We can bet you guys all know Google. Many have an Instagram page, someone went on a date at KFC or traveled to a nearby town using BlaBlaCar, and if you're a creative person, you are probably familiar with the colorful and inspiring Pinterest service. Believe it or not, these giants all started as startups. It was this cool idea that was the first step towards world recognition. How do you find her?
It's great if the idea comes to you in the middle of the night or while you are standing in line for groceries. But will she be strong enough to change the lives of many people? We will tell you how to find a really promising idea in this article.
It is believed that startups focus exclusively on the development of high-tech products, but this is not entirely true. The essence of a startup is to find innovative ideas that can affect the lives of a large number of people. McDonalds is an example of a non-tech startup that later became one of the largest companies in the world.
Starting your own business has material advantages over working for hire. First, you are building a business that has growth potential, and your wallet grows with the company. Second, your business itself is a valuable asset. As it grows, it will cost more and more, and, if desired, can be profitably sold.
The desire to create new things and bring ideas to life is natural for a person. Don't ignore him. Perhaps you are one of the great future innovators who at the moment considers himself to be just a dreamer.
Foresight begins with the ability to notice and critically interpret the information that surrounds you. That being said, any idea of the future that emerges should seem somewhat ridiculous, because foresight is a weapon against ingrained thinking and prejudice. If the startup idea you're hatching makes you feel a little uncomfortable, that's a good sign.
However, you shouldn't confuse strategic foresight with dreaming up wild futuristic scenarios, you just need to turn on critical thinking, abandon the status quo and use the opportunities available to you. It was the implementation of strategic foresight that led to the creation of the video hosting giant YouTube.
If you want to develop critical thinking, learn to build correct inferences, master effective techniques for finding solutions and become more attentive, come to the online program "Cognitive Science".
It seems that the potential of such an undertaking is great, because there are millions of people in the world who have pets. In fact, such a social network does not solve any specific problem, so there is no motivation to use it.
Here's a good example: the Remind mobile app, developed by the Kopf brothers. The essence of the idea is to establish remote communication between teachers, students and parents. Through the app, educators send their students and their parents reminders of homework, exams and rewards, allowing parents to be involved in their child's life and education.
The application solves an urgent, real problem of a large number of people. It is downloaded by over 300,000 users in the United States at the beginning of each school year. But it all started with the fact that one of the Kopf brothers dreamed of finding a way out of a personal predicament: he thought about a way to receive notifications about his child's exams in advance and remotely.
What is passion? Should someone who loves baking pies as a hobby use this idea for a new business? Passion is not a dream or hobby, but a strong desire, enthusiasm for something, an emotion that lives within you and leads to the goal. It builds confidence, curiosity and motivates to move, despite the difficulties.
The passion for change, the pursuit of meaning, rather than the pursuit of money, defines a true entrepreneur. The history of the creation of GoPro action cameras is proof of this. The original idea for GoPro came to its creator Nicholas Woodman in 2002 while surfing the luxurious waves off the coast of Australia.
He noticed that in order to get clear shots while on the move, athletes had to resort to outside help from professional photographers. This led to the idea of creating a camera that would be attached to the surfer's wrist and allow him to take high-quality shots on the move himself.
The idea completely captured Woodman and turned into a real passion, thanks to which he amassed the initial capital, selling seashell straps straight from his camper van and spending 18 hours a day designing and building the first GoPro prototypes in the tiny bedroom of his apartment.
You don't have to go to market with a completely unique product to be successful. Being first also means failing first. If you are planning to start a startup, think about how to improve the technology with which your predecessor miscalculated, then you do not have to master the market from scratch, which means you can more easily get funding. At the same time, you should not just copy an existing product, but provide an improved version of it and fix the mistakes that your predecessor made.
This is exactly what Drew Houston, founder of Dropbox, a file hosting company considered one of the best startups in Silicon Valley, did. Before Dropbox, there were at least six cloud storage in the marketplace, so Houston's idea was initially rejected by investors. How did Dropbox become a high-performing startup and Houston a billionaire? He took into account the marketing mistakes of his predecessors, was able to build a competent promotion and provided users with bonuses that competitors did not think of.
If you look at the stories of successful startups, you will realize that they originally sought to change the world of a small number of people, not the entire planet. Don't aim to cover the entire Earth at once , focus on a specific audience whose problem your product can solve better than others. Once you do this, you will start to grow faster than you anticipated.
Admittedly, coming up with a unique startup idea isn't easy. It is even more difficult to make it meaningful and to benefit from its implementation. We've covered five universal ways to help you develop a user-centric idea. If you believe with all your heart that you can benefit people, and difficulties only temper you, go for it! The world needs startups, because they are catalysts for change and bring the future closer.
