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Now, to the overpriced tools. The first one in the list...
Bloomberg Terminal
- Problem It Solves: The Bloomberg Terminal aims to provide financial professionals with real-time market data, news, and tools for analysis. It's used for everything from tracking market trends and trading stocks to researching companies and industries.
- What the Solution Does: The platform offers a plethora of features, including real-time financial market data feeds, news updates, and an array of analytical tools. It is heavily used in investment banking, asset management, and other finance-related fields.
- Why It's Considered Overpriced: The Bloomberg Terminal can cost upwards of $20,000 to $25,000 per user per year. While it does offer an extensive range of features and is considered an industry standard, the high cost makes it inaccessible for smaller firms and individual traders. Additionally, there are now various other tools and platforms available at a fraction of the cost that provide similar functionalities. The steep price is often justified by its comprehensive features and real-time data, but many consider it to be significantly overpriced given the alternatives.
The most important problems facing humanity
Maybe you have expertise in one or multiple of these problems, so you can help in your unique, specific way.
1. Poverty and Inequality: Economic disparities, both within and between countries, contribute to poverty, lack of access to basic necessities, and social unrest.
2. Global Health: Issues such as infectious diseases (e.g., pandemics), non-communicable diseases, access to healthcare, and healthcare infrastructure are crucial global health challenges.
3. Food Security: Ensuring access to safe, nutritious, and sufficient food for all while addressing issues of hunger, malnutrition, and food waste is a pressing concern.
4. Education: Providing quality education and lifelong learning opportunities is essential for personal and societal development.
5. Access to Clean Water and Sanitation: Many communities worldwide still lack access to safe drinking water and sanitation facilities, leading to health problems.
6. Conflict and Violence: Armed conflicts, terrorism, and violence disrupt societies and lead to displacement, loss of life, and instability.
7. Political Instability: Challenges related to governance, corruption, and political instability can hinder social and economic progress.
8. Biodiversity Loss: Habitat destruction, pollution, and overexploitation of resources are driving species extinction and threatening ecosystems.
9. Migration and Displacement: Forced migration due to conflicts, environmental factors, or economic hardship is a growing global issue.
10. Access to Technology and Information: Bridging the digital divide and ensuring equitable access to technology and information is crucial in the modern world.
11. Aging Population: Many societies face challenges related to an aging population, including healthcare costs and pension sustainability.
12. Mental Health: Addressing mental health issues and reducing stigma surrounding mental illness is gaining recognition as a critical global challenge.
13. Cybersecurity: The increasing reliance on digital technology brings the risk of cyberattacks and data breaches, which can have wide-ranging consequences.
14. Human Rights: Upholding human rights and addressing issues such as discrimination, gender inequality, and social justice remains a priority.
15. Water and Air Pollution: Pollution of natural resources, including air and water, has adverse effects on human health and the environment.
16. Economic Stability: Maintaining stable global and national economies, particularly during crises, is essential for sustainable development.
17. Natural Disasters: Preparing for and responding to natural disasters, such as earthquakes, hurricanes, and floods, is crucial for disaster resilience.
18. Ethical and Technological Challenges: The ethical implications of emerging technologies like artificial intelligence, biotechnology, and autonomous weapons are complex issues.
19. Space Exploration: As humanity expands into space, ethical and environmental concerns related to space exploration and colonization arise.
Idea: A location-specific peer-to-peer services
A platform that connects people with local service providers, such as plumbers, electricians, and handymen. The platform could allow customers to easily find and book services, and it could also provide tools and resources for service providers to manage their schedules and communicate with customers.
Idea: Babysitters for busy moms
A platform that connects busy working mothers with qualified and experienced babysitters. The platform could allow moms to browse through profiles of available babysitters, read reviews from other mothers, and book a sitter on-demand. The startup could also offer additional services such as background checks, insurance, and emergency support.
This idea addresses a common pain point for working mothers who struggle to balance their professional and personal lives. By providing a reliable and trustworthy solution for childcare, this startup would help moms to focus on their careers while also ensuring the safety and well-being of their children.
