While explaining your startup idea to the investor, you will have to focus more on viability and sustainability than on any other facets. The rise of startup entrepreneurs and the news headlines covering hefty investments by venture capitalists and private equity investors in novel ideas has shifted the focus from entrepreneurship that could have involved poor to sheer personal success.
Also Read: Why we Need More Social Entrepreneur?
Let’s talk real. There exist tens of mobile apps allowing you to order food from the comfort of your office desk, discounts on consumer electronics and clothing are announced almost every day by one or the other ecommerce vendor, are you planning to add to this list?
You must agree that historical enthusiasm toward ecommerce and food ordering apps has declined and it has happened so abruptly and swiftly that investors are pulling h ands when similar ideas are discussed in meetings.
Isn’t then there any viable field where a hope exists for the newer generation of entrepreneurs?
Considering the poor while conceiving your idea can be the answer. And why not – It is a market that has remained untapped and holds favorable viability for risk-takers. How about making a mobile app that can connect doctors with patients belonging to impoverished families? How about connecting freelance laborers with middle class households? How about connecting teachers with girls from backward areas?
And if you believe that this sphere is weak on fetching returns for investors, you may be treading the wrong path. In case profits are minimal per unit sale, the gross amount of sales will bring economies of scale as well as encouraging revenues.
The real perk is that this market isn’t going to fade any soon; it will only grow for next few decades prior to following the business lifecycle curve you see in books on economics.
Together with that, you would help your country address some chronic issues like poverty, illiteracy, joblessness and harassment of women. Isn’t that a win-win situation!
