Startups succeed in unexpected ways. An idea you thought wouldn’t make it to the spotlight may yield a product that becomes a household name, and an idea you could place a bet on may turn out to be dead on arrival.Perhaps you have an idea that seems too weird ever to become successful. Relax!Chances are that yours might even be better than the ones outlined in this article
Top 9 Ridiculous Startup Ideas That Turned Out Successful
Here are some of the weirdest business ideas that made it to the limelight.
- The Pet Rock
Pet Rock takes the lead when it comes to the list of weird startup ideas that became a household name. We wouldn’t make a complete list without Pet Rock. Pet Rock began in 1975 by Gray Dahl when he was drinking with his friends in a bar in Bonny Doon, California. According to those who designed it, the pet was supposed to be a friend to people for as long as they lived. Now, this is even more ridiculous because objects like rocks outlive humans. Pet rock’s success is a result of intelligent packaging and clever marketing. Just like regular pets, these rocks were packaged in a card box to ensure enough ventilation.
Dell was founded in 1984 by Mr. Michael Dell, who dropped out of college after his first year to give more attention to the hellos computer firm. Dropping out of school to establish a computer firm wasn’t a bright idea when Commodore, IBM, and Apple dominated the industry. But a few years later, that decision was a great idea. Dell has so far become one of the leading vendors of personal computers all over the world. The company currently ranks 51st Fortune 500 list.
All over the world, millions of people rely on PayPal for various financial transactions. But before this time, PayPal struggled to reach the front line. PayPal emerged in (1998) when the internet was still new, and people were skeptical about online payment portals.
Although GitHub may seem like a platform for Techies, it has become a massively valuable and powerful tool since its launch. It has also become one of the largest hots of source code virtual internships and boot camps. GitHub is a version-control system that enables people working on a project to collaborate, track and exchange files. Today, software engineers would need to pay a certain amount monthly.
SpaceX began in 2002 when the world paid little or no attention to it. Before its emergence, NASA was the only company attempting to launch a space-related technology. Although when SpaceX came in the early-to-mid 2000s, it had a series of failed launches and some new rounds of investments. But a while later, the company’s prospect looked grim.
Amazon, a platform that started with the idea of selling literary works online, has turned out to become a big name in the e-commerce industry today. With Amazon, anyone can buy products online and have them shipped to their destination. Amazon wasn’t the original name of the company. Jeff Bezos intended to give the company an abstract name, “Cadabra.” However, Amazon’s first lawyer convinced him that the name wasn’t a great idea because it sounded similar to “Cadaver.” Jeff Bezos finally settled for “Amazon” because he liked that his company would eventually be named after the world’s largest river.
Did you know Facebook wasn’t Mark Zuckerberg’s initial idea? His main idea was to build a platform called Facemash, allowing users to compare people’s faces and pick the hottest. Unfortunately, that idea wasn’t convincing to Harvard’s administrators. Hence, Zuckerberg had his project turned and was threatened with expulsion. Zuckerberg came up with a new tweak for the project and called it Thefacebook. A site where Harvard students could search for their colleagues, find out who’s taking the same classes as them, look up friends and create a social network Today, Facebook is the third most visited site in the world. Studies show that Facebook has over 2.9 billion monthly active users, and it also has 1.9billion users who visit the site daily.
If you do a lot of research online, you must come across quora at some point. A platform that lets users share helpful information by interchanging questions and answers on a wide range of topics. Quora was founded by a former Facebook employee – Charlie Cheever. Since its founding in 2009.
Dropbox is the product of an idea aimed at helping people save, distribute, and synchronize files securely. This platform has made it to the front line in the presence of competitors such as Microsoft and Google Drive.
Why Start-Ups Fail On Arrival
If you were to vote on some one-time business owners, you would be shocked at the diverse explanations that their businesses were short-lived. Among other reasons, here are the most common reasons why startups fail:
- Selling products to the wrong market
- Insufficient funds
- Poor market and customer research
- Wrong Partnership
- Poor marketing
- Having the wrong team
What Makes Start-Ups Successful
Ideas alone do not make start-ups thrive. Below are the 10 most critical factors that determine the success of a startup:
- A brilliant Idea
An idea is the number one ingredient. Without it, we won’t even be talking about startups or businesses. It would be best if you had an outstanding business idea for your business to succeed.
You may have some personal bias about the quality of your idea, but brainstorming with industry experts and peers may help you overcome your fears.
Additionally, you can use the following questions as a way to vet the quality of your idea:
- How can the market benefit from my product/service?
- How well do you know the industry?
- Do you have experience in the field?
- What new thing are you introducing that will your competitors have not?
- Business Plan
Creating a well-thought-out and achievable business plan allows you to achieve your business goals and objectives.
An ideal business plan should include:
Goals: Having a clear picture of what you want to achieve and defining the actions you need to take will contribute to your business’ growth.
KPIs: Your business plan should include key performance indicators enabling you to monitor and track the progress of various aspects of your business.
Growth Strategy: This is another critical component of a business plan. The growth strategy should be mainly long-term.
- The Team
When starting a business from scratch, you must assemble some great talents. Build a team of purpose-driven professionals who are not just competent but are also committed and ready to buy your company’s vision.
- Capital or Fundraising
Money is the bloodline of any startup. You need funds to move your business from the imagination to the implementation stage. Great ideas can be ruined if there is no adequate funding.
Successful startups are the ones that have gathered enough funds to run their business. A CEO’s ability to raise funds for his business is one characteristic.
However, the number of funds you can raise will depend on a few factors, such as a viable business and execution plan.
- The execution
Having an idea is just the first step. Execution takes over 90% of the success of a startup. In execution, the team’s experience is needed as their knowledge and background will contribute to making good decisions.
- Marketing and Pricing
A marketing model is basically how your company intends to exchange its products/services for money. Depending on the nature of your business, your marketing model could be offline, online, or both.
A winning marketing strategy that drives purchase will come from customer and market research and understanding how the product/service can help address the customer’s needs.
- Ability to adapt to change
Successful startups are the ones that are always willing to embrace and adapt to changes in their primary industry and other industries that affect them, such as technology.
Knowing when and how to adapt to change can lead to a significant breakthrough in your business.
- Don’t Quit
No matter how great of an idea, plan, or funding you have, there’s bound to be a crisis. However, knowing how to respond in times of crisis is as important as avoiding them.
One poorly treated crisis might be all required to put your business in the ground.
How To Come Up With an Innovative Business Idea
If you are interested in starting being a founder or a business owner, brainstorming ways to solve problems and satisfy needs is an excellent place to start.
Here’s how you can come up with innovative business ideas.
- Identify a need in the market.
A common determinant factor for a successful business is the ability to satisfy customer needs. In this case, you are creating a product or service that helps people achieve a specific result. Think of ways to make people’s lives easier. You could develop a great idea by focusing on people’s needs and satisfaction.
You can break into the industry if you offer a high-quality equivalent to a top product for a competitive price. Reducing the cost of an in-demand product could ensure the success of your entrepreneurial adventure.
Sometimes, your idea doesn’t have to be entirely new. Bringing a product or service to a new location is one way to start. What products or services have you seen thrive in other places you’d like to introduce to a new environment?
Going through this article, you would agree that your idea isn’t the worst. They say (ridiculous) ideas rule the world. Yours might be the next big thing the world is yet to see. So don’t let your dreams die. Use the information in this article to nature and harness your idea. Remember, there are no bad ideas. So tell us, what is the most ridiculous business idea you have ever had?