Internet Startups - Opportunities, Challenges, and Scale
Posted: Sep 09, 2019
Internet Startups - Opportunities, Challenges, and Scale
This is the age of technology is at its peak here and internet startups are probably the best way to earn money online. Moreover, the startup environment has matured over the years, and being an entrepreneur you can grab several opportunities. But, one part about online startups is that you need to be extremely careful about a few factors which we are about to discuss in the latter part of this article.
Technology mixed with a unique startup idea can bring you great success. Although, you need to be careful about the opportunities, challenges, and scale for any startup. This would define its success or failure among its competitors.
What are the Factors to Keep in Mind for an Internet Startup?
If done properly then the below-mentioned factors can get you all the success you need to acquire from the web. Important factors while making the right choice for your business to rise on the internet are-
- Do your competitive research
- Accumulate a target audience
- Check the market condition for your product or service
- Solutions to challenges that you might face
- Online Platform/Platforms to promote your business
Your Business could be the next ‘Big Hit Online’ if you put your dedication into setting things right in the first place.
How Can an Internet Startup run at the same pace as Online Trends?
Did you know that you do not require much knowledge to run an online business? However, you do require skills, a good way to meet the online needs and match the new internet trends. A vibrant website and good content are the first things that will bring a customer to your site. The choice of the customer, however, may depend on varying factors.
Moving ahead, there is still a huge population of people who believe that Online business lack longevity.
Theoretically speaking, it is believed that the popularity of the internet is such a boon that it is never-ending. So, it is logical enough to put your mind in building a business online. And, for inspiration, you can look at companies who shone through their ideas of online business and marketing
TOP 5 SUCCESSFUL ONLINE BUSINESSES TO DRAW INSPIRATION
It's been quite some time since the internet hit us with its goodness and advantages. And, of course, if you have a startup idea or a cool app idea then looking back at some of the top online business today can give you the required boost.
Let’s take a glance at the list of online businesses that tops our list-
A business founded in the year 2007 has found its right place today. Taboola has managed a god revenue run rate of approximately $250 million, crazy, right?
But, the most impressive part is that Taboola only has 120 employees and still works for high-profile clients such as-
- Boston Globe
- USA Today
If you have an idea for content marketing platform, themTaboola is the place to check out for additional inspiration.
Established in the year 2006, the online company allows content owners and publishers to publish their content, manage and even monetize. Today this company has raised over 25 million dollars, and even teaches online entrepreneurs to handle niches and master them for a successful future.
Have the same idea? Go Kaltura!
This online image sharing and a popular hosting community have proven to be one of the best at its work today. Now even Alan Schaaf( The Founder of Imgur) wouldn’t have been sure that his idea would be such a hit at that time. Although we do not know which factor raised such success for Schaaf. But, if you are too into such an idea then go and see what may have worked for Imgur.
So, who knows, your idea may be a hit too?
Have you ever thought that how Voxy happens to stand out so well among thousands of other language learning apps? Well, uniqueness has its touch towards reaching success. With this theory in mind, Voxy has created small practical lessons which are highly implemented in real lives.
And, you will be surprised to know that Voxy has earned more than USD 15 million by just funding.
Heard of Kim Kardashian? Well, what an obvious question? Of Course, you have. So, shoedazzle comes from the partnership of Brian S. Lee, M.J Eng, Robert Shapiro, and the diva Kim Kardashian.
This online styling platform helps women discover their styles by choosing from a wide variety of shoes, apparels, and accessories. One thing to learn from Shoe dazzle is that despite their ups and downs hey never gave up on their goal to reach success. Today, this e-commerce platform is reaching heights at its best.
What are the Perks of Running an Online Business?
Some of the many benefits of running a business online are mentioned below here-
- You receive great flexibility hence enabling improved client services
- No paper wastage ( Counts as a point to the environment)
- Save a huge amount of bucks
- You have complete global access which allows to you stay active on your business 24/7 and 365 days.
- Operate your business from anywhere across the world
- Get products and services delivered faster
- Learn more with newer online trends and increase your professionalism.
Businesses online allow you what no other platform does. Anyways, let's learn more about creating a business online
Future Opportunities for an Online Business
In the online field, businesses are constantly changing based on online tools available and constantly evolving online trends.
Before you start, it would be great to look at its future opportunities.
- If you follow your Passion you are certain to succeed.
- Uncover your opportunities with the help of keywords
- Go ahead and build a captivating brand
- Fill loopholes for any opportunity gap.
- Follow trends faster
- Make use of your experience and expertise.
- Solve any customer problem at the earliest
- Take customer feedback seriously.
These are the things that will certainly help you move forward in your internet startup.
What are the top challenges in an online business? Ways to fight them back
No matter how viable the internet is, you will still face issues and challenges that may create hurdle in the journey of your online business success.
Here is a list of challenges that often internet startups face in the initial ground. If you overcome them, then you are good to go in the longer run.
1. Difficulty in Finding Skill Sets
Founders don't need to know about the latest trends in technology, understand tools or the technology related to it. The founders of internet startups do need skill sets that will help raise the business to a whole new level. People who have experience and out of the box thinking capability can create a name with big startups businesses.
2. The mindset for the Product or Services
Most often customers are least bothered about the technology that you use. They are more focused on seeing the product or service and its benefits for them. So, choosing your target audience appropriately can help Also, pay special attention to their needs and feedback.
3. Continuous Learning
Every once in a few months you see something new popping out over the web. So, it is good to stay prepared for such times when a new OS upgrade, development framework or SMAC update hits you.
4. Preferred Channel
Have you thought about which channel would you choose to promote your product? If not then this is the research, research and see which choice of the channel can bring you the best results.
5. Security and Privacy Maintenance
Internet startups cannot possibly think of risking what the built, over bad cyber instances. You really need to secure your data, devices, only workplaces and also your customer’s valuable information.
Scale for Internet Startups
Honestly, scaling up a newly created internet startup is not all rainbows and candies.
Here are some of the questions that you need to ask yourself before going for a scale-up.
- Do you currently have positive cash flow?
- Is there a future demand for your product?
- Do you have a skilled team?
- Are you using a trustworthy technology?
- Do you see your startup successful in clear vision?
If the answer to all the above-mentioned questions is yes. Then, go for scaling. Also, do not simply jump into scaling without knowing future possibilities.
The conclusion to Internet Startups
If you have a great idea in mind for an internet startup then go ahead and executive it. However, be aware of its drawbacks. You need to have the ability to fight the challenges off and go for scaling. And, do not forget to keep up with the ever-changing trends of the internet. Learn more, Be More. Let you internet startup be a success. Create a vision and utilize the power of technology at its best.
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