What are the day-to-day problems of Life on which startup can be started? Read on to know more.
A startup doesn’t need to change the world to succeed. The now well-known brands Amazon, Apple, and Tesla were once start-ups motivated by common issues.
The majority of brilliant company ideas are developed in this way: by motivated business people aiming to address widespread issues.
What are the day-to-day problems of life on which a startup can be started
“What problem does my startup or product tackle, and how painful is that problem?” should be the first question on your startup litmus test.
Consider this question carefully since an accurate answer could help you avoid wasting hours, days, weeks, months, or even years.
Here are some day-to-day problem ideas to get you started:
- Decrease in childhood obesity
- Enhance the comfort of older people’s homes
- Cut back on food waste in Nigeria
- Boost young adults’ financial investment
- Consider the entertainment of the future.
- Discover the latest in fashion
- Imagine the educational system of the future.
- Disrupt the medical community
- Disrupt the travel and tourism industry
- Shake up the insurance sector
- IoT can revolutionise an industry.
- 3D printing can revolutionise an industry.
- Check out the renewable energy sector
- Check out businesses around remote work and the future of remote works.
What you Need to Know About the day-to-day problems of life on which a startup can be started
Nine times out of ten, after a painful issue has been located, a solution won’t be clear or simple. creative solutions are frequently required for issues to make a company effective and long-lasting.
Although this may initially seem challenging (because it is), it frequently raises entrance barriers for rivals as well.
So how do you guarantee that your startup addresses a challenging issue? What if you only identified the largest issues facing the world and then examined those issues from the perspective of either next-generation technology or business model disruption?
The marketplaces (people) and industries (businesses) mentioned above are all very sizable. A startup that relatively solves problems could nonetheless be worth $50 to $100 million.
Unfortunately, identifying a difficult issue and coming up with a clever solution is insufficient.
Once a problem has been discovered and a solution has been developed, the business owner must determine whether or not the target market will pay for the solution. Therefore, you must test it. You still lack a business if customers won’t pay for the solution.
Read- How Startups Should Measure Labour And Growth
4 Businesses that have Grown Quickly by Tackling Significant Issues
The four businesses that have grown quickly by tackling significant issues are:
- Gigya
- When I Work
- FirstJob
- Fastly
1. Gigya
Problem: “Big data” offers a wealth of information about the patrons of large corporations, but it has proven challenging to sift through the noise to uncover the genuinely important numbers.
Solution: The data management business Gigya, founded in Israel, develops tools to assist large corporations in determining who their consumers are and how to interact with them online. With customers like Walmart, Adidas, Pepsi, Tommy Hilfiger, and others, it should come as no surprise that the business may soon be worth more than $1 billion.
Read – What Startups Should Know About Mergers and Acquisitions.
2. When I Work
Problem: The majority of business owners who manage hourly staff continue to create work schedules using Excel or, worse yet, paper and pencil. It’s an ineffective approach to interacting with staff and organising meetings.
Solution: A time-saving employee scheduling and attendance app called When I Work is available for business owners.
To increase team productivity, accountability, and preparedness, it employs a cutting-edge combination of collaborative communication tools, including the web, mobile apps, text messaging, social media, and email.
The programme allows managers to create the schedule from any location, allowing employees to quickly request time off or swap shifts from their smartphones.
Read- What is an Emergency Funds
3. First Job
Problem: Because job boards have been around for so long, each job posting and applicant are identical. The dull text-only information and CV give no real indication of who someone is.
Solution: FirstJob enables job seekers to create eye-catching candidate profiles with images and lots of colours.
Jobs posted to the board are primarily targeted toward millennial prospects and give details about the companies doing the recruiting, such as culture, perks, and office layouts.
With more than 1.3 million users, FirstJob is stylishly overturning the notion of what a job board should be.
4. Fastly
Problem: When news breaks and websites need to update their content, outdated versions of the story are still available online. Confusion results and businesses come off as unprofessional.
Solution: Use Fastly to swiftly clear caches, publish new material quickly, and remove outdated data.
The startup already counts Pinterest, Twitter, Shazam, and The Guardian among its many well-known high-profile clients.
Speed at which these updates are provided is the main differentiation that Fastly has to offer. The company’s ground-breaking technology has so far attracted over $50 million in venture funding.
3 Problems to be Aware of Before Building a Startup Business
Every major tech business you are familiar with today began with a significant issue that affected a certain market sector. They were able to scale to other products and new consumer segments by solving that first challenge for that particular customer segment.
So, start with a problem if you want to build an exceptional startup business. You must be aware of three things to accomplish that.
- The four main population groups in the world—Generation Z, Millennials, Generation X, and Baby Boomers— need to be well-versed in key statistics and trends.
- Next, you need to comprehend what is happening with emerging or next-generation technology.
- Finally, you need to comprehend what is happening in the major industries you are interested in.
Common Fallacies Regarding How to Begin a Startups
In answering the question on what are the day-to-day problems of life on which startup can be started, you need to know that starting a firm doesn’t always require a boardroom, solid data, and a sizable budget. In actuality, some of the best ideas are inspired by routine duties.
Inspiration can strike at any time, whether it’s during a commute, in the waiting room of the doctor’s office, or the checkout line.
The ability to see a problem and the commitment to take action to address it are all that is necessary to make a change.
This article debunks several common fallacies regarding startups.
- Businesses need not begin with a problem.
- Entrepreneurs don’t have to narrow their first customer focus to just one group.
- Entrepreneurs may, right from the outset, provide a variety of use cases that address a variety of issues for a variety of clientele.
In almost every instance, each of those three claims is wrong.
Conclusion
Hedging your startup chances by researching large sectors or challenges concerning people and trends may help you identify a problem that needs solving.
If you have anything to contribute to the topic on ”What are the day-to-day problems of Life on which startups can be started. Read on to know more”, can do so in the comment section.
