Technology has never been as appealing as today. It has proven its full potential for business success and has been used worldwide as the magic wand that turns a lot of ordinary men and women into CEOs and millionaires. Even more astonishing is the fact that the sophistication of technology has allowed the so called sharing economy or crowdfunding to take its course. Not only has it reduced the amount of capital required for new (online) businesses, but it has also made new business set-ups flourish. In fact, five years ago, it was estimated that there were around half a million people establishing their start-up business ventures, thanks to this phenomenon. The number has continued to get higher since then.
While it may look tempting to join the plunge with other new entrepreneurs, it will be wise to take the following popular recent findings of the top tech business ideas into consideration to ensure the viability of your future business.
1. Anonymous social media platforms
Other than the super popular social media apps, like Instagram, Facebook and Path, there is still space for new social based application to bloom, especially if they are designed with unique features. Anonymity can indeed be a unique feature and apps called YikYak and Chat Roulette have proven that the idea of interacting socially with strangers still appeals to quite a lot of people, especially high school and college students who enjoy the thrill of secrets and just want to have fun from chatting and flirting with no strings attached.
2. Learning websites and applications
While the idea of learning may sound boring to some people, there are many others who still have the driving force to learn. Founding a website to provide tutorials and online classes is deemed suitable to meet the current market demand. Some of the examples for this kind of business are Girls who Code and CodeChix, which offer some comprehensive learning about how to make mobile applications and games, how to design, etc.
The success of Udemy, however, is the ultimate proof that this business idea can flourish. Launching the web in 2010 with limited amount of capital, the founders, Eren Bali, Oktay Caglar and Gagan Biyani managed to get tutors and its users to see the potential of affordable online courses. In a matter of months, it opened 2,000 classes and attracted more than 10,000 users. Only then, investors started to pour their money to boost the business growth. Today, the number of users has exceeded 10 millions with more than 55,000 online courses on offer.
3. E-commerce websites for certain, specific products
Although there are already countless e-commerce sites, this business idea can still stand a chance to succeed. Why? Because people have different hobbies and passion. Not only that, they like finding stuff they fancy in no time. Thus, this e-commerce site should be dedicated to one specific area.
To tell you the truth, there have been quite a lot of successful examples of this kind of online business, such as:
- Fierce PC with its devotion to gaming PCs
- Product Hunt, which specifically focuses on most updated gadgets and games
- AHALife with its rare, luxurious things on offer
- Net-a-Porter, the go-to e-commerce website for fashion designer clothes and accessories
A large number of websites are currently inviting their viewers to subscribe. It is commonly known that subscription is one of the ways to earn cash and it has actually proven to work in today’s online business. Some that have reaped the benefit of this idea are:
- Birch Box, which is all about beauty products
- Graze, where you can get healthy and tasty snacks
- MistoBox, which accommodates its subscribers to personalize the taste of their coffee
5. Open publication websites / blogs
Campaign that says ‘sharing is caring’ seems to work out very well. Nowadays, people share almost everything on the Internet. Due to the fact, creating a website that allows user to publish their experiences, opinions, creativity and other things worth sharing can be a simple business idea that brings home margin. The company called Medium has attained its popularity by catering ‘voices’ from its users. Surely, there are guidelines and standards to ensure the quality of the things published.
6. Technical, web/app related business
With the growing interest in tech related businesses, demand for professional, qualified tech skills is also on the rise. Those with the intricate computer skills to create and develop an app, keen eyes for visual website designs, expertise in language and communication may start offering their skills and qualifications on the market. HubSpot is the example of a successful digital assistance and consultant. In coming year app development is one of the main source of startup and it is predicted that the no of Android users will increase a lot by 2018.
Starting a business is more than just coming up with some newfangled idea or some revolutionary technology. Sometimes, the best ideas are the ones that have already been tested overtime. For example, McDonald’s wasn’t build on anything revolutionary. It was simply a burger place. Global brands like Starbucks, Hermes, Zara, Nike, Ogilvy & Mather and countless others are the same.