Friends, remember the words of the ancient Greek storyteller Homer: "Fortune loves the brave, and the fact that you do not see the light at the end of the tunnel does not mean that darkness awaits you ahead." Follow your passion, believe in success and never give up!
It's great if the idea comes to you in the middle of the night or while you are standing in line for groceries. But will she be strong enough to change the lives of many people? We will tell you how to find a really promising idea in this article.
Startup in brief
There is no universal definition of a startup. In short, a startup is a young company working on a problem, the solution to which is not obvious and does not guarantee success. To explain the essence of the term, let's list the signs common to all startups:- Age. A startup is a newly formed company that is still in the early stages of brand management, sales and recruiting.
- Innovation. Startup entrepreneurs either create completely new products that are currently not on the market, or fundamentally modify existing ones.
- Height. The goal of a startup is to grow and expand rapidly, sometimes reaching radical proportions. This is one of the features that differentiates it from a small business.
- Risk. At the initial stage, the start-up invests all his efforts in searching for ideas for a unique product, investment and market, while the company's business model is not clearly defined, so there is a high risk of failure of a new project and there is no guarantee of success.
- Flexibility. The startup is dynamic and adapts quickly to emerging adversity.
- Focus on practical problem solving. The challenge for any startup is to create a product that will improve the lives of real people.
- Scalability. Ability to grow without attracting additional human or financial resources.
- Labor collective. Typically, a startup employs no more than 100 people.
It is believed that startups focus exclusively on the development of high-tech products, but this is not entirely true. The essence of a startup is to find innovative ideas that can affect the lives of a large number of people. McDonalds is an example of a non-tech startup that later became one of the largest companies in the world.
6 reasons to start a startup
If a startup is a lottery that doesn't guarantee a win, then why create one at all? Here are 6 reasons to take this step:Make a dream come true
Many entrepreneurs start their own businesses to make their dreams come true. A startup is an opportunity to fulfill your mission, to shape a company so that it will inspire pride and become a legacy for your children.Achieve financial independence
If you are striving to get rich, there is no reason why you cannot achieve it. Yes, building a successful startup takes hard work, challenges, and perseverance. But the ultimate goal of financial comfort is worth it.Starting your own business has material advantages over working for hire. First, you are building a business that has growth potential, and your wallet grows with the company. Second, your business itself is a valuable asset. As it grows, it will cost more and more, and, if desired, can be profitably sold.
Have control over your own destiny
Let's say you are an excellent engineer or manager and you can get a high-paying job at any time. However, being hired means that your stability is in someone else's hands, out of your control. It is not known if a promotion or a payroll is awaiting you. Starting a startup is absolute responsibility and control over your own destiny. Moreover, if you decide to start a family business, you can provide jobs for relatives.Create the right team and make real friends
People who go through many difficulties and adversities on the way to achieving the goal become more united. Therefore, a startup team that faces various barriers to success is likely to have high group affection, low turnover, and friendships.Get funding
Many do not dare to organize a startup due to the lack of initial capital. If you are able to offer investors a unique and promising product, then you can count on the following financing options : business angels are individuals who invest in startups in exchange for a share in the capital; crowdfunding - the practice of attracting investments from several sponsors simultaneously through special sites; venture funds are organizations that provide startups with capital, strategic assistance, and introduce them to potential clients and partners.Influence the progress of humanity
By creating a startup based on a promising idea, you can not only make life easier for people, but also contribute to the growth of regional, national and global economies. How? It's simple. Startups create new jobs with salaries that tend to be higher than average income. They stimulate creativity, especially among young people who, having witnessed the success of other startups, decide to pursue their own projects. Innovation improves the country's position and status, becoming a magnet for foreign investors.The desire to create new things and bring ideas to life is natural for a person. Don't ignore him. Perhaps you are one of the great future innovators who at the moment considers himself to be just a dreamer.
How to find an idea for a successful startup?
The ancient Chinese philosopher Lao Tzu wrote: "The path of a thousand li begins with the first step." The first step for any startup is to come up with an idea. We offer you 5 ways thanks to which a lot of brilliant ideas appeared, and subsequently great companies:Implement strategic foresight
The startup's job is to lead the world to the future that it envisions. To do this, you do not need to look into a crystal ball or take advice from a fortune-teller, but it is enough to implement strategic foresight, i.e. the ability to make educated guesses.Foresight begins with the ability to notice and critically interpret the information that surrounds you. That being said, any idea of the future that emerges should seem somewhat ridiculous, because foresight is a weapon against ingrained thinking and prejudice. If the startup idea you're hatching makes you feel a little uncomfortable, that's a good sign.
