Unless you are living in a cave, you might have been already hit by a startup wave.Every other guy you know is already an entrepreneur or planning to be one. We keep on hearing stories of young people becoming millionaires in no time
So how are they doing it? Why startups are rising? And why it is the best time for your startup?
1)Shared Assets:
The times where you have to own everything you need start a company are long gone. Now you can share assets at minimal cost.
You plan on starting a website no need go for shopping server’s, every domain seller can host your site.
Using SaaS (Software as a service) products, save companies lot of money on buying, installing, maintaining hardware.
Shared assets led to cutting down costs to greater extents.
2)Finding People:
Everyday websites pop up dedicated to startups helping them to connect with people
Helps you to find cofounder in any city.
You have an idea but are from the non-technical background.Code Army helps you in finding people who are from a technical background.
Startup Grind is the largest global community for Startup Grind is the largest global community for Entrepreneurs, connecting 215,000 founders in over 185 cities.
It helps you in finding people near you who are interested in the same activities as you do. Great way to make new connections.
There are many more amazing resources available to connect people interested in startups which enabled entrepreneurs to build their team in no time.
3)Greater chances of Funding:
There is a great rise in startup funding trends in recent times.From Venture Capitalists, Angel Investors, Crowdfunding to Government introducing policies to fund startups there are many available ways one can raise money.These increased the chances of getting your startup funded
Some resources:
Web site that connects startups to angel Investors
Raise money for your startup through crowdfunding.
4 ways to raise money online for your startup.
4)Availability of On Demand Workforce:
The rise in freelancers decreased the need of having permanent staff. You can hire individuals based on the work you need to get done and pay accordingly.
Elance, Upwork, Freelancer can provide workforce at minimal costs.
5)Effective Market Research:
No more you are entering into unknown market space you can now conduct your own market research to find whether there are customers for your products or not.
Facebook Insights is most powerful tool helps one to learn about their target audience.
Helps to track, report and analyse the web traffic
Create surveys and get feedback about your products
Tools like these tools allow Entrepreneurs to make informed decisions and create products based on customers insights and later check the customer engagement and pivot accordingly saving lot time and money.
6)Producer to Consumer System:
The Rise of websites like Amazon and eBay allowed producers to directly reach the customers cutting down all the middle men and process of going through all the hassles to reach the customers.
Have a product a go sell on Ebay
Recently OnePlus saved a lot of money by selling their products completely online.
7)Platforms:
Uber doesn’t own a single car or Airbnb a single room, but they are worth billions.
Rather than gathering resources they leveraged on Platforms.
They created platforms where providers and customers can meet and gain massive value.
Owning large assets and hundreds of employees is no more a requirement for a billion dollar company
8.Connected World:
Network effect led the world to become more opaque increasing the engagement and collaboration between the customers and companies
Want to reach a customer no need to spend millions on advertising and campaign provide a right hook they are a click away on your social network.
The times where bigger Industries held all the resources and need of high capital to start a company are gone. Now you stand equal chances with bigger companies to compete in the market.
But here is the tricky part, This is the BEST time for your startup but not, EASY time.
Because the basic principle of starting a company still the same.
“It’s fucking hard to start one”.
You are gonna get rejected, your assumptions will fail, you will get bad feedback, receive criticism.
But are you gonna let them stop you?
No, Because you are an Entrepreneur and now is the BEST time for your startup
