While the year 2018 was all about major acquisitions and controversies, the year 2019 will be about discovering new fields and embracing different startups. From the beauty industry to virtual reality, here are the hottest areas for startups in the coming year!
1. Personalized nutrition
Diet conscious individuals the world over are slowly realising there is no one diet which can help you lose weight. With over 15 million people around the world going through genetic testing to see what diet suits them best, it comes as no surprise that the next hot industry in town is the nutrition industry! Knowing what your genetic blueprint looks like is a good way to avoid falling ill and incidentally, nutrition is also considered to be one of the major disease reducing fields. Companies like Arivale and Family Tree DNA started realising the benefits of a nutritious diet. The growth in this field is tremendous and the industry is expected to generate a revenue of $ 19.1 billion in 2021 as opposed to the $ 9.5 billion earned in 2018!
While drones were initially invented for security purposes, they have gotten a lot more slick and affordable since their launch, making them accessible to the general public as well. With the potential to be used in areas like agriculture, construction, firefighting and cinematography, drones are the next big thing in tech right now! From inspecting crops to delivering goods, drones can quite literally be used in any field! At the moment, DJI is one of the major manufacturers and they upped the game by partnering with the Rwanda Government in order to deliver blood and other supplies as needed by the people in rural villages!
3. Beauty Tech
The combination of the beauty industry and the tech industry is opening the doors to innovation of a new kind. This new merger is helping in influencing the kind of products people buy and the way they buy them as well! From creating ready for pictures make up, to providing highly customised products for consumers, the beauty tech industry is definitely booming! Seed Beauty, a Los Angeles based firm, has already produced products which took the world by a storm! Another beauty company called Glossier is also doing really well in this field!
4. Digital Payments
While Paytm set the ball rolling for digital payments, the field is picking up pace since the last year. From in app purchases, to mobile payments, to enabling online purchases, digital payments have simplified the process of online transactions. In fact, since the rise of cryptocurrencies, online transactions have become extremely simple and also opened the doors to a new form of payment!
5. Flipping websites
Flipping websites is a new trend which is growing with a steady and fast rate! A quick and easy way to make money, website flipping works in a way which lets you make money by selling domains or websites on existing websites. Almost an art which involves specific research, one can either auction the domain or sell the entire website on different platforms for a particular price. With websites like Flippa.com and FreeMarket.com on the rise, there is an increase in startups like these!
With startups branching toward different ideas, the year 2019 is going to be exciting to say the least! If you think we missed out on any other ideas like these, comment and let us know!
5 Books For Every Entrepreneur In 2020
It is easy to talk about entrepreneurs and look at them with envy for pursuing their passion but what no one knows is the amount of sweat, blood and tears which go into making an entrepreneurial dream come true. Entrepreneurs are expected to be highly competitive in the cutthroat market and at the same time continually strive to set an example for others to follow. The sad truth however is that not all entrepreneurs succeed in their mission because some may give up midway through their entrepreneurial journey, or some might run out of cash while some are just not able to scale up their business.
Many successful entrepreneurs have documented their journey and their thoughts in autobiographies or novels for aspiring entrepreneurs seeking inspiration. These books would manage to scale up your game, improve your business strategy, potential to connect with new people and most importantly would give you courage to persist on your journey.
Here are five books in 2020 which every entrepreneur should read
1) The Lean Startup by Eric Reiss
Published in 2011, this book is still relevant even in 2020 as Eric Reiss outlines a guide to help entrepreneurs to develop methods to manage their startups/businesses. Entrepreneurs can set their strategies according to their needs and runway cash to optimise their business opportunities. The Lean Startup offers entrepreneurs, in companies of all sizes, a way to test their vision continuously, to adapt and adjust before it is too late.
2) Zero To One: Notes On Startups Or How To Build The Future by Peter Thiel
Peter Thiel is the co founder of PayPal and an entrepreneur as well as a venture capitalist. Zero To One tries to teach entrepreneurs about how Peter Thiel thinks , his approach towards business and how one can shape the future of their startup. WhilePeter Thiel was teaching a class at Stanford University, a student named Blake Masters took notes which led to the book Zero To One released by both Thiel and Masters.
3) The Startup Owner’s Manual: The Step-By-Step Guide for Building a Great Company by Bob Dorf and Steve Blank
This book is touted to be the perfect guide for any entrepreneur to scale their business. This book has detailed step by step instructions on building successful, scalable, profitable startups. The Startup Owner’s Manual is so popular that it is taught in university courses at Stanford, Berkeley, Columbia and many other universities. The Startup Owner’s Manual follows the theory of customer development, agile, and lean engineering.
