How to generate income from a free solution?
The best ideas appear unexpectedly, but they do not always come with a clear implementation plan. But knowing how to generate income from this solution becomes the great doubt that prevents progress.
This episode is part of our section What to do before embarking? because in it there is a series of very useful tips if you have an idea that you know benefits thousands and thousands of people but you do not know how to generate sufficient income so that it becomes the project of your life.
With what entrepreneur are you going to site?
Javier Cardona is the founder of 1DOC3, a platform in which doctors answer health concerns via the Internet 24 hours a day 100% free of charge. The fascinating thing about this company, which serves more than 5000 users a day, is that it provides a solution to the need to access reliable health information without having to submit to the bureaucracy of attending a medical appointment in person.
This story begins just over 4 years ago when Javier lived in the Middle East. He realized how complex it was to resolve any medical questions in person. So, he started searching the internet for answers but he realized there was bad information.
By then, there were only platforms in English. It was at this moment that Javier realized the opportunity he had in front: There are millions of people who enter Google health searches and end up in forums where anyone without medical knowledge can comment. This implies that millions of people may be receiving the wrong information, unleashing serious consequences. and the consequences of this can be very serious.
This is how 1doc3 was born, a completely free platform for you to get out of medical doubts almost immediately.
The question is, how to generate income?
Javier was facing a challenge that seemed to have many options. How to generate income from a free solution without charging users afterward. It is worthwhile to listen to the episode so that you understand, with his words, how he managed to create a successful business model. However, we leave you with three very important lessons for what you should know before undertaking.
- Identify a need for double side. When Javier realized the need for more than 500 million people who speak Spanish, he began to develop the complex platform of 1doc3. A double-sided need refers to a solution that serves the end customer and that, at the same time, satisfies a need for a company. Sound confusing? For example, 1doc3 delivers medical information to a user base and conducts market research for laboratories and other medical organizations. Identifying this type of real needs is a good way to start answering the question of how to generate income.
- Find support and give your idea to know. Something key to Javier’s venture was having gone to Wayra, Telefónica’s digital StartUps accelerator. With this generous help, the company managed to reach a mass of robust audiences by accessing more users for the platform. In this way, they were able to test their business models and grow the company exponentially.
- Have a lot, but a lot of patience. One of the great conclusions of Javier is to realize that entrepreneurship is a rewarding professional exercise; but nevertheless. But, the psychological factor of entrepreneurship involves having the patience to see the results with the enterprising dreams and a residence to not surrender so easy when things do not go well. When it is undertaken nothing goes perfectly well. Nothing.