Tech start-ups that have become huge successes
Although there is no magic formula for turning your bright idea into an insanely successful start-up there are a few things you can do to give yourself a greater chance. It is not only the best ideas that succeed – it is all the extra hard work that is done in launching a start-up that can ultimately decide whether it will rise or fall.
When start-ups take off there is no limit to how successful they can be but these success stories do not happen by chance. Ride sharing app Lyft didn’t come up with something completely new but they did expand on a basic idea and ended up getting $500 million investment from General Motors to further develop their ideas. You just need to know what makes your start-up worth the risk.
Think global, act local
Another transport start-up that is doing great things is Gett. They make ordering cabs easier in a whole host of major cities around the world. Launched originally in Israel but now expanded to Europe and the US, Gett realized that although they wanted a global reach they had to focus on each market as an individual. This customization of their app to suit local needs has now attracted over one million users.
Making life easier
Sometimes a start-up’s idea is so simple it feels ridiculous that it has never been done before. Keith Krach launched DocuSign on the simple premise that contracts still need to be signed – even in the digital age. But why should people waste time and resources doing it the old fashioned way when it could be done far quicker – and more environmentally friendly – on devices? There is a lot to be said for simply making people’sday-to-day lives easier.
Adapt to suit
Foursquare is a very well known success story but they did not get to where they are by chance. Sometimes you don’t know which aspect of your idea will really take off. The fun, gaming side of their product turned individuals into ‘mayors’ of locations but if that was all Foursquare was people would have moved on. Adapting your idea to what people want and need is the key. Listening to their customers has worked for Foursquare who now offer city guides and services to enable brands to better use their location as well as the original location game.
Just because you might think you have a great idea doesn’t automatically mean that it is going to be a success. The main thing most successful start-ups will tell you is that it takes a lot of hard work and belief in your product. You need to have confidence in what you are doing.
And if you can find that extra little angle or niche and convince other people of your idea, there is no reason why your product can’t be the next start-up to get noticed and used by people all over the world.