Through the years, we have seen how startups made their impact on various industries. They made it by focusing on the sharing economy, social media, and advanced technology. Focusing on these particular areas, we can safely say that startups are capable of shaping as well as bringing significant changes to various industries. With the technology that we have today and the coming years, we can expect more startups are blossoming into big companies.
From small and simple startup ideas, who would have thought that Twitter, Instagram, Airbnb, and or Uber would grow into technology giants? Just like you, the founder of these startups has never thought so, too! So, if you have that scalable startup idea, we all know that there are risks, but who knows it will also become big like the others?
Before you plan or even launch your startup, it would be better to familiarise yourself with the upcoming startup trends. Well, knowing the startup trends every year will also help you in your startup journey. Let’s check below which of the startup trends that will be shaping not just 2020 but for the years to come:
Simply known, with the shorten acronym of AI, artificial intelligence involves the usage of computer software to accomplish human tasks. Some companies are integrating AI to provide risk analysis important to businesses, and or some use it to produce marketing campaigns. While this technology has long been attractive to entrepreneurs, experts believed that its usage would also increase among startups. So, the implementation of AI will significantly empower upcoming startups. By the year 2030, the integration of machine learning and AI will be common.
It Is All About Hard Work
It is worth emphasising that while creating a startup may be the coolest thing to do, it should still be all about hard work. It is because clients or customers are starting to wise up with their choices. They are already looking into the quality and importance of the service or a particular product. Our world needs entrepreneurs who are works hard for the right kind of startup and are all doing it for the right reasons.
Every entrepreneur is important; they are the balance, the one in the middle between SMEs and big corporations. They play an essential role in driving the economy.
Going back to hard work, we can’t help notice that more executives are founding their startup. It could be just a change in careers, but being more experienced in this field, they already have an edge to get known and succeed.
Shifting Back To “Real”
We have witnessed how the digitisation of upcoming businesses in the past years. While we can expect for its continuation for the coming years, experts have predicted that a shift back to “real” products will be the next trend. When we say “real”, this will refer to a business type that will involve organic, more natural products. These businesses can be those that are producing tangible products such as in skin care, food, and others. As demand for this type of product increases, it will definitely kick back against the digital world.
Well, customers are looking for healthy options among various products. Thus, the ‘real-world’ product is becoming trendy. Let’s keep an eye on how “real” products change the business game in this digital world.
Investment Models Will Change
Blitzscaling is the term coined to describe the concept where it is the significant investments that are behind every successful startup. The idea here is if a company scales the fastest, it will stay on top compared to others. Well, that could be the case and had worked in the last decade, and every venture capital firm knows it. This is like if they have found the one that will be successful, it is worth their investment. However, there is always a high risk of losing. Well, in investment and business, risks are always part of it. But is there is always a way that will make it a profitable startup without relying on venture capital?
Well, there is – and an email marketing service, Mailchimp had done it. This startup is funded by annual revenue earned by its customer. While others just switch t venture capital when they have already established themselves in the industry, just like what Shutterstock had done. Let’s say that investors might already be looking for something more balanced in a startup before investing. They may be going straight into the startup’s positive bottom line much quicker than what they have been doing before. With this, we can expect more change in the coming years.
Ethical, Empathetic, Purposeful
Before, businesses where used to be created exclusively for earning profit only and were separated from those projects that have a social purpose. But not anymore – and it is because of startups. Startups’ culture had become more ethical, empathetic, and has a social purpose. With that, it had become particularly sustainable; it is slowly moving away from the blitzscaling, all-for-profit-only startup just like what was known before.
New startups are now finding ways on how they can do well not just for the people but also for the planet. Some companies are doing their part in saving the planet. Some of them have been doing initiatives on how they can make their products earth-friendly but still maintaining its quality. Who have thought that you can combine your business model with a social purpose?
Why Should You Be Updating Yourself With These Startup Trends?
Success – this is what we are aiming for, the reason why we are keeping a close eye among the startup trends at present and in the coming years. If you are planning on building your startup, these trends will serve as your guide to create one that is unique and will become successful. As an entrepreneur, you already know how competitive the business world can be, if you are still stuck up on old methods and trends, success is unlikely to be achieved. So, level up your entrepreneurial mindset with these new trends and build a successful startup today!