Idea factory

2022-06-09 20:32:00 #WeeklyContest #StartupHunters #Expertise

Here is another feedback on this week ideas

Today we’ll give an insight into Socio by Ritwik Dimri @Ritwikop104.

What is the idea about?

‘Socio’ is described as a metaverse of social media. We should mention that it would be better if you provide a broader explanation of the idea, so that we have a more detailed picture.

Pitch quality

In the video we can see Ritwik himself. However, due to his movements, it is a bit difficult to focus on the information provided. It shows that the startupper is nervous, which is a common thing, while pitching.

We would advise Ritwik and other startuppers to practice speaking in front of the camera, so you can cope with the stress.

The idea was almost clear but we haven’t received the following information: who the target audience is, how this idea would generate profit and what tools you will use to implement it.

Competitiveness

Metaverse is a trend nowadays, so a great deal of companies start restructurizing their products to meta and conquering this industry. Despite the strong players, like META (Facebook) and Microsoft, there are a lot of startups, which try to catch the attention of investors.

Socio is considered to be one of them, however it lacks some unique features, which would differentiate it from other startups. Probably, you should rethink the idea to have an advantage on the market.

Advantages

The industry, where Ritwik is planning to develop his startup, is highly popular. It may bring him additional ‘boost’ to find cofounders, team and tools to implement this idea.

Disadvantages

Implementation. Unfortunately, we have not heard how Ritwik will implement this idea and if it is possible. If Ritwik explains his strategy, we might change our perspective. But meanwhile we do not have enough information, which may show the potential of this idea.

Revenue model. The startupper did not mention the ways he would generate profit. If it has not been done yet, you should definitely think about the model.

Pitching and Information. We would like to point out that pitching is highly important to attract viewers and make them believe in your idea. Try to practice more to provide all necessary information confidently.

Market Potential:

Since there was not enough information about this startup, we cannot state how promising this idea is. Theoretically, Socio may become a breakthrough as one of first social media, based upon MetaVerse. But currently we find it as common as other startups in this industry.

Nevertheless, we wish Ritwik good luck and motivation to keep working on his idea! Hope our critique helps your project become another star Open / Comment

2022-06-09 17:49:06 #BusinessEducation

How to Cope With Job Burnout?

Feeling emotionally drained? Can’t deal with daily tasks? Don’t see any motivation to keep going?

Probably, you have emotional burnout. This is a syndrome which results from overwork and lack of self-care. And entrepreneurs are exposed to this problem like no one else.

How to prevent burnout? What are its causes? How to overcome this syndrome?

Learn https://telegra.ph/How-to-Cope-With-Job-Burnout-06-09 Open / Comment

2022-06-08 21:06:38 #StartupHunters #WeeklyContest #Expertise

The second review of this week startups

Today our financial analyst Nikita is going to delve into the idea of an Energizer by Hemang @donouknow

Briefly about the idea

The author suggests creating a device that will turn off all electrical appliances in the absence of a person in the house / apartment.

Overall impression

The idea from Hemang is very interesting, as the gadget will solve the problem of saving electricity, and also help avoid domestic disasters.

However, like any idea, smart gadgets have their limitations.

Possible difficulties of the idea

1. Uniqueness. At the moment, smart homes have gadgets that can be turned off or on using a tablet/smartphone.

They also know how to save electricity by adjusting the mains voltage and choosing the optimal value for electricity consumption.

Therefore, the author will need to think through the functionality in order to be better and "smarter" than modern competitors.

2. Features of the work. It is not always good for apartment/house owners to turn off some electrical appliances while they are not at home.

For example, various slow cookers and other kitchen appliances are very convenient if they do everything for the owner during their absence from home.There may also be pets in the house or apartment that will mislead the sensors.

The authors should think over and simulate each situation in detail so that the devices are as convenient and useful as possible.


3. Monetization. The issue of sales of intelligent sensors is a conceptual task.

Will the sensor be sold in partnership with other smart home components or will it be part of an independent system? Will the device be provided for free, but use a subscription system? How expensive will it cost to manufacture and promote the device?

All these issues should promote the authors of intelligent sensors in the direction of marketing and monetization.

Positive aspects

1. Innovation. Intelligent systems allow people to save time and effort, and also make their lives safe.

Therefore, such systems will be in great demand, and an affordable price will allow you to quickly distribute devices around the world.

2. Focus on the paying customer. Modern realities show that mostly wealthy people can pay for "convenient" solutions.

Therefore, the primary demand, if properly presented, can be provided by the middle class and wealthy people. This will allow the project to develop and improve its own product without attracting additional funds.

3. Participation in the environmental agenda. Saving electricity and reducing the number of domestic disasters will directly affect the ecology of entire regions and, ultimately, the whole world.

Therefore, Hemang and his idea will become an important part of the environmental agenda and the fight against the irrational use of renewable natural resources.

4. Scalability. The development of devices that save electricity will allow the authors to create their own galaxy of smart devices and scale their engineering ideas.

Conclusion
The idea seems extremely interesting, but its implementation is connected with the refinement and formation of a mechanism for working, as well as with the definition of a marketing company.

We wish Hemang great success on his venture path! Open / Comment

2022-06-08 15:41:24 ​#OurProjects

Want to get your startup funded?

Go Venture Now is the key to sustainable investments!

This is an interactive platform for venture investors from all over the world. They’re focused on cutting-edge ideas and ready to invest their money in them.

Go venture’s members are looking for early projects with promising products to financially support them and get return.

Whether you’ve already created an MVP or just started your venture journey, you can take a chance in fundraising and receive money for development!

How to increase your chances of investments?

