Here are some interesting business ideas from the Digital Assets newsletter with some advice on how to implement them. This article is worth a read if you are struggling to find a good startup idea.
Here are the ideas:
CRM for Freelancers “Solution – Enter freelancer CRM to handle all of the sales and admin tasks that most freelancers don’t enjoy. Keep the functionality easy and simple. Functionality to filter on contacts, pipeline, and tasks. Integration with email marketing would be another great idea.”
KPI Tracker “Link/KPI tracker. It will allow the user to create a link for a promotion and then track specifically how that link performed.”
Team Communication/Zaps “Zoom is clearly the leader in online meetings and chatting, and now they just introduced Zaps. I think this can be huge going forward into 2020.”
Bookmarking Extensions (devs and designers) “As a developer, I bookmark tabs all the time so I can reference back to them. It would be awesome to add some notes as I read, and have more of a better user experience than just a long list of bookmarks in Chrome.”
Content planner “Solution – A simple, easy to use a content planner that multiple people can edit and view, and sends alerts to the people working on it when it starts to get close to the time it needs to be sent out and after it is sent out.”
There are some good ideas here that are worth exploring.
“This guide shares a real-life case study on how to grow a digital marketing agency from an idea into a six-figure business.”
While I’m not a big fan of the agency business model, this is a very comprehensive article with some good ideas on how to differentiate your company, cold outreach, pitching clients, creating systems, etc.
Productized services are a great business model. Rather than always try to find new clients and doing custom consulting, productized services allow you to charge a monthly fee for relatively standardized services that are easily outsourced.
WPTangerine offers unlimited WordPress editing for a monthly fee. This is a great business idea and can be done in many niches.
You don’t always need to be unique or first. This is the same idea that Dan Norris of WP Curve started many years ago. The company was sold to GoDaddy.
Almost every type of consulting or agency work could shift to a productized service model.
Here are some frameworks for thinking about new startup ideas:
-Bottom up vs Top Down -Find Founder-Market fit -The 10x rule -Leverage Enabling Technologies -Answer “Why Now” -Figure out how to utilize otherwise idle assets. -“When they go high, you go boring” -Don’t pick bank shot ideas
If you are stuck on coming up with your next business idea, systematically exploring different frameworks can help.
“What makes you new, different, and unique in the world will often be the exact thing that makes you succeed. Embrace your differences, and you’ll find something amazing in there. Learn how founders like Steve Jobs, Bill Gates, Ryan Petersen of Flexport, and Jack Conte of Patreon did exactly that: learn things from unique personal experiences that put them on the right path.
And if you can do that, you avoid infinite competition. You can make something truly awesome. “
Shaan Puri and Sam Parr have another insightful conversation on the My First Million Podcast. There are two big ideas here:
Shaan talks about the value of telling stories around key ideas you want to be known for.
– Amazon famously used doors for desks in its early days. That tells a great story about the frugality and focus of the company when it was getting started. – Shaan wants to be known as bold, so he tells the story of how he contacted a famous chef for advice immediately after getting the idea to start his sushi restaurant.
What do you want to be known for? Tell stories that embody those characteristics. This is a worthwhile exercise to spend some time on
Business Opportunity: Later in the podcast they introduce a great business idea.
The simple landing page builder Carrd is taking off just because it is so simple to use. It doesn’t have the features of bigger landing page builders, but that is what makes it so easy to use.
Shaan thinks there is a good opportunity to do this for Shopify stores. Everyone needs landing pages for special offers, events, etc. A simple landing page builder for this market could do very well.
Since it was mentioned on the popular My First Million podcast, you can bet that many will be working on the idea now. May the best startups win. There is room for more than one company to do this.
1. You ‘just’ need two skills. Learn to Build. Learn to Sell. If you can do both you’ll be unstoppable. – @naval 2. The best way to create an entrepreneur’s mindset is by launching businesses. 3. Create a portfolio of smaller bets. 4. Three levels of customer insight: Critical Pains, Jobs to Be Done, and Zeitgeist 5. Validate Everything. A startup is nothing but a series of validations. 6. Create Value Exchanges. “Magic happens when you connect multiple stakeholders (your customers) in a way where they each answer the other’s needs.” 7. The most overlooked part of building a startup is Distribution. 8. Super Branding is a Superpower. 9. Culture is more important than Team. 10. The only trait I would recruit for: Resourcefulness.
Here’s an interesting look at the business of buying and selling domain names. I thought that all the good names have already been taken, but it looks like there are still opportunities with .io and .ai domains.
The key lesson for me is that it’s critical to automate tasks like searching for and purchasing domains. A lot can be accomplished with automated scripts and scraping.
“You can think of the studio model as a powerful de-risking machine. The main way it de-risks is through diversification. Studios improve their chances of success by taking a bunch of shots on net rather than just one.
Because studios become experts at rapidly generating and testing ideas, the cost of each attempt is much less than it would be for a normal startup.
A killer studio can hit product/market fit with multiple products each year.”
Here is a comprehensive guide to finding business opportunities on Reddit.
Unbundling popular platforms is a good framework for discovering business ideas and provides a clear marketing channel of engaged users. Companies like Airbnb, Upwork, Reddit, and Tinder came out of the unbundling of Craigslist.
Corbett Barr of Fizzle.co offers his business predictions for next year. I’ve been sharing many links about the creator economy and paid newsletters, so I’m very bullish on those trends.
Two of the more interesting observations are JamStack websites and Video Books
I’ve researched static websites a lot and agree these will grow in popularity because of the faster page loading times and elimination of security issues.
The idea of video books can be extended to almost all the information we consume. We need better ways to curate and summarize important information. There will be many opportunities like this in the future.