Five Crazy Startup Ideas that Pay Off

Five Crazy Startup Ideas that Pay Off

Five Crazy Startup Ideas that Pay Off

Start-up ideas are born out of the need to solve problems. These are the things founders want, what they can create, and what few other people realize are worthwhile. This is how Microsoft, Google and Facebook, as well as Apple and Yahoo, tend to start.

Venture capitalists mainly from Silicon Valley would love to invest in startups that are rarer than others, startups with the potential to become the next Apple, Google, or Facebook. These ideas are crazy, stupid, and audacious. They try to create a new market.

Here’s a list of five more wild startups that were able to keep their feet on the ground.

Xiaomi

In 2010, Xiaomi, the third-largest smartphone manufacturer in the world, was founded in China. It is now a global company that produces smartphones and smart home devices. Xiaomi does not believe in making a profit from the sale of smartphones. Instead, it relies solely on online distribution and other companies send merchandise to physical retailers. It relies heavily on feedback from its users and uses Android. It intends to make money through e-commerce as well as services.

How did it work?

* This combination drove down the item’s cost.

* Increasing user loyalty through gathering and executing feedback.

* It saves money on warehousing, and allows for rapid changes in its products.

* Users are honoured for their inputs into the product. This transforms them into fans, and even evangelists.

* Xiaomi is the second most popular consumer electronics company, after Apple.

FlipKart

Flipkart is expected to be the biggest e-commerce website due to the increasing popularity of ecommerce. It was founded by former Amazon employees Sachin Bansal and Binny Bangsal in 2007. The company is valued at US$11 million. It was in a time when India didn’t have e-commerce delivery services and people were not familiar with either online or offline shopping.

How did it work?

* It focuses only on the category with low start-up costs.

* With the introduction of cash on delivery, it earns trust from consumers.

* The development of its own supply chain management system to deliver goods on time.

Flipkart provided huge discounts for Indian customers who were sensitive to price.

* It allows for a greater range of goods than ever before.

Slack

Stewart Butterfield was the original founder of Slack. He also created Flickr, a site for sharing photos. It’s an office communication tool, which was launched in August 2013. More than 30,000 people use it. Slack aims to replace email in the office by integrating work documents with office communication. It is the only app that can be used every day at the office.

How did it work?

It combines all major enterprise apps such as Google Apps, Dropbox and Zebdux.

* Slack offers a search function that allows you to instantly access your document history and data, and keeps track of what else you have done on these services.

* Chat is the Trojan Horse; this app has a great start and looks bright.

Razer

Razer, a US-based company that makes consumer electronics for gamers, was founded in 1998. It has a market capitalization of US$1Billion. Razer recently launched the Nabu smart wristband. Razer makes gaming keyboards, mice, and laptops. It believes that gamers can be the hardware company they want. Despite the decline and stagnation of the platform, the core business remained focused on investing in the PC.

How did it work?

* Gaming has boomed and is now mainstream. Its popularity has quadrupled in the US between 1889 and 2008.

* Razer seems prophetic, building niche products nearly before the niche existed.

Amazon purchased Twitch, a streaming video game site that allows you to watch your favorite games live for nearly a billion dollars.

* 30% of the gaming mouse and keyword market is now owned by tight integrations between software and hardware.

Uber

Uber is the most popular transportation company worldwide, with a market value of US$40 million. It offers drivers a new way to pick up passengers and generates income. It delivers a ride right to your door, which you can order through the app. Uber’s system manages cash exchange and all other transactions in the background. Uber believes that the smartphone will become the most popular way to get a ride. It also offers a network of private drivers who can complement, or even replace, the taxi industry.

How did it work?

* The app was launched by Silicon Valley’s elite with Uber Black, a premium service that focuses on making users look great and yet is too convenient.

* The smartphone can detect the location of the passenger and allow Hair Dyeing at Home drivers to locate the passenger.

* The app automatically debits the credit card from your payment.

Just a few clicks are all it takes to order a ride.

WHAT MAKES A STARTUP SUCCESSFUL?

Startups are the journey on a mysterious path, with entrepreneurs being obedient and reliable along this path. To create a successful startup, you need to have a combination of speed, social skills and budget management skills. You also need to be able to adapt to challenges and raise funds. These skills are essential to make your startup a success.

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