4 ms·

Why would you tell the world your business model?

chdaniel 5y ago
Because I don't think the business model is something worth guarding. Or that if somebody else replicates it (they have), we have a lot to lose. I do believe in moats, and I'm trying my best to see what moats I can build on top of what we have to 'protect' the business
- vishnugupta 5y ago
  I think you left out a crucial part. How did you develop the skill to spot a fake? The encyclopedic domain knowledge that you possess is the anchor of your business and the value you being to the table. How did you gain that knowledge? Super cool! Thanks for sharing this though.
  - chdaniel 5y ago
    Honestly I just 'hamstered' all the material I could on the most popular items. In the beginning, in those first 10 guides I mention in the article, I just curated all the splintered bits of info* from the internet into one mega-guide, and added what I found after analysing fakes * bits of info from as little as a forum thread comment, lost on page 48, to a full-blown attmept at a guide that, to me, wasn't exhaustive enough In time, it refined to partly what I did in the beginning, and partly our own research which got better with exercise Package all that info in a free, properly formatted guide (with some imperfect English, I admit, as we're not natives), and that gives us the traffic figures I screenshot'd
tyingq 5y ago
The moat seems to be the actual expertise. See one of their guides: https://legitcheck.app/guides/fear-of-god/fake-vs-real-nike-fog-1/ https://legitcheck.app/guides/fear-of-god/fake-vs-real-nike-...
- hellbannedguy 5y ago
  There is a lot of niche FB groups who know their products/hobbies. I was just about to drop FB, but the groups are handy.
- jmchuster 5y ago
  Right, it looks their business model is actually 1) Becoming the world's leading expert on a topic 2) Share and spread that knowledge, until you have publicly cemented your place as an expert 3) Start charging for services that require usage of your expertise
  - chdaniel 5y ago
    OP here. A pretty fair model if you ask me! I think generally we move more towards that model as the internet progresses To me, before starting this, it looked like all the ones who made a noticable bump did it this way. It's why we hate Instagram gurus, I'd say
    - yawnxyz 5y ago
      could you write a post on how exactly you became so knowledgeable in telling fakes from authentic items? I wouldn't know where to even start... what happens when you get a request for an item that you've never seen before?
      - chdaniel 5y ago
        > what happens when you get a request for an item that you've never seen before? Just refund and try to make up for the discomfort (money's blocked for the customer for a few days) by offering a voucher — we tell them "we still owe them a perfect experience" > could you write a post on how exactly you became so knowledgeable in telling fakes from authentic items? Sure! Copying below from another answer Honestly I just 'hamstered' all the material I could on the most popular items. In the beginning, in those first 10 guides I mention in the article, I just curated all the splintered bits of info* from the internet into one mega-guide, and added what I found after analysing fakes * bits of info from as little as a forum thread comment, lost on page 48, to a full-blown attmept at a guide that, to me, wasn't exhaustive enough In time, it refined to partly what I did in the beginning, and partly our own research which got better with exercise Package all that info in a free, properly formatted guide (with some imperfect English, I admit, as we're not natives), and that gives us the traffic figures I screenshot'd
nkrisc 5y ago
What's to protect? There's no secret. You send them pictures and money and they tell you if it's fake or not. There's no secret sauce beyond their personal knowledge.

Because I don't think the business model is something worth guarding. Or that if somebody else replicates it (they have), we have a lot to lose. I do believe in moats, and I'm trying my best to see what moats I can build on top of what we have to 'protect' the business

vishnugupta 5y ago
I think you left out a crucial part. How did you develop the skill to spot a fake? The encyclopedic domain knowledge that you possess is the anchor of your business and the value you being to the table. How did you gain that knowledge? Super cool! Thanks for sharing this though.
- chdaniel 5y ago
  Honestly I just 'hamstered' all the material I could on the most popular items. In the beginning, in those first 10 guides I mention in the article, I just curated all the splintered bits of info* from the internet into one mega-guide, and added what I found after analysing fakes * bits of info from as little as a forum thread comment, lost on page 48, to a full-blown attmept at a guide that, to me, wasn't exhaustive enough In time, it refined to partly what I did in the beginning, and partly our own research which got better with exercise Package all that info in a free, properly formatted guide (with some imperfect English, I admit, as we're not natives), and that gives us the traffic figures I screenshot'd

tyingq 5y ago

The moat seems to be the actual expertise. See one of their guides: https://legitcheck.app/guides/fear-of-god/fake-vs-real-nike-fog-1/ https://legitcheck.app/guides/fear-of-god/fake-vs-real-nike-...

hellbannedguy 5y ago
There is a lot of niche FB groups who know their products/hobbies. I was just about to drop FB, but the groups are handy.
jmchuster 5y ago
Right, it looks their business model is actually 1) Becoming the world's leading expert on a topic 2) Share and spread that knowledge, until you have publicly cemented your place as an expert 3) Start charging for services that require usage of your expertise
- chdaniel 5y ago
  OP here. A pretty fair model if you ask me! I think generally we move more towards that model as the internet progresses To me, before starting this, it looked like all the ones who made a noticable bump did it this way. It's why we hate Instagram gurus, I'd say
  - yawnxyz 5y ago
    could you write a post on how exactly you became so knowledgeable in telling fakes from authentic items? I wouldn't know where to even start... what happens when you get a request for an item that you've never seen before?
    - chdaniel 5y ago
      > what happens when you get a request for an item that you've never seen before? Just refund and try to make up for the discomfort (money's blocked for the customer for a few days) by offering a voucher — we tell them "we still owe them a perfect experience" > could you write a post on how exactly you became so knowledgeable in telling fakes from authentic items? Sure! Copying below from another answer Honestly I just 'hamstered' all the material I could on the most popular items. In the beginning, in those first 10 guides I mention in the article, I just curated all the splintered bits of info* from the internet into one mega-guide, and added what I found after analysing fakes * bits of info from as little as a forum thread comment, lost on page 48, to a full-blown attmept at a guide that, to me, wasn't exhaustive enough In time, it refined to partly what I did in the beginning, and partly our own research which got better with exercise Package all that info in a free, properly formatted guide (with some imperfect English, I admit, as we're not natives), and that gives us the traffic figures I screenshot'd

nkrisc 5y ago

What's to protect? There's no secret. You send them pictures and money and they tell you if it's fake or not. There's no secret sauce beyond their personal knowledge.