Four Ideas To Consider In Developing Your Start up Concepts

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.

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