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John Debrincat
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GSanders12, post: 131229 wrote:
What in your opinion are the most common start-ups that are coming up lately.

also, what is the most common business in your opinion?

discuss.

I don’t really see any patterns in the types of start-up businesses that we see come along. That is the really nice thing about start-ups they can be innovative and opportunity businesses. Just take a look through the Introductions thread in Flying Solo and you will get a good impression of the vast range of business ideas.

Personally I don’t count a second job as a start-up like the Osteopath doing web design.

I like the Wikipedia definition – http://en.wikipedia.org/wiki/Startup_company“A startup company or startup is a company or temporary organization designed to search for a repeatable and scalable business model”. I think that the stats are that 8 out of 10 start-ups fail in the first 2 years which generally means that they were either a bad idea or poorly resourced. The problem is that most entrepreneurs starting a new business don’t plan very well and don’t look for advice. They believe blindly in their own idea and abilities which they should but with a little moderation.

The idea of more food related businesses is a little out of date, they have been done to death. That does not mean that new ones won’t start but the competition out there is tough. So you really need a innovative approach to make it work.

Local is back in fashion so consider opportunities around delivering goods and services locally and using social media.

If it is true innovation then it will take time and the number of start-ups that we have worked with that give themselves only a few month funding is frightening. You need enough capital to support your business plan for 2 years minimum. Hopefully you don’t need to use it all. One last tip of funding don’t do it on credit cards the banks will love you for a while but you are buying your own coffin.