Idea: Transforming diary entries into actionable wisdom (digital mentor)
Problem: people often write in their diaries or journals to articulate their thoughts, emotions, and experiences. However, most of these writings go unanalyzed, missing out on opportunities for self-improvement and growth. Lack of mentorship and guidance is a real problem that many face, hindering their progress.
Let's call a potential solution WisdomScribe, for example.
The goal of WisdomScribe is to act as the mentor you wish you had: someone who can guide you through your blind spots or roadblocks, suggesting actionable ways to improve. It aims to help you break through the limits of your understanding when you're stuck, guiding you toward becoming a better version of yourself.
🖊 How it works:
1. Read and Understand: Scans your diary entries to pick up on key themes, challenges, or areas of interest.
2. Initiate Dialogue: If it detects a recurring issue or question that you can't seem to resolve, it prompts you for more details.
3. Deliver Insight: Offers tailored recommendations or advice, be it a book to read, a communication technique to try, or a new approach to a problem at work.
When it helps:
WisdomScribe is designed to step in only when you're truly stuck, acting as a digital nudge towards the path of growth.
Notes:
The solution should help a person to see other ways of solving some issues, to highlight things from other perspectives. Thus, it should help a person to become smarter. You can already do so with ChatGPT if using wisely. Some of you may say that LLMs such as ChatGPT may provide inaccurate or harmful information. Yes, they may. The idea is to have other perspectives: from your mind, or Quora/Reddit/friends/ChatGPT/Google search/YouTube/etc. Then one should analyze those perspectives for their validity and accuracy.
Idea: 3D-Printed Personalized Jewelry
"I was raised in Coimbatore, a city located in Southern India with a very entrepreneurial culture. It's also very famous for gold jewelry manufacturing. Given this background, I felt I had a natural advantage and decided to do a startup in this space.
I had little knowledge in this industry at first, so I started off selling plain gold jewelry online under the brand name Krizda, but I soon realized that unless we had a unique value proposition it would be difficult to compete with the local jewelers. In India, there is a jewelry store easily available in a 2 mile radius almost anywhere in the country. If we were to compete here, we had to be different.
At the time we saw a lot of jewelry companies going online, but they had little online marketing experience. Given our lack of sales and high amount of competition, we pivoted into a marketplace helping other jewelers list and market their products on our platform, like Amazon for jewelry. However, this required heavy capital investment, and we did not succeed in raising capital.
One fine day, when Sachin Tendulkar (a very famous cricketer/celebrity in India) retired, there were a lot of gold and silver coins being sold with his face on them. We thought, "Why not do this for our customers and make everyone a celebrity?" That's how we introduced the personalized gold/silver coins."
Idea: Virtual Reality-based Healthcare and Wellness Ecosystem
With advancements in technology and the potential for significant changes in healthcare delivery over the next two decades, there's an opportunity to create innovative solutions that cater to personalized healthcare and well-being.
Problem Set:
1. Aging Population: As the global population ages, there's an increasing demand for healthcare services, including remote care and rehabilitation for seniors.
2. Mental Health and Stress: The fast-paced modern lifestyle can contribute to mental health issues such as stress, anxiety, and depression.
3. Access to Specialists: Rural and remote areas might continue to face challenges in accessing specialized medical care.
4. Preventive Care: Preventive healthcare and wellness practices are crucial to reducing the burden on healthcare systems.
5. Limited Physical Space: Overcrowded hospitals and clinics could lead to a need for more efficient healthcare delivery models.
Business Concept: Virtual Reality Healthcare and Wellness Platform
Create a comprehensive virtual reality (VR)-based platform that combines healthcare, wellness, and medical expertise to provide innovative solutions to the problems mentioned above.
Key Components:
1. Virtual Rehabilitation: Develop VR-based rehabilitation programs for seniors and patients recovering from injuries or surgeries. These programs can improve mobility and functionality through engaging and interactive exercises.
2. Stress Relief and Mental Health: Offer VR experiences designed to reduce stress, anxiety, and promote mental well-being through guided meditation, relaxation exercises, and immersive nature environments.
3. Telemedicine and Specialist Consultations: Enable patients in remote areas to access medical specialists through virtual appointments, providing timely medical advice and reducing the need for travel.
