I recently launched Palcycle, an online social marketplace that allows you to buy, sell and trade among people you trust with no hassles and no fees. The idea for a hassle-free, no-fee shopping website was born out of my experience and the belief that there should be a safer and easier way for people to buy and sell things online.
Also, I felt as though many people just have too much stuff and really want to simplify their lives. Options to buy and sell your things online do exist, as we know, but they can be cumbersome to use and often-times expose us to undue risks and fraud.
Palcycle enables people to sell items without back-end fees, and to choose the level of sales risk by selling to their close network of friends and family or to all users.
Best Success Story:
I would say my best success story has yet to be written. It was exciting when we sold Gloss.com to Estee Lauder, and certainly Google and Netscape were two incredible rocket ship rides, but I am most excited to build Palcycle.
Being able to help people simplify their lives while putting cash back into their pockets is going to be fun!
Biggest Startup Challenge:
The challenge for me is realizing that you can build something better than what exists in the market but if no one knows about it, does it really matter?
The biggest challenge is getting the word out about your product or service. Even if customers have a great experience, convincing them to come back a second and third time and create a brand loyalty is no easy task.
#1 Tip for Entrepreneurs:
Surround yourself with smart and creative people, those with backgrounds more diverse and different than yours. If you are technology-centric, involve people in your project who are more artistic than you, multicultural, multi-linguistic, etc.
It may not be who we naturally gravitate towards, but it’s great to gain different perspectives. And when the time comes to make the tough decisions, listen to what others have to say, but don’t be afraid to listen to your gut and stick to your guns.