4) The Greatest Salesman In The World by Og Mandino
Although first published in 1968, this book is still a bestseller and widely read by entrepreneurs. The book aims to serve as a guide to philosophy of salesmanship, and success through the story of Hafid, a poor camel boy who achieves a life of abundance. The Greatest Salesman In The World is written in the form of ten scrolls.
5) Founders at Work: Stories of Startups’ Early Days by Jessica Livingston
This book is a collection of some really unique interviews done by Jessica Livingston with some of the greatest startup founders in Silicon Valley like Apple, PayPal, TiVo, Yahoo, and TripAdvisor. This book aims to offer wisdom and insights straight from the mouths of some of the most influential entrepreneurs.
Let us know if there are any other books which deserve to be read in 2020.
The Rise Of Gig Economy In India
India is notorious for churning out graduates from colleges at a very high rate and the education system in India is always under fire for not focusing on all round development but on marks and grades, instead. This is a growing concern as there are not enough jobs available to accommodate all the graduates passing out from college. However, the Indian millennial is a smart individual and when put under pressure, a millennial is capable of coming out of it better. So, what did the Indian millennial do when there were less opportunities and did not want to be part of the rat race? They turned to taking up gigs and that spawned an entire economy and industries to flourish.
Gig economy can be defined as a work engagement where on one side, there is a service seeker that is a consumer with a demand for a specific task, and on the other side, there is a service provider that is. a gig worker who can perform that specific task. The gig economy was able to flourish solely because of the advent of digital platforms which were able to connect a service seeker with a provider. More and more Indians are looking to escape from the monotony of a 9 to 5 desk job and instead take up freelance gigs which complement their skills.
In order to put the gig economy into simpler terms, here are some examples. An individual who likes to drive cars would consider working with Uber as a driver partner to earn some extra bucks. An individual who is good at playing the guitar would consider performing in live shows with a band to earn extra money. A person who is good at painting would consider selling their art for extra money. The gig ecosystem offers the millennial an outlet to escape monotony and pursue their passion instead.
The gig economy could only thrive when there are digital platforms which are able to connect the supply with the demand. The digital gig economy generated a gross volume of approximately $ 204 billion from worldwide customers in 2018. India has emerged as the 5th largest country for flexible staffing after the United States of America, China, Brazil and Japan. Haryana, Madhya Pradesh, Andhra Pradesh, Gujarat and Telangana have the most opportunities in terms of growth for the flexible workers.
Gig economy allows task ownership, convenience and flexibility. Based on tastes and preferences, an individual can determine the number and type of projects they can work on, the quantum of their earnings, and thus, their work-life balance. For example, an individual who took on five gigs in one month could take only three gigs the next month to balance life at their regular job.
The gig economy has a disruptive model to connect sellers and buyers for almost all kinds of skills and services. While the size of the gig economy may seem marginal when compared to the traditional economy, it is recognized for its enormous potential with the desire of workers, specially millennials to have a flexible work schedule and the rise in the on demand consumer services. Of In India, almost 70% corporates have already used gig workers for at least one task in 2018.
In India, a platform called Lemonop, is setting an example in the gig economy by providing a platform for students and working professionals to look for gigs of their liking. There are plenty of other platforms like Lemonop which are slowly bridging the gap between talent and job demand.
Mukesh Ambani Enters Top Ten Billionaires List
Mukesh Ambani is the head of India’s biggest Petrochemical and Telecommunications giant Reliance Industries Limited. Mukesh Ambani also achieved a new milestone in his splendid career as he broke out into the World’s Top Ten Richest Billionaires list for the first time in his career.
Mukesh Ambani entered the high profile and exclusive club of billionaires as his net worth jumped to $ 64.5 billion which catapulted him to the exclusive list of the richest billionaires in the world. Mukesh Ambani is now the ninth richest billionaire in the world as he beats Google co founder Larry Page. Mukesh Ambani also holds the distinction of the only Asian tycoon in the exclusive list of World’s Top Ten Billionaires.
Mukesh Ambani is riding on the back of a series of investments into the company’s digital unit, Jio Platforms Ltd., which Reliance claimed made the company net debt free and also proved the COVID-19 pandemic has not affected the fortunes of Reliance Industries.
While a crash in oil prices caused uncertainty in a stake sale of Reliance’s oil and chemicals division, in just two months Jio managed to attract some $ 15 billion which is more than half the investment into telecom companies worldwide this year. A report by popular equity and brokerage firm Sanford C. Bernstein predicted Jio is likely to capture 48% of India’s mobile subscriber market share by 2025.
Mukesh Ambani has an unmatched drive to become the biggest and the best industry leader in India as well as the world. In India, Reliance officially became the biggest petrochemical company last year, when it surpassed government owned Indian Oil Corporation to become the country’s largest company by revenue. Mukesh Ambani said “No power on Earth can stop India from rising higher (sic.)” during Reliance Industries latest Annual General Meeting (AGM.)
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