4. Personalized Wellness Plans: Create personalized wellness plans based on users' health data, preferences, and goals. VR experiences can guide users through exercises, nutrition plans, and stress management techniques.
5. Preventive Health Monitoring: Develop VR-based tools for monitoring health indicators, such as blood pressure and heart rate, and providing real-time feedback and recommendations.
6. Medical Training and Education: Offer VR simulations for medical students and professionals to enhance their training, practice surgical procedures, and stay updated on medical advancements.
7. Home Healthcare Support: Provide caregivers and family members with VR tools to assist in home healthcare routines and activities for elderly or special-needs individuals.
Long-Term Vision: By leveraging the potential of VR technology, this business could revolutionize healthcare and wellness delivery by making services more accessible, personalized, and engaging. This approach could lead to improved patient outcomes, reduced healthcare costs, and a greater emphasis on preventive care and mental well-being.
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Idea: "NicheConnect Hub"
Concept: Develop a SaaS platform that serves as a networking and collaboration hub for professionals in various narrow niches. The platform brings together individuals with similar interests and needs, fostering connections and knowledge sharing.
Features:
1. Niche-specific Communities: Create dedicated communities for each niche, where professionals can connect, share insights, and collaborate on projects.
2. Resource Sharing: Enable users to share resources, articles, and tools that are relevant to their niche, creating a valuable knowledge repository.
3. Networking Events: Organize virtual networking events, webinars, and workshops tailored to each niche, allowing professionals to learn and connect.
4. Job Marketplace: Provide a space where professionals can find freelance gigs, projects, or job opportunities within their specific niche.
5. Expert Matchmaking: Offer a feature that helps users find experts or mentors within their niche for guidance and advice.
Monetization:
1. Membership Tiers: Offer different membership levels with varying access to features like premium communities, exclusive events, and resource libraries.
2. Advertising Opportunities: Allow businesses targeting specific niches to advertise relevant products or services to the appropriate communities.
Target Audience:
Professionals, freelancers, and enthusiasts within various narrow niches seeking networking opportunities, knowledge sharing, and collaboration.
Challenges:
1. Niche Engagement: Ensuring active participation and engagement within each niche community is crucial for the platform's success.
2. Curating Relevant Content: Providing valuable and niche-specific resources requires continuous curation and quality control.
3. Balancing Privacy: Niche-focused platforms may need to address privacy concerns and data protection, especially for sensitive industries.
Note: Remember that the success of any business idea depends on thorough market research and understanding the needs and preferences of your target audience. Adapt and refine the concept to align with the unique demands of the niches you intend to serve.
Idea: Sustainable Product Rental Platform
Create an online platform that allows users to rent a wide range of sustainable and eco-friendly products, such as camping gear, electronics, fashion items, household appliances, and more. Users can borrow these items for a specific period, reducing the need for single-use purchases and promoting a more sustainable lifestyle. The platform can also include features to track the environmental impact of each rental, showcasing how much waste and resources are saved through the sharing economy.
✏️ ChatGPT prompts or questions to brainstorm it:
1. Explore the types of sustainable products that could be offered for rent on the platform. How can you ensure a diverse and appealing selection?
2. Generate ideas for educating users about the environmental benefits of renting products instead of buying them.
3. Develop a user-friendly system for booking, payment, and delivery/pickup of rented items. How can you ensure a seamless and convenient experience?
4. Consider incorporating a review and rating system for both products and renters. How can you foster a sense of community and trust among users?
5. Explore partnerships with sustainable brands, local businesses, and organizations that align with the platform's mission. How can you leverage these partnerships to expand the product offering and attract users?
6. Develop a subscription model for users who frequently rent items. What benefits and discounts can you offer to subscribers?
7. Consider integrating a carbon footprint calculator that estimates the emissions saved by choosing rentals over purchases. How can you visually represent this impact to users?
8. Explore ways to incentivize users to return items on time and in good condition. Can you implement a reward system or offer discounts for responsible users?
9. Develop marketing strategies to target environmentally-conscious consumers and raise awareness about the platform's benefits.
10. Consider the scalability of the platform. How can you expand to different regions while maintaining a consistent level of service and sustainability?
