Need a parking space booked for your car? There’s probably an on demand app for that!
From booking a babysitter to get food delivered at your doorstep, on demand services now provide solutions for the most basic problems to more advanced ones.
Probably, by observing such newly-born on demand companies, few startup ideas might have stuck in your mind as well. But, the fact is, having on demand startup ideas won’t turn you into a millionaire.
And, even if you’re willing to work 18 hours a day, your on demand company is more likely to fail.
Well, for the starters, just by working for long hours won’t turn startup ideas into successful companies. It doesn’t work that way.
For any Entrepreneur to be successful, it’s important to work smartly, make right business decisions, and scale up when required. In fact, this article will address steps to take for any entrepreneur to turn their ideas into an on demand startup.
#1 The Pain Point of Market
Groceries to cook meal? Taxi for transportation? Beauty professional for better appearance? The list can go on, but the point is, you don’t need a groundbreaking different product to establish a company. In fact, most on demand companies don’t have unique products.
The secret to win on demand market is to offer a better way to do something that people need to do anyway.
This approach is smart and quick. There’ll be no need to create a new market because people today just want to be efficient in their daily basic tasks to focus on the things that matter in their lives.
Does your idea solve such problems?
If so, ask yourself, is it more efficient than current solution?
This is your first step. Validate your idea first. Modify it, if needed. Because, people will only care about your product if it’s making their lives easier.
#2 Find – Which Markets Have Been Motionless For Years?
On demand companies are successful because they target the market that haven’t seen innovation for years. Take babysitting and parking for example.
Parents had to be careful while selecting a babysitter but now, Sittercity is the one-step solution for this.
Similarly for parking, people now don’t have to worry while finding a good parking spot, Luxe sends a personal valet and parks your car safely.
They made this interesting video on how it works.
In fact, they are solving the real problems. Their reviews say it all. Check out this Tweet by David.
All these on demand companies are inspired from Uber, and they have successfully developed Uber like app to win their respective on demand markets.
Therefore, you as well don’t need to look for great ideas for starting your own company, because it’s also possible to establish a successful startup with such simple but smart ideas.
And generally, these markets haven’t seen the technological evolution for a long. And, if you can provide even a bit of an improvement with your solution, you can revolutionize and win the market.
#3 Can You Employ Digital Marketing Strategies To Your Benefits?
As the technology evolves, people are now moving towards digital life everyday. And this is why, your digital marketing strategy must include in-depth customer insights.
Generally, on demand companies that are just starting out prefer to offer generous discounts and different promotions to encourage people for trying their product. They run such campaigns because they want to identify whether their product is performing as expected or not.
Once, the product obtains sufficient customer insights, they take the digital marketing to the next level. Here comes the referral programs. It is where people share the service with their beloved ones to win rewards out of your app, and those people share further. And this is how, most on demand companies take benefit from the digital marketing.
The purpose of any on demand service is to make the customers’ lives easier. And, if you can offer an efficient problem for such basic problems, it is highly possible to achieve success in on demand market.