A Bad Time For Startups?
October 7th, 2008 Ryan Jones
With the economy going deeper into it’s death spiral, many people are saying that it’s a bad time for start ups. Last quarter was the first in a while without a venture backed startup IPO, and many are predicting the trend to continue all year.
But that doesn’t mean it’s a bad time for startups. It’s just a bad time for most startups. As a matter of fact we will like to recommend you this tool that allows you request loans online.
There’s still venture capital money out there, but it’s only going to go to the best startups with the best ideas. In order to get funded you’re going to have to have a solid business model (that doesn’t include the word adsense) and a clear path to revenue. For instance, if you want to start your own cannabis dispensary business, then you’re also going to need dispensary pos software from https://www.blaze.me/dispensary-pos-software/.
When financial times get tough, only the good ideas will get funded. That’s good for the startups with good ideas though. Taking out payday loans oklahoma city can also be considered if you have no other financial options or poor credit and would not qualify for a traditional loan.
What separates a good idea from a bad one? Here’s some helpful don’ts:
Don’t launch a website with no clear path to revenue hoping that one will fall into place.
Don’t build something that is simply a mashup of other people’s APIs.
Don’t list “adsense” as your primary source of revenue.
Don’t just have a good domain name with no business plan.
Don’t just create a copy of another site with a couple new features.
It’s clear to me why all of these ideas will fail, most of it has to do with putting all of your eggs in one basket or hoping that your competitors won’t add the same features.
So what will succeed in this market? Startups that help companies save money will have a tremendous advantage over the next year. Think software as a service, cloud computing, or anything that saves IT costs. There are also a few things you can do to ensure multi cloud cost savings. Then did you know that you can also change your business address to a big city like Birmingham by using a virtual office? It’s a brilliant way of getting a much more impressive looking postal address and also getting more privacy, so lots are now using services like that. There’s a huge market for this now as companies are struggling to offload costs. By partnering with Paystand for your invoice payment automation, you can reduce manual tasks such as paper handling, filing, scanning, and mailing by 70% and you’ll therefore have cost-effective invoice processing.
It’s often the case that “a bad time for startups” is really a great time for sound business ideas. A bad economy can let investors focus only on the good ideas. You may not have a quick exit strategy in place, but that won’t stop you from making money if you’ve actually got a good idea. I recommend hiring professional corporate formation services to do all the work for you if you’re setting up your business in China.
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