Apply for our weekly competition @StartupPitchBot;

Invite your friends to our channel;

Comment on the ideas and articles we post.

In this case, you’re likely to be in the list of the first candidates to consider! We will connect your with a potential investor at an early date

If you want to support this week contestants, go to @IF_vote_bot and choose the idea you like. On top of that, you’ll gain points that can be further converted into valuable prizes!

Take a chance to raise funds and make your ideas happen http://Instagram.com/goventure.now Open / Comment

2022-06-08 09:08:41 Idea Factory pinned «#Voting #WeeklyContest Take a chance to change the voting course To make things more exciting, we decided to post one more voting in our chat. These votes will be added to the overall results in @IF_vote_bot. To increase your chances of the victory,…» Open / Comment

2022-06-07 20:08:41 The first review of this week ideas

We’ll start our analysis with the idea WaveX by Akinpelu Victor @Skillpayy.

What is the idea about?

WaveX is a gaming system that can vitalize your own character. This system allows young creators to build their own avatar, locations with the help of coding, pictures, or even a scan of their actions.

Pitch quality

We should notice an excellent sound, since during the whole pitch we hear the voice without a hitch. That helps us better focus on the information provided. The ideas concept was presented on the high level without extra words so the idea is easy to get.

Nevertheless, you should try to gather more information in your pitch, relating to revenue streams and market you are focusing on.

Despite this, there must be an accurate pronunciation, so try to bring information slower and yet cover all the points in about 1 minute. Overall, you have successfully explained what your idea is and who will definitely use it in the future.

Competitiveness

There are plenty of games, which are focused on creating your own heroes, providing you sandboxes for this. However, Victor mentioned the use of codes and scan, which differentiate this idea from most others.

Probably, Victor should pay attention to apps which create avatars and games, which create heroes for the game. Based upon this research, it would be much easier to elaborate unique features and find your strong point on the market.

Advantages

WaveX would be chosen by both gamers, designers, and artists. This system may become widespread in various spheres, like gaming, fashion, design, etc.

The idea shows common ways of generating revenue and leaves many options to add new models for gaining finances.

In addition, the startup is good enough for children to develop their creativity, so the social impact is quite high.

Disadvantages

Technical issues. If we understand the idea correctly, Victor would like to provide codes so consumers use codes to develop their avatars and other objects in WaveX.

If so, it might be difficult for the audience to use coding, which may probably decrease the interest in the idea. There must be some guides for users to make the process as easier as possible.

Market Potential

Since we consider the idea one of a few on this market, we find it promising, but difficult to implement. However, Victor should be fast and accurate in the development of WaveX in order to become one of the major players.

If you are highly acknowledged in this industry and manage to gather a good team - you have all chances to make it.

We wish you to keep your passion during this challenging journey! Open / Comment

2022-06-07 17:32:17 #Voting #WeeklyContest

Take a chance to change the voting course

To make things more exciting, we decided to post one more voting in our chat. These votes will be added to the overall results in @IF_vote_bot.

To increase your chances of the victory, invite your friends so they support your idea.

Make sure you’ve subscribed to both our chat and channel, otherwise the vote will be invalid.

Best of luck! Open / Comment

2022-06-06 18:13:58 #Trends #Retail

Complete Retail Guide for Beginners: How to Set Up a Store?

In the previous articles, we delved into retail basics, its trendy technologies, and enterprise cases.

Now it’s high time for practice! We’ll walk you through the retail development step-by-step. In addition, we’ll share must-have qualities for retailers and common mistakes to avoid.

Learn https://telegra.ph/Complete-Retail-Guide-for-Beginners-How-to-Set-Up-a-Store-06-06 Open / Comment

2022-06-05 19:08:31 ​#Films

Top Series about Business & Motivation

Mad Men (2010)

The actions are centered around a prestigious advertisement agency. Donald Draper is incredibly gifted both in dealing with customers and women. And the skill to sell anything he wants brings Draper a lot of money.

However, he is not the only character who can successfully manage sales, play on customers’ emotions, and persuade. Draper’s friends and colleagues demonstrate great talents in business undertaking.

The series shows the importance of building proper relationships with a customer and teaches the arts of emotional manipulation for achieving business goals.

Empire (2015)

Lucious Lyon is in the prime of his career managing his own empire. But an incurable disease makes Lyon think of a successor as he has only 3 year to live. To win the rights for musical hip-hop corporation, even the closest relatives start to fight.

The work teaches you to leave a meaningful legacy and remain at the height of success.

"You should sing like you’ll day tomorrow. Like this is the last song in your life. Put all your soul in it."

Trust (2018)

The series is based on real events and tells you about how hard it is to keep the fortune. Particularly, when your relatives try to get your money and success by all means.

A gangster kidnaps John Paul Getty III, the grandson of an oil tycoon, holding him for a huge ransom. Refusing the blackmail, the plot twists in an unexpected way.

We recommend watching this series if you want to learn to act and plan strategically, as well as overcome challenges and save your business.

Mr Selfridge (2013)

The series walks us through a story of a normal American businessman who decided to change something in retail. Being dissatisfied with the stores services and quality, Harry Selfridge sets up his own shopping mall in England.

This is a brilliant guide on sales — learn how to attract customers and make them come back. Selfridge tells you about marketing fundamentals you need to do business.

Billions (2016)

This is a great series about finances. Bobby 'Axe' Axelrod is a billionaire and successful businessman who made his fortune during a crisis. But everything is not so simple.

Chuck Rhoades is a ruthless attorney who finds out about Bobby’s shadow activity and decides to conduct his own investigation.

The series teaches you to build relationships with everyone, including your enemies, and get out of problems together when needed.

Which series have you watched or would like to? Comment below Open / Comment