Category: Business Reviews, Entrepreneurship

Boompa: Great Entrepreneur Read

You may have heard of a new social network for cars, Boompa. Semi-yawn. Anyways, the really interesting thing about these two entrepreneurs is their story about making the site. More and more I am realizing business people are less useful and great thinkers are quite useful. If you want to start a business, kill sometime in the bathroom or just like reading good stories read how they left Cnet to develop this business:

read: http://www.kuro5hin.org/story/2006/5/18/16204/1055

Highlights include:

• Going to a bookstore to see which magazines have a lot of publications but a weak online presence. Realizing they can get ad dollars from those companies.
• Calling competitors to see how much they are charging for ad space and availability.
• Outsourcing legal and business creation work to lawyers to save time.
• Not taking any VC money until the business has grown.
• Locating near a college area for possibly cheap labor.

The company got bashed in the comments for many things but I respect these guys for analyzing, preparing and creating. I think most of the haters are jealous. One of my only suggestions that I have learned from my free time is choosing or creating something you are really passionate about which I didn’t get from this business.