As a start-up, being able to move quickly is one of your major advantages. If you have a fantastic idea, don’t sit on it waiting for someone else to act.
Instead, look at the industries where you can quickly go from the idea stage to fully-fledged business. If you’re looking for some inspiration, here are the fields where a successful start-up can gain a foothold in no time.
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Retail
Although the retail industry has been around for decades, it has proven itself to be surprisingly receptive to new ideas and innovation. If you’ve got a great idea for a product range, for example, you no longer need to have large financial resources to purchase a physical retail space.
Today, there are a number of online marketplaces that allow you to begin your retail start-up from the comfort of your own home. What’s more, social media enables word of mouth to spread quickly and travel all over the world, so you can rapidly grow your customer base.
Restaurant
The restaurant business is another that is proving receptive to innovation. If you have a new idea that is related to cuisine itself, like a revolutionary new menu, then you could start with street food stalls or pop-up shops to help get your name out there. Alternatively, if you’re idea is more about facilitating and aiding restaurants then you are also in luck.
Technological partnerships are being embraced by the food industry and provide a great opportunity for digital start-ups. Restaurant Online Ordering is growing massively as food outlets embrace new developments and software that helps staff to organise bookings is also being adopted.
Education
Technology is democratising education, meaning that it is no longer reserved for centuries-old institutions. Start-ups are being created all the time in the education sector, because all you need is knowledge to share and an online connection to share it over.
New companies are beginning to offer all kinds of services that allow students to receive a more flexible and personal education. These include online forums that allow pupils to talk directly with teachers, e-textbook marketplaces and less conventional offerings that combine learning with a 12-month gap year experience.
App development
More than 1,000 apps are being submitted to Apple’s App Store alone each day, some of which will be created by huge companies and others that will be developed by start-ups and sole traders. If you have programming skills, then founding your own app development start-up is well within your reach. The only limit is your own creativity.
Arts and crafts
Although start-ups are often thought of as digital businesses, largely due to the high-profile nature of tech hubs like Silicon Valley, this does not necessarily have to be the case. If you have a passion for working with your hands, then you can start your business with limited resources. There are a broad range of online outlets that will sell produces from sole traders, so there’s nothing to stop you turning your passion into a full-time career.