However, you shouldn't confuse strategic foresight with dreaming up wild futuristic scenarios, you just need to turn on critical thinking, abandon the status quo and use the opportunities available to you. It was the implementation of strategic foresight that led to the creation of the video hosting giant YouTube.
If you want to develop critical thinking, learn to build correct inferences, master effective techniques for finding solutions and become more attentive, come to the online program "Cognitive Science".
Solve a personal problem
One of the best ways to come up with a great startup idea is to find a pain point that you constantly deal with and would like to get rid of. Sounds obvious, but many startups are created to solve fictitious, fabricated problems. As an example, the idea of creating a social network for pet owners that really appeared on one of the crowdfunding platforms can be cited.It seems that the potential of such an undertaking is great, because there are millions of people in the world who have pets. In fact, such a social network does not solve any specific problem, so there is no motivation to use it.
Here's a good example: the Remind mobile app, developed by the Kopf brothers. The essence of the idea is to establish remote communication between teachers, students and parents. Through the app, educators send their students and their parents reminders of homework, exams and rewards, allowing parents to be involved in their child's life and education.
The application solves an urgent, real problem of a large number of people. It is downloaded by over 300,000 users in the United States at the beginning of each school year. But it all started with the fact that one of the Kopf brothers dreamed of finding a way out of a personal predicament: he thought about a way to receive notifications about his child's exams in advance and remotely.
Follow your passion
If you are starting a business, and your heart and eyes are off, it is better to stop right away. Passion is the key to success. You must have a passion for what you plan to do to keep you from giving up during difficult startup times.What is passion? Should someone who loves baking pies as a hobby use this idea for a new business? Passion is not a dream or hobby, but a strong desire, enthusiasm for something, an emotion that lives within you and leads to the goal. It builds confidence, curiosity and motivates to move, despite the difficulties.
The passion for change, the pursuit of meaning, rather than the pursuit of money, defines a true entrepreneur. The history of the creation of GoPro action cameras is proof of this. The original idea for GoPro came to its creator Nicholas Woodman in 2002 while surfing the luxurious waves off the coast of Australia.
He noticed that in order to get clear shots while on the move, athletes had to resort to outside help from professional photographers. This led to the idea of creating a camera that would be attached to the surfer's wrist and allow him to take high-quality shots on the move himself.
The idea completely captured Woodman and turned into a real passion, thanks to which he amassed the initial capital, selling seashell straps straight from his camper van and spending 18 hours a day designing and building the first GoPro prototypes in the tiny bedroom of his apartment.
Improve existing technology
Pablo Picasso said: "Good artists copy, great artists steal." Steve Jobs followed this same principle, honestly stating that Apple is shameless when it comes to stealing great ideas.You don't have to go to market with a completely unique product to be successful. Being first also means failing first. If you are planning to start a startup, think about how to improve the technology with which your predecessor miscalculated, then you do not have to master the market from scratch, which means you can more easily get funding. At the same time, you should not just copy an existing product, but provide an improved version of it and fix the mistakes that your predecessor made.
This is exactly what Drew Houston, founder of Dropbox, a file hosting company considered one of the best startups in Silicon Valley, did. Before Dropbox, there were at least six cloud storage in the marketplace, so Houston's idea was initially rejected by investors. How did Dropbox become a high-performing startup and Houston a billionaire? He took into account the marketing mistakes of his predecessors, was able to build a competent promotion and provided users with bonuses that competitors did not think of.
Focus on solving problems of a narrow audience
A typical mistake that many startups make is the unbridled desire to start a company like Facebook or Google on the first try, become everyone's favorite and change history forever. Such ambitions, as a rule, do not resonate with investors. Remember, the industry giants didn't succeed overnight. For example, the largest social network in the world, Facebook, was originally used only by Harvard students. Then other educational institutions joined it. And only after a few years Facebook has become the giant it is today.If you look at the stories of successful startups, you will realize that they originally sought to change the world of a small number of people, not the entire planet. Don't aim to cover the entire Earth at once , focus on a specific audience whose problem your product can solve better than others. Once you do this, you will start to grow faster than you anticipated.
Admittedly, coming up with a unique startup idea isn't easy. It is even more difficult to make it meaningful and to benefit from its implementation. We've covered five universal ways to help you develop a user-centric idea. If you believe with all your heart that you can benefit people, and difficulties only temper you, go for it! The world needs startups, because they are catalysts for change and bring the future closer.
Friends, remember the words of the ancient Greek storyteller Homer: "Fortune loves the brave, and the fact that you do not see the light at the end of the tunnel does not mean that darkness awaits you ahead." Follow your passion, believe in success and never give up!
