What business can you startup in a world where startups are commonplace?
Our world is a lot different then it was 20 years ago. Well I say different but perhaps it was the same on a larger scale...in particular I want to focus on what it takes to startup a new business these days.
Of course business startups happen all the time but even 20 years ago it was more commonplace to look to an established organisation for work rather than consider starting up your own business. However over the past twenty years it has definitely evened out, with it becoming a cultural norm to start your own business - either from the start of a career or in the middle of an established one.
That being said, when you go to start a new business these days it's like trying to find a domain name that hasn't been taken. It is EXTREMELY difficult to come up with a business idea that hasn't already been thought of or already put in place. New ideas will mostly come from extreme creatives or from people who have been impacted by an extreme event that leads them to an idea - the originality of the event is the driver of this. So where does this lead us?
I would say there are two good paths to contemplate when considering whether to startup your new business. One, can you do something more effectively then what is already being offered out in the market and two, can you operate a business that supports existing businesses? My thought is that if there are more and more businesses being started up, all of varying sizes, industries and substance (online or bricks and mortar) there is greater opportunity to start a business that supports these. One example is Crunch Accounting (www.crouchaccounting.co.uk) which was setup to service freelancers and contractors in the UK. Why was that? Because the market for independent freelancers is continuing to increase because organisations want to reduce their fixed overhead costs. These freelancers need accounting performed and Crunch provides an effective online platform. Now would this business have worked 20 years ago? No way...and probably not even 10 years ago. I'm a little surprised it has taken so long to kick-start but it is one great idea.
So when it comes to starting your new business, don't try to beat them or even join them. Perhaps it makes more sense to support the new businesses being created everyday.
Of course business startups happen all the time but even 20 years ago it was more commonplace to look to an established organisation for work rather than consider starting up your own business. However over the past twenty years it has definitely evened out, with it becoming a cultural norm to start your own business - either from the start of a career or in the middle of an established one.
That being said, when you go to start a new business these days it's like trying to find a domain name that hasn't been taken. It is EXTREMELY difficult to come up with a business idea that hasn't already been thought of or already put in place. New ideas will mostly come from extreme creatives or from people who have been impacted by an extreme event that leads them to an idea - the originality of the event is the driver of this. So where does this lead us?
I would say there are two good paths to contemplate when considering whether to startup your new business. One, can you do something more effectively then what is already being offered out in the market and two, can you operate a business that supports existing businesses? My thought is that if there are more and more businesses being started up, all of varying sizes, industries and substance (online or bricks and mortar) there is greater opportunity to start a business that supports these. One example is Crunch Accounting (www.crouchaccounting.co.uk) which was setup to service freelancers and contractors in the UK. Why was that? Because the market for independent freelancers is continuing to increase because organisations want to reduce their fixed overhead costs. These freelancers need accounting performed and Crunch provides an effective online platform. Now would this business have worked 20 years ago? No way...and probably not even 10 years ago. I'm a little surprised it has taken so long to kick-start but it is one great idea.
So when it comes to starting your new business, don't try to beat them or even join them. Perhaps it makes more sense to support the new businesses being created everyday.
Labels: business plan, business startup, business strategy, entreprenurial, new business, new idea, new venture
posted by Daryl Close at
12:43 PM
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