Democracy Survive?The Environmental Time BombRole of Religion, and Will There Be Revolution? Please share your thoughts and help get the conversation going.

As this series has developed, I’ve had the privilege of listening to various perspectives about the possibilities. I’ve also had very interesting exchanges about questions, alternatives, and ramifications.

One particular point of view, over a beautiful luncheon at my friend Enrica’s, concerned online learning.

Clearly, the distinction between Man and Superman is largely in intellectual capacity.
>>>

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India’s Most Dangerous (Ad)Venture: A Turnaround Strategy for Flipkart

Posted on Wednesday, May 10th 2017

Flipkart last month announced that it has raised $1.4 billion in funding from Tencent, eBay, and Microsoft and that it will be buying eBay’s Indian business. It is also in talks with Snapdeal for a possible merger or acquisition. But would buying these broken businesses help Flipkart fight Amazon? This question haunts the aficionados of the Indian startup movement. If Flipkart manages to somehow find success, the nation’s nascent startup momentum will continue. If it fails, it will fail in a very public way, and it will take down the entire industry’s momentum with it. Especially, it will dramatically dampen the Indian e-commerce sector’s hopes and dreams. This post is an attempt to look for a silver lining that may be able to turnaround the company. >>>

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Bootstrapping a Two-Sided Marketplace to $10M: Sal Akbani, CEO of Gateway Classic Cars (Part 3)

Posted on Wednesday, May 10th 2017

Sramana Mitra: Your site operates as a two-sided marketplace except you store the inventory.

Sal Akbani: Yes, and we have currently 14 plus 1.

Sramana Mitra: What does that mean?

Sal Akbani: We have 14 active ones [warehouses] and we have one more coming up in Denver on June. We’re currently also working in Scottsdale to open our 16th [warehouse]. >>>

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