Ideas are very important for a startup, it is like a first milestone, there are a lot of business ideas which come to your mind which may be interesting in the mind but it could be really difficult to implement it on the field.
HOW CAN YOU GET IDEAS FOR A STARTUP?
1) look at the surroundings
2) feel the need
3) look for services
4) copy ideas
5) easy to setup
Basically, there are three types of business
1) Service Business
In this, you offer services like a haircut, taxi, bank, etc.
2) Merchandising Business
It is a retailing business where you buy products wholesale and sell at retail price.
3) Manufacturing Business
Here, You are the manufacturer of goods.
Observe in your surroundings as a lot of ideas which are successful, come from looking people’s problem.
Look for the unorganized sector which you can present an organized and efficient way.
E-commerce is a great example of the evolution of unorganized into the organized sector.
Uber, Ola, Swiggy, these are the brilliant presentation of traditional business to easy services.
What are people not getting easily? What can you do better for the customers? How can you satisfy the customers?
These questions need to be answered in your business.
Try to make people happy then people would become your permanent customers.
There are a lot of startups which are successful in copying others.
Flipkart, a copy of Amazon, Ola cabs, a copy of Uber.
Lots of social networking sites are successful.
But doing a similar business comes with competition.
Sometimes copying business is not good if can’t compete with the big fish.
In India, Reliance Jio has taken over every telecom giant like Airtel, idea by offering very cheap services.
However, Reliance Jio was a newcomer.
A business should be easy to setup, raw should be in abundant supply.
Manpower should be easily available.
Most importantly, your team should be great.
There has to be great communication and coordination between top to bottom.
Do the things in simpler and efficient way.
Avoid unnecessary spending.
There is a probability that you will fail a lot of times.
But, as the Dropbox CEO, Drew Houston says
“Don’t worry about failure; you only have to be right once.”
Read: which is better? A job or a business