Startup Business Idea # 2 – One Stop Startup Hub (The king of startup)
It’s the generation of entrepreneurs, with more individuals opting to start their business instead of pursuing top careers like engineering. That being said, according to a recent study, only 56% of businesses make it their fifth year since inception. This means that 44% of companies fail within the first five years. The number one reason for startup failures, according to CB Insights, is the lack of market need for the product or service.
You may have great talent and a passion for making your business a success, which are the most important factors of a great entrepreneur. However, you will never be able to build a successful company unless you have a great idea that would compel people to open their wallets. With this aim, we analyze various aspects of different industries to find gaps that can turn into great ideas.
In this article, we will talk about being the king of startups by creating a one-stop startup hub.
The Market Potential
There is no doubt that the startup industry is flourishing. While it’s true that there are many stories of startup failures, the overnight successes and multiple rags-to-riches stories of many successful entrepreneurs is motivation enough to keep people going. After all, who doesn’t want to be their own boss?
A study conducted by Get2Growth states that on average, 100 million startups are registered annually across the globe, and currently, there are about 305 million startups that are in business. Moreover, due to digitalization and advancing technologies, the geographical borders are blurring, and almost every startup has the entire world as its target audience. This has only added fuel to the startup fire.
Added to this, the rise of startups has created multiple job opportunities and brings in added revenue; hence, the government of India has played an exceptional role in motivating young individuals to start their own companies through various schemes and programs.
The startup culture is on the rise and doesn’t intend to slow down any time soon.
Every entrepreneur indeed needs to have a great business idea and be extremely passionate about it to ensure the company reaches great heights of success. But, that is just the stepping stone to attaining real success. A great ideal and skills are just the first step in the right direction. Businesses come with a whole host of challenges that no one person can be knowledgeable about. Sure, a good entrepreneur might have a great understanding of their product and its market potential.
Additionally, they may also be proficient with marketing and sales. But, what are they doing about registering the firm optimally? Or, how are they going to develop a responsive website? Better yet, how will they find the time to create the product, market it, as well as find a new office and hire resources to develop the product?
Yes, being your boss is fun, but it comes with a herd of challenges as well. These challenges lead to anxiety and stress, and often the entrepreneur makes a wrong decision which eventually leads to the downfall of the company. While it’s true that every new business owner needs to wear multiple hats, but what if you waste all of your time learning how to hire resources instead of perfecting your product?
This often leads to entrepreneurs outsourcing their work to freelancers. However, no one agency or company helps startups stand on their feet in one go. Due to this, entrepreneurs need to invest a lot of time in finding new agencies for every task and then coordinate with them and ensure everything is being executed flawlessly. This takes a lot of time from the entrepreneur that could have been invested in other tasks.
Unfortunately, there is no one-stop-shop hub, wherein all the formalities, legalities, marketing, etc. are done by one company. This is your chance to change that!
Imagine a company that provides all the services and products that an entrepreneur could need before using launching their own business. These services include getting registrations, created a website with search engine optimizations, technical support, social media manager, office space, freelancers, etc. Sound’s great right? You could make this a reality.
The main goal of this company would be to reduce the burden and stress from entrepreneurs, thereby creating a win-win situation for our clients and us. You could create a central place wherein all the services an entrepreneur could need are available, essentially acting as king of startups!
There are thousands of startups registering in India and around the globe daily. These entrepreneurs are driven and want to start seeing some real results as soon as possible. Hence, they don’t have the time to interview tens of companies and vendors for ten different things. The introduction of your one-stop startup hub is sure to be the boon that they were looking for!
Consumers, Earning and investment input-