Let us start at the heart of all start up ideas, what is there a need for that is not currently being supplied or that has not been fully realized upon. When you find a niche that you can supply a demand for that no one else is supplying or that no one can supply in high demand you have found your money maker. A lot of people become successful with startups no one ever thought they would need in life.
The hardest part about a startup is not the idea, the funding or finding the niche. The hardest part of a startup is getting the advertising out there and picking up interest. That's the difference between Nikola Tesla and Benjamin Franklin.
Once you have found your niche bring it to the market in a revolutionary way that will catch investors eyes. Only then will you garner the respect of your peers.
Firstly it all comes from passion within you.
Creating a business is alot of hard work and without the fire of passion burning inside you the chances of making a success is slim at best, regardless what your start up will be.
Your passion will get you through the long days, the frustration, the endless challenges that you have to face and the problems you will need to solve to get the business to launch stage.
Latest data reveals that 90% of startups fail within the first year. Out of the 10% that do only 5% of those last 5 years. Years ago it used to be 70% of startups fail but because of the internet this has shot up to 90%.
So before you even start thinking about startup ideas think deeply about what your passionate about and from there you can come up with ideas based on your passions that solve a problem or need.
I hope this helps you.
Pete Burrows | Creative Consultant
I'm always saying that first it all comes from passion within you. The best idea is to put your personal passion into your business. However I understand that in this question you are asking about the market and I will give you some suggestions.
If you or another person who is reading this have a passion and interest for the food, there is a fast growing market of vegan products. This is billions dollars industry who is not able to cover all the existing needs of the market and veganism in the USA has grown by 600% in the past 3 years.
This included not only food but also shoes, bags and accessories. There are needs for good quality, perfectly crafted purses and comfortable breathable waterproof boots from the other sources than the animal body.
There is a lot of place for creativity imagination and inventions in this field.
People who are not vegan are trying to go to this market because of possible income.
If you are interested in this idea and will discuss this with the mentor who is vegan and who is watching this market for more than 40 years you are more than welcome to call me any time.
Your most efficient resources are entrepreneurial publications, trend reports, venture capital investment trends and large accelerators such as Techstars and Y Combinator.