Future of Start-ups.
You might've browsed Instagram recently, liked a few posts of Tesla Cyber truck? Maybe on twitter, you retweeted Bill gates' thoughts? and Obviously did a few google searches as well. Isn't it great how these certain people brought us their innovative ideas to us and changed our lifestyle? Now you ever wondered how these ideas are made materialistic? It all begins with a Start-up.
A Start-up is a company formed by one or many entrepreneurs with the intention of raising their product/service into the market and establish a business. Every business might not be a Start-up, but those who are, have a great potential of growing because it is a collective effort of bright minds where each one has a unique skill set that favors the business.
Why people plan a Start-up?
First things first, why exactly does someone just think of starting a business? Well, there can be many possible reasons. The most common ones are :
1. To bring their innovative idea such that it fulfills a need, being more efficient than other existing preferences.
2. To use technology for solving problems faster and efficiently.
3. To acquire financial freedom
Most of the biggest companies today were once a Start-up, which operated in a Garage or a small apartment. It takes a lot of patience and a strong belief to initiate a Start-up. To explain in a much easier way, a start-up is: Finding a Problem and Selling a Solution.
Why most of people do not prefer Start-ups?
Why are there very few people who suggest/support the idea of a Start-up? Actually the thing is, your chances of succeeding are as less as 20% (maybe even lower than that) and this is what strikes fear into the hearts of people. Also, you need to focus all you've got into it. That means if you had a job. you most probably wanna quit. No money and a Success rate of less than 20% doesn't sound very great now, does it? Even if a Start-up succeeds, it takes time to make good money (depending on your idea).
Future of start-ups: What happens next?
Renowned by their risk factors, Start-ups were not something people would prefer. However, there is a significant rise to start-ups since a few years. Irrespective of their success or failure, many young minds are determined to start something on their own, along with a team. As there are now various sources available that provide the correct guidance. Those who are determined enough, benefit from such knowledge available on the internet and get started on their journey. In the upcoming years, there will be better solutions for every problem provided by a start-up business. Be it any sector, technology, finance, architecture, industries. Many young minds are working on their master plan even as I write this blog. Not only do start-ups benefit the owners, but also the country they are established in. American start-up businesses have helped boost the economy of their country. Also, many new employment opportunities open up for people. The future of start-up is bright enough to enlighten new opportunities, resulting in the collective evolution of the whole human race.