The Internet Start-Up Boom: What It Means For You
The world economy might be melting down; bankruptcies & corporate bailouts are becoming the norm, but for some people — YOU, maybe? — this could be a very good thing.
Here's why. At no other time in recent history has it been easier or cheaper to start a new kind of company; possibly a very profitable company. There are Web-based businesses that cost considerably less to get off the ground and yet can turn into great moneymakers. And launching now will make your company stronger later -- you'll learn to survive on fumes until the economy improves.
How do you get started?
All you need is a great idea; build a product that addresses a pain point or build a product that provides pleasure ... better still, build something that does both!
You need a good web development team to translate the idea into reality; either hire your own team of engineers or partner with an experienced web development company like DoubleSpring or WebChutney
Remember: design & engineering are important but not everything. A good business model & the right execution are the key ingredients for success.
There are many examples of businesses that have recently succeeded using new business models to disrupt existing players:
- Groupon: Group buying to drive significant discounts
- Zynga: Leveraging the Facebook platform as a way to acquire customers virally
- Gilt Groupe: Flash sales of overstock clothing
- Salesforce.com: SaaS CRM
- Angry Birds: Apple's App Store as a new low cost way of acquiring customers
- 99Designs: CrowdSourcing as a way to provide design services
Does an internet start-up founder have to be a software engineer? Does he/she need to learn programming?
No! You only need business acument to succeed.
Infact, some of the most successful internet companies in India have non-technical founders:
- Sanjeev Bikhchandani (Naukri.com) has an economics background
- Kunal Behl (SnapDeal.com) has a marketing background
- Deep Kalra (MakeMyTrip.com) has an economics background
Off-course you still need some great developers on your team who have a good understanding of internet technologies, platforms, frameworks & tools. Don't just hire a web designer recommended by your cousin, or the cheapest web design firm in your neighbourhood.
How big are opportunities in India?
With over 100 million internet users (and growing) India is emerging as a major market for internet companies in different verticals: eCommerce, Social Networking, B2B/B2C Marketplaces, Real Estate, SaaS and more.
Bangalore, Delhi & Mumbai have startups mushrooming all over the place and there are dozens of venture capital firms who have setup a base in India to fund these aspiring startups.
A relatively new company like FlipKart has been able to raise Rs. 900 Crores in funding from VC's (in August '11) and they are currently said to be worth a mind-boggling Rs. 5,000 Crores! Its the same story for dozens of other Indian Internet companies:
SnapDeal.com - Worth Rs. 1,000 Crores
InMobi.com - Worth Rs. 5,000 Crores
MakeMyTrip.com - Worth Rs. 5,500 Crores
We are witnessing a paradigm shift in the old power profile, as young minds take a new and leading role in the economy. So, what are you waiting for?
Stake Your Claim on the World Wide Web!