This transcript was generated from the episode audio and may contain minor errors.
[Music]
Open Table isn't good. How can we do better? That is today's topic. Welcome to Side Hustle School. Today's caller wants to make an alternative to the traditional restaurant reservation process.
You may have used Open Table. I've used them myself. It's often just a simple way to go and make a restaurant reservation. But no doubt it has problems. Like there's always pros and cons to things.
Maybe some people don't like Open Table that much. So our caller today, Theodore, is frustrated with the status quo of restaurant reservation platforms. He is exploring the idea of creating an alternative that can outdo Open Table in the reservation game. Again, that's the question. Open Table isn't great.
How can we do better? And while he's got the drive and determination, also some qualifications, Theodore is also aware of the David and Goliath situation here because if you go up against a big company, you really need some kind of competitive advantage. So he's looking for guidance. Let's talk about it. And by the way, happy 4th of July.
Happy Independence Day to those who are in the United States and really happy independence to everybody everywhere. Independence is one of the most important values of Side Hustle School. I hope you are working toward more independence in your life. And I hope this podcast can help you get there. That's why we do these short daily episodes, less than 10 minutes a day.
And with that in mind, I want to say thank you to our sponsor and then we'll jump into this question about Open Table. [Music]
Hey, I'm Theodore from New Jersey. Having worked in the restaurant industry for over a decade, I've become increasingly frustrated with the limitations of existing reservation systems like Open Table. I feel there's room for an alternative platform that could better cater to the dynamic needs of both restaurants and diners. With my industry knowledge, I'm excited to explore the potential of creating our own restaurant reservation platform.
However, this is uncharted territory for me and I could use some advice. How can we design a platform that truly stands out in this space? What key features or strategies could make our system a more attractive choice for restaurants and their patrons? - All right, Theodore, I admire your ambition to take on an industry giant. I also respect the hustle, the enthusiasm to improve the system, make it more user-friendly.
It is a commendable approach. That being said, though I like to inspire, I also like to be realistic and help people take practical steps toward just making their dream a reality, right? Rather than just dreaming, but actually making it reality. So it is important to kind of approach this idea with a healthy dose of realism. So breaking into an established market dominated by a major player is not a walk in the park, meaning that it's not simple or easy.
OpenTable is able to do what they do because they have this robust network of restaurants. I think it's actually worldwide now, not just in the United States, but we're talking thousands, maybe tens of thousands of restaurants that use that platform. There are some others like Resi from American Express, Yelp now does reservations. I'm sure there are others and in different parts of the world, there might be a different market leader. But the point is OpenTable and those other really big brands, they have the advantage of established recognition, trust and let's not forget financial resources.
So, you know, I always say you can start lots of businesses without spending a lot of money, but some businesses are going to be much easier than others. So you always wanna think like, who's my customer? How am I gonna get paid? What is the revenue model here? And at first glance, there's not an obvious revenue model here, at least from the information that we have.
So, you know, that's not to discourage you, Theodore, but rather to emphasize the scale of the challenge. So if you are still keen, I would suggest starting on a really small scale, perhaps locally or within a niche segment of the restaurant industry. But I also might encourage you to think about some other ideas. So if it's not your gung ho number one must do idea, I would say what else do you got? Because you might be more successful sooner.
If it is your number one idea, the thing you wanna do more than anything else in life, then of course I would never try to dissuade you and I wish you well either way. It's just always good to make wise choices, you know, with the limited time that we have for our side hustle and for our life in general. Listeners, let me know what you think. And if you have a question, sidehustleschool.com/questions. We'll continue to feature them each week.
Love to hear what people are working on, what they're up to, what's going well and what's not. Of course, we got a new episode every single day. I'll be back again tomorrow. This is Chris Guillebeau for Side Hustle School. [Music]
(guitar strum) (guitar strum) From the Onward Project.