Idea: Freelancing Platform for Local Services
Create an online platform where local service providers (such as tutors, pet sitters, handymen, etc.) can offer their services to customers in their area. You can charge a commission or subscription fee for service providers to list their services on your platform. This type of marketplace can be relatively easy to set up using existing platforms and tools, and it can generate revenue through transactions or subscription models.
✏️ ChatGPT prompts or questions to brainstorm it:
1. Explore different pricing models for this freelancing platform.
2. Generate strategies to attract freelancers to the platform.
3. How can you establish trust and showcase positive experiences from other freelancers?
4. Develop methods to ensure quality control of services offered on your platform. How can you verify the skills and credentials of freelancers?
5. Explore how geolocation services can enhance your platform. Can customers easily find freelancers based on their proximity? How can you use location data to offer relevant recommendations and streamline the hiring process?
6. Consider ways to leverage social proof and testimonials. How can you showcase success stories and positive experiences of customers who have used the platform?
7. Explore the benefits of a mobile app for the platform. How can a mobile app enhance the user experience for both freelancers and customers? What features can be optimized for mobile use?
Niches where automation will bring a significant impact:
1. Small Business Accounting:
- Automation can handle routine bookkeeping tasks such as data entry, invoicing, and expense tracking.
- Reduces human error and frees up time for business owners to focus on growth strategies.
2. Inventory Management:
- Automating inventory tracking and reorder processes ensures optimal stock levels.
- Prevents overstocking or understocking, leading to cost savings and improved customer satisfaction.
3. Customer Support Chatbots:
- Chatbots can provide instant responses to common customer inquiries, enhancing customer service.
- Reduces the workload of human support agents, enabling them to address more complex issues.
4. E-commerce Order Fulfillment:
- Automation can manage order processing, picking, packing, and shipping in e-commerce operations.
- Increases order accuracy, speeds up fulfillment, and reduces operational costs.
5. HR Onboarding:
- Automating employee onboarding processes can handle paperwork, training modules, and policy acknowledgments.
- Streamlines the onboarding process, ensuring a smoother transition for new hires.
6. Social Media Scheduling:
- Automation tools can schedule and publish social media posts across platforms.
- Saves time and maintains consistent online presence without constant manual posting.
7. Email Marketing Campaigns:
- Automation can send targeted emails based on user behavior and preferences.
- Improves engagement rates and conversion by delivering relevant content to subscribers.
8. Appointment Scheduling:
- Automated scheduling tools allow clients to book appointments at their convenience.
- Reduces administrative workload and eliminates scheduling conflicts.
9. Home Energy Management:
- Smart home automation can control lighting, heating, and cooling systems based on occupancy and preferences.
- Increases energy efficiency and reduces utility bills.
10. Food Services:
- Automation in restaurants can streamline order processing, kitchen workflows, and payments.
- Enhances efficiency, minimizes errors, and speeds up customer service.
11. Personal Finance:
- Automated budgeting and savings tools can track expenses, analyze spending patterns, and suggest saving strategies.
- Empowers individuals to manage their finances effectively and achieve financial goals.
12. Language Translation Services:
- Automated translation tools can quickly translate content for businesses dealing with international clients.
- Speeds up communication, expands global reach, and saves costs compared to human translation.
13. Data Entry:
- Automation can extract and input data from various sources into databases or spreadsheets.
- Reduces manual data entry errors and saves time.
14. Home Cleaning and Maintenance:
- Robotic vacuum cleaners and smart home devices can automate cleaning routines and maintenance tasks.
- Provides convenience and frees up time for homeowners.
15. Medical Data Processing:
- Automation can assist in digitizing and processing medical records, reducing administrative burden.
- Improves accuracy and accessibility of patient data for healthcare providers.
ChatGPT prompts that may be useful for you.
1. "Imagine a world without [a specific industry]. What innovative startup ideas can you come up with to fill the gap?"
2. "Brainstorming session: What are some technology-driven business ideas that have the potential to disrupt traditional industries?" (Or, specify a particular industry.)
3. "Challenge of the week: Propose a business idea that addresses a pressing environmental or social issue."
4. "What are the most underrated business ideas that have significant growth potential in the <paste industry> market?"
5. "Pitch your dream startup idea in just one sentence. Make it compelling!"
