How To Own a Successful Startup

Since startups have become more and more popular recently especially with the increased number of consumers using the applications and the web sites that are produced by said startups, as well as the appeal for young people to establish their own businesses, Faydety will tell you in a series of articles how to have a successful startup, and the steps you need to take.

How to get startup ideas?

Any project or business is originally just an idea, which you need to reach first in order to be able to build the rest of the steps on it. 

You may already have a startup idea in mind or you may just want to be an entrepreneur but don’t have a specific idea on how to start and in this case we will help you and tell you the types of ideas that you can choose from.

Types of startup ideas:   

1- A service or product that is needed in the market:   

In any case, let’s agree that the project must appeal to the largest number of consumers possible or you run the risk of having a small consumer base and as a result your success rate will be weak. 

Therefor you must research the market you wish to enter and confirm if there is an opportunity to successfully enter it or if the market does not need you.   

2- Spontaneous ideas:

This type of idea is totally spontaneous. You can be driving and singing along with the radio and suddenly this idea comes to your mind. 

More often than not it is a service or product that will help facilitate people's daily lives and you reach this idea because you want to solve a problem you face every day.   

“Any project or business is originally just an idea, which you need to reach first in order to be able to build the rest of the steps on it

3- Hobby:

Your hobby can turn into a successful project, even if the hobby is a handicraft that you are good at. You will need to open a studio or workshop, gather a good team, and start the project.

4- What do you have experience in?

Look for an idea in your area of expertise because in this case you will not be entering a new market, and you will already have established connections so you won’t have to start from the beginning.

5- Develop/upgrade old ideas:

If there is an idea that’s been available on the market for a while but you feel that you can improve upon it and make it unique then why not do so? Don’t forget that many international companies started in the same way and were able to dominate the market later. These companies include: 

Facebook that came after MySpace 

Gmail that built on the ideas of Yahoo and Hotmail