Modern businesses are always more relevant. With the new decade approaching us, questions regarding the modernity of a business should be a priority for every entrepreneur. Starting a modern, technologically savvy business could mean the difference between success and failure, but how can you take a startup idea you’re passionate about and transform it into something truly modern? Here are some ideas to help you modernize your startup.
An Online Presence is Fundamental
Before considering the details of your startup idea, take a step back and consider how you can integrate your business into the online world. Uber, Airbnb, Amazon and a whole lot of other businesses have shown how a technology-based service can help you grow a successful business in no time.
However, your interest might not be in creating a business focused mainly around your online presence. Many startups models such as restaurants, hotels, hairdressers and health professionals still require a physical presence to operate.
In these cases, where having a physical location for your business is essential, try to think of ways you can improve your customer experience through online interaction. Some great ideas for modernizing traditional businesses include:
- Be sure to have a presence on social media, especially Facebook, as it will help new customers find you online.
- Pay attention to SEO. Make sure your website is optimized for SEO and create a Google My Business profile so you can take advantage of local SEO.
- Create your own email newsletter to inform customers about any special offerings or news at your company.
- Enable customers to make bookings or appointments online through your website. If you want to take this one step further, create your own app.
Perhaps you’re planning to sell a physical product instead of a service. If you’re selling a product rather than a service, instead of allowing customers to make appointments online, add an online store for your business.
Adding an online store to sell your products is a great way to get extra business. Especially for products that are unique, this could attract a global client base, which is a great way to expand your business if you’re willing to ship your product. Allow local customers to order products online and give them a choice between collection or delivery.
Transform an Industry with Technology
When trying to think of a modern idea for a startup, think about successful businesses and how they managed their success. Referring back to businesses such as Uber and Airbnb, both businesses had a similar model. Both Uber and Airbnb provided a platform for ordinary people to earn extra income by bringing together demand and supply.
Airbnb allowed people to rent out rooms in their homes. This transformed the hospitality industry, adding a new option of cheap accommodation, well-suited for young, bootstrapped travelers. On the other hand, the people renting out rooms were able to earn extra income. It’s a win-win situation, where both parties benefit financially from using the site.
One of the most important things to note with the Airbnb business model, is that it most likely required relatively little upfront investment. Compared to launching a hotel group, setting up a website like Airbnb was probably cheap and easy.
Another important thing to notice, is that Airbnb’s business model allowed them to expand rapidly with ease. If they had started a youth hostel, expanding into different countries would require them to physically have accommodation to rent out in those places. With their business model, however, Airbnb took advantage of the fact that many homeowners all over the world have extra rooms, allowing them to expand globally with ease.
Notice how Uber also functions in a similar way but focuses on the taxi industry rather than hospitality. Uber also brings together demand and supply, allowing people benefits such as easier access to taxis. Developing the app, once again, was most likely much cheaper than buying a fleet of taxis and allowed Uber to expand globally more easily.
If you can craft a feasible business model similar to the ones mentioned above, there’s a good chance you’ll have great success. Simply think about existing industries and how you can transform them with technology.
Make Sure Your Startup Idea is Still Relevant
Some startup models will probably never grow old. People will always need doctors, contractors, plumbers and stores. Despite the fact that the world around us is becoming ever more technological, it’s unlikely that being modern will ever trump good service.
Because of this, you don’t have to invest too much effort into adding a technological element into your business if you can’t think of anything. If your industry simply doesn’t lend itself to being very modern, that’s okay. Just make sure you market your business online through your own website and social media.
On the opposite extreme, if your focus is to start a technology company, make sure that your business is bringing something new into the market. Starting a social networking site or online dating site might seem like a good idea, but there are already big players dominating these industries. You’ll need to add a very special twist to your idea to make it stand out and attract people.
Brainstorming Startup Ideas: What Do Modern People Want?
Modern people might be more technologically advanced, but they’re not above basic needs such as eating. There are, however, some trends that are growing among young people and these are good to look out for if you’re planning to start a business.
Some growing trends among young people include:
- Healthy eating
- Luxury pet care
- Environmental awareness and natural living
- Minimalist living
- Travelling on a budget
- Technology and gadgets
If you have a feasible startup idea aimed at serving one of these trends, you might just be onto something. By combining your startup idea with ultimate convenience and technology, you’re chances of succeeding will grow even more.
Startup Ideas Based on Trends
When creating a business based on a trend, one of the main things keep in mind is how long the trend will still be going. Health and fitness, for instance, has been a popular interest and trend among people for a long time now, and it doesn’t seem to be losing popularity. On the contrary, it’s always a growing industry.
But there are also trends that don’t last as long. Hobbies such as post stamp collecting or even scrapbooking are much less popular nowadays. Interests centered around specific entertainment franchises such as a popular TV show or computer game, will also most likely have a spike of interest with an inevitable decline in popularity.
Startup Idea #1: Healthy Eating
You could target the healthy eating trend by starting a food delivery business to provide customers with healthy meals on a daily basis. Instead of running your own restaurant or coffee shop, you could simply have a kitchen space to prepare these meals and then send them off for delivery.
The great thing about this kind of business model is that you could start small and local and expand as you go along. Furthermore, you can focus your product on a diet you’re passionate about, such as a keto or vegan diet.
Even if you prefer the idea of a brick and mortar place, focusing on healthy eating can help you create a great niche for yourself in the industry.
Startup Idea #2: Luxury Pet Care
If you like the idea of delivering healthy food, you’ll love this idea. Offer to deliver healthy meals for pets! People have always loved their pets, but younger generations are taking pet care to the next level.
This idea can even be combined with the previous one, by offering to deliver healthy meals to both pets and their owners. A good all-in-one convenient service.
Startup Idea #3: Environmental Awareness and Natural Living
Providing a solution to any pressing environmental problem can prove to be a great business model for modern times. Whether you’re looking to produce cardboard alternatives to plastic, create a product from recycled materials or help improve upon an existing solution, there’s always a gap in the market for protecting our planet.
Just keep in mind that for an idea to be feasible the cost must justify the benefit. Many business models focused around caring for the environment target businesses as their customers. Selling environmentally friendly alternatives to a business will be much easier if you can show them that it’s financially viable.
To cover the gap in the natural living space, consider an idea like starting a farmer’s market for preservative, pesticide and hormone free foods.
Those are just a few ideas to get your started. Further ideas could include targeting the minimalist trend with a construction company specializing in tiny houses, or creating a new gadget to help people organize their lives better. There’s are truly endless possibilities to start a great business that you’re passionate about.