6. "Startup Pivot: Share examples of companies that successfully pivoted their business model and discuss why it worked."
7. "Diving into the future: What industries do you think will dominate the startup landscape in the next decade?"
8. "Startup Spotlight: Highlight a promising startup and discuss its unique value proposition and potential challenges."
9. "Time Travel Startup: If you could go back in time, which startup idea from history would you want to invest in?"
10. "The Future of Work: Share startup ideas that leverage remote work and digital collaboration trends."
#prompts
Idea: Transportation Analytics Platform
A software platform that collects and analyzes data from various sources including GPS fleet tracking devices, traffic data, weather conditions, maintenance logs, and customer feedback. The platform would present this data in interactive dashboards and reports, allowing transportation companies to easily visualize and understand their operations.
This idea would cater to transportation companies of all sizes, from small local delivery services to large logistics companies. With low competition in the market, there is a gap for a comprehensive transportation analytics platform. Advanced users would benefit from the rich insights provided by the big data technology, while beginners and intermediates would find value in the platform's user-friendly interface and actionable recommendations.
Idea: Math learning for Elementary school students
A personalized math learning platform for elementary school students that adapts to their individual abilities and learning styles. The platform would use AI and machine learning to provide a tailored curriculum for each child, based on their strengths, weaknesses, and interests in mathematics. The platform would cover a wide range of math topics, including basic arithmetic, algebra, and geometry.
The platform could generate revenue through a subscription model, as well as through partnerships with schools and educational institutions. By providing a personalized and engaging math learning experience, this startup has the potential to improve mathematical literacy and help elementary school students build a strong foundation in math. Additionally, the platform could offer a convenient and accessible solution for parents who are looking to supplement their children's traditional math education or who are seeking alternative educational options.
Tired of thinking about potential problems to solve? Get a pause and take a look at these useless solutions that solve no problem:
1. Yo App
- What it does: Originally, the Yo App was designed to send the word "Yo" to your friends. That's it—just "Yo."
- Why it's considered useless: Critics argued that the app oversimplified communication to a point of meaninglessness. Although its developers later tried to expand its functionality, the core concept was widely criticized as trivial.
2. I Am Rich App
- What it does: This app was an iOS application that cost $999.99 and displayed a glowing red gem, serving no other purpose.
- Why it's considered useless: The app performed no valuable function other than signaling that the user could afford to buy it. Apple eventually removed it from the App Store.
3. Digital Detox Apps
- What they do: These apps block access to other apps or limit screen time on your devices to encourage "digital detoxing."
- Why they're considered useless: Ironically, they use technology to limit technology, and often don't tackle the underlying reasons for digital addiction. Some critics argue that self-control and discipline should come without needing an app.
4. Pet Rock App
- What it does: This app provides a virtual "pet rock" that you can feed, play with, and care for.
- Why it's considered useless: It's an app version of a concept that was originally created to be a commentary on the uselessness of some consumer products. A virtual pet rock arguably offers even less interactivity and educational value than a real rock.
5. Rage Room Apps
- What they do: These apps simulate a "rage room" experience where you can destroy virtual objects to relieve stress.
- Why they're considered useless: While they may offer a temporary sense of relief, they don't address the underlying causes of stress and may not be an effective or healthy long-term coping mechanism.
6. Social Media "Streaks"
- What they do: Certain social media apps encourage users to maintain "streaks," or unbroken sequences of daily interactions with friends.
- Why they're considered useless: These streaks can encourage compulsive use of social media without necessarily enhancing the quality of interactions or relationships.
While many of you look for ideas here you can take and do something with them ("execute"), there are people who need more profound directions.
I spent some years creating SaaS solutions for some real and not so problems that other people have. I stopped doing so, at least for now. I noticed that those problems I focused on are of a local, small value. It was always something for web apps.
How many people in the world need a website monitoring tool? A fraction of the humanity own a website or a few, a fraction of those know they can monitor, another fraction of those know what problem they try to solve, a fraction of those will search for a solution, a fraction of those will be interested in me approaching them about my new, undiscovered solution.
