Crazy Startup Ideas That Paid Off

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Crazy Startup Ideas That Paid Off
08.11.2017 16:04

Startup ideas initiate after looking for problems, and preferably problems people have themselves. These are actually what the founder themselves wish for, what they themselves can build, and what few others realize are worth doing. Microsoft, Google, Facebook, Apple, and Yahoo are all tends to begin this way.

 

Venture capitalists, mainly in Silicon Valley, would like to make out startups of the rarest kind; startups with a shot of becoming the next Facebook, Apple, or Google. These ideas are audacious, crazy, or stupid trying to create a market where none existed.

 

Here is a rundown of five wilder startups explained by Oleksiy Nesterenko that had their legs firmly planted on the ground.

 

Xiaomi

Xiaomi, the world's third-largest smartphone producer, is founded in China in 2010. It has ventured beyond smartphones into other consumer and smart home gadgets. Xiaomi doesn't believe in earning profit by sales of phones yet rather, it relies on purely online distribution while others send their merchandise to physical retail locations. It uses Android and relies on its users heavily for feedback. It plans to make money from e-commerce and services.

 

Why did it work?

  • The blend of these practices drove its item cost down.
  • Gathering and executing user feedback drives up user loyalty.
  • It spares money from warehousing and empowers brisk changes to its products.
  • The users are flattered for their suggestions made into the product, which transforms them into fans and evangelists.
  • Next to Apple, Xiaomi is one of the few consumer electronics companies with as devoted a following.

 

FlipKart

With the growing trend of e-commerce, Flipkart has to triumph the spot of the largest e-commerce site. Former Amazon employees Sachin and Binny Bansal have started it in 2007 which has owned the valuation of US$11 billion now. The idea embarks on the time when India lacked delivery communications for e-commerce and the people weren't familiar with online shopping or offline retail.

 

Why did it work?

  • It focuses on a category that had low start-up costs.
  • It earns the trust of consumers over online shopping with the development of cash on the delivery payment system.
  • Development of its own supply chain management system for delivering goods on time.
  • Flipkart offered huge discounts on its items studying price sensitive nature of Indian consumers.
  • It grants a wider range of goods than ever.

 

Slack

Slack was founded by Stewart Butterfield, who initiated Flickr- a photo sharing site. It is an office communication chat tool that was launched in August 2013 with more than 30,000 teams using it. Slack wants to replace the office email by integrating office communication and work documents and be the one app that is used all the time in the office.

 

Why did it work?

  • It puts together all the major enterprise apps like Google Apps, Dropbox, Zebdux, GitHub, Heroku, and more.
  • Slack has a search feature that allows accessing your document data and history instantly and maintaining track of what you do on these services.
  • Chat is the Trojan horse; this app has got a hot start, and its future seems bright.

 

Razer

Razer is a US company founded in 1998 that builds consumer electronics for gamers with the value of US$1 billion. Razer has recently launched its own smart wristband, the Nabu. It builds gaming mice, keyboards, and laptops and believes in building a hardware company just by servicing gamers. The core business stuck to investing in the PC despite the stagnation and decline of the platform.

 

Why did it work?

  • Gaming has blown up and become mainstream, growing four times in the US from 1889 to 2008
  • Razer looks as if it is prophetic by building niche products almost before that niche existed.
  • Amazon has acquired a site named Twitch that streams video games as they are being played for almost a billion US dollars.
  • Tight integrations between hardware and software have resulted in possessing 30% of the gaming mice and keyword market.

 

Uber

Uber is the largely demanded transportation company in the world with a value of US$40 billion. For drivers, it offers an upgraded approach to picking up passengers and earns income. For passengers, it conveys a ride to your doorstep which they can order from the app. Cash exchange and all other transactions are handled by Uber's system in the background. Uber believes the smartphone can become the prevailing way people get a ride that offers an army of private drivers which can be the complement or even replace the taxi industry.

 

Why did it work?

  • Silicon Valley elites first took off the app with the premium Uber Black service that tends to focus on making users look and yet too convenient.
  • Drivers can easily find the passenger as the smartphone detects the user's location.
  • Payment is flawless and the app automatically deducts from the credit card.
  • Ordering a ride is just a couple of button presses away.

 

WHAT MAKES A STARTUP SUCCESSFUL?

Startups are the voyage on a mysterious pathway, and entrepreneur's visionaries being mollified and reliable on this path. So as to craft the startup fruitful mix of précised vision, speed, social skills, budget management skills, determination, capability to adjust challenges and fundraising quality is required. If you do not have these set of skills, you cannot make your startup a winning endeavor.

It's obvious to face hurdles, vulnerability, and numerous challenges in the way to success, however, to make a raw plan successful one need to buckle down till sought target is accomplished.

 

Looking for someone who can help you in funding issues for your startup then contact Oleksiy Nesterenko Startup Finance; a startup consulting firm that provides the needed financial and strategic insight to enable businesses to thrive. The firm is qualified and equipped to assess your business and all of its needs before you have to make any important decisions

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