Also read: Top 5 simple steps to generate a wonderful business idea
E-commerce, mobile wallet, or networking, which is the one to go for? You may be stuck hard in an impasse even prior to making the idea viable. But are these the only possible disciplines to get you started? Why not agriculture, space exploration or robotics?
A startup is a startup my friends; there is no silver lining in one that doesn’t exist in the rest. Ideas that have targeted lesser-charming domains like farming or online education may be not that well covered by the contemporary media, their projects, however, hold equal forte and viability, if executed wisely.
Once out of college, and with all that knowledge of digital startup revolution and its present success, you may be overwhelmed with similar sort of ideas. Will they work for you?
Ask this question and look for all prospects prior to just being captured by the hyped glory. There is a slew of platforms where users are welcomed and retained by way of cashback and hefty discounts. Food ordering is yet another messed up market. Then are these social networking apps and websites, which are placing the same old wine in a new bottle.
Trust us; there isn’t a codified rule yet to tell you about the best bet.
Indeed, all startups are a bet initiated by founders, supplemented by investors and endorsed/ vetoed by customers. The golden rule is that your bet shouldn’t fall in a category that is already overburdened and renounced by users.
The best possible way is to think beyond boundaries, beyond the so-called permissible limits. It may not be e-commerce, and yes it can be a novel concept in agriculture; it may not be yet another photo sharing app, and yes it can be about galvanizing political opinion. Why squeeze your vision, why not exploit the domains that are waiting to produce tycoons?
Also read: Think as a user to make it acceptable
You would have been taught about surveying probable customers, checking on existing competition, working out statistics on future revenue growth, but wait, there are models of success that did not survey, had no competitions and never planned profit growth!
The best idea is the one that you are dying to implement, howsoever tough it is; it may not be of the same old world order, yet it can be your best bet!
Also read: Got a perfect business idea! What’s next?
