A study conducted by Adobe Digital Insights, indicate that
the impact of automation and robotics are among the top-ranked consensus when
it comes to workplace innovation. Contrary to popular belief that automation
may take away work from them, rather they believe that robots would make their
roles and tasks easier.
A survey of mid to top level executives believes AI could be the immediate future,
where it is expected based on surveys that it could alleviate menial or
repetitive tasks such as documentation paperwork, general scheduling, and employee payroll or timesheets. These are currently recommended by IT consulting firms who can provide a
wide variety of IT maintenance services
and support solutions for your start-up venture.
Another survey of 2,500 US consumers and business leaders
indicate that no less than 30% of traditional work and responsibilities can be
addressed by AI-driven IT solutions, which can broaden your horizon in terms of
determining your approach to your desired markets.
What’s making noise
and catching people’s attention
When you are just starting out and do not know how and where
to start, you better put on your thinking caps first. Doing your research on
currently trending opportunities is your best bet at honing in on your targeted
market.
What do you have in mind? Will your target market be suited
to your prospects? What do you have to offer? These are just a couple of the
many questions that could arise when looking for your target market.
Create your short
list and gather intelligence
One good way to start is to look for current trends in the
market. What are those that are trending online or offline? Will you be able to
handle it? Would your skill sets be suited to your planned venture? It pays to
be informed so gather as much business and market intelligence as you can so
you can start planning ahead.
Picking out your
niche
Once you have created your list, try to match it with the
resources you have available and what you plan to dispense to get your start up
going.
Analyzing your prospects can be very helpful to help you
make your choice. One of the best tools that you can use is the SWOT analysis,
where you define the four basic quadrants for Strengths, Weaknesses,
Opportunities, and Targets.
Once you have broken it down, you get to see a good picture
of all your possible options and how you can start approaching your start-up
path.
How much are you
willing to spend on capitalization
This is one major consideration you need to address. How
much capital are you willing to spend? Remember that this is the point where
you need to be careful with how you breakdown cashflow, overhead costs and
such.
Take note to list all your possible spending for start-up
and match it with you potential capitalization to see how your capitalization
would look like.