You can apply that to every popular and modern web apps problem: getting leads, building a website, manage time, organize emails, AI for XYZ, transforming text to social media posts, etc. Are there people who need and search for such solutions? Yes, but those problems aren't so critical. And there are many such solutions available already on the first page of Google search. Go to ProductHunt and all of the products there are like that. They try to fix some problems that 20 people in the world feel critical about. While others focus on what to eat, how to earn more, how to improve their interpersonal relationships, how to educate/improve themselves, etc.
The ideas on this channel or elsewhere don't provide you context or any kind of knowledge. Just raw information you can find everywhere. Nowadays, anyone may create newsletters, channels or any other kind of media where they give you useless information. For example, how to build a business. For people who don't know what do they want.
Do you know what do you want? Are you sure building SaaS is your idea? It's easy to get ideas("be inspired") from someone, fall in love with those ideas, and think that you really want to build without asking yourself.
For those who are sure they wanna build something: regard ideas in this channel as input to spark your thought process. Business ideas are worthless. Nowadays you can generate anything with LLMs. Focus on problems people have. Think of how critical they are. Try to fix important issues.
Anyway, do a catch up with yourself to once again(or, for the 1st time) ask questions: what do you really want? Why?
Idea: Training together
Training programs (runners, cyclists, etc.) for couples with different levels but who want to train together. It should provide data synchronization across different devices - watches, desktops, smartphones.
Why: such apps could encourage couples to train together. Or with friends. To transform training into a competition.
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A list of non-SaaS niches:
- E-commerce (selling physical products online)
- Fashion and beauty (clothing, cosmetics, accessories)
- Health and wellness (fitness, nutrition, personal care)
- Education and training (online courses, tutoring, workshops)
- Entertainment (gaming, movies, music)
- Food and beverage (restaurants, catering, delivery services)
- Travel and tourism (hotels, vacation rentals, tours)
- Real estate (buying, selling, renting properties)
- Automotive (sales, repairs, parts)
- Sports and recreation (fitness equipment, outdoor gear, team sports)
- Home and garden (furniture, decor, DIY)
- Pet care (food, grooming, supplies)
- Personal finance (budgeting, investing, taxes)
- Art and crafts (painting, pottery, knitting)
- Business services (consulting, accounting, legal)
- Non-profit and social causes (charities, activism, volunteering)
- Photography and videography (wedding, events, portraits)
- Beauty and personal care services (hair styling, makeup, nails)
- Language learning and translation services
- Healthcare and medical equipment (supplies, devices, accessories)
Idea: Friendship matching
The service would use algorithms and surveys to match users with compatible people in their area who are also looking to expand their social circle. Users could create profiles, take compatibility quizzes, and receive suggested "friendship matches" with other users. The service could also offer features such as group events and activities to facilitate the formation of new friendships.
Virtual wardrobe management and personal styling service - A service that uses a combination of technology and personal stylists to curate and manage a user's wardrobe, offering virtual consultations, outfit recommendations, and style tips.
Personalized skincare analysis app - An app that uses computer vision and AI to analyze a user's skin and provide personalized skincare recommendations based on their unique skin type and concerns.
Sustainable fashion rental service - A rental service that offers a curated selection of sustainable and ethical fashion options for consumers to rent and wear for special occasions or everyday wear, reducing textile waste and promoting a circular fashion economy.
Online marketplace for local experiences - A platform that connects travelers with unique and authentic local experiences offered by local hosts, providing an alternative to traditional tours and activities.
AI-powered legal document review platform - A platform that uses artificial intelligence to review legal documents, contracts, and agreements, providing a faster, more accurate, and cost-effective solution for legal professionals.
Reddit communities for entrepreneurs and alike:
1. r/startups - a subreddit for discussing startups, sharing advice, and getting feedback on business ideas.
2. r/Entrepreneur - a community for entrepreneurs to share ideas, ask questions, and discuss all aspects of starting and running a business.
3. r/smallbusiness - a subreddit for small business owners and those thinking about starting a small business.
4. r/growmybusiness - a community for discussing strategies to grow and scale businesses.
5. r/venturecapital - a community for discussing venture capital, fundraising, and startup financing.
6. r/SideProject - a subreddit for discussing and sharing side projects and small businesses.
7. r/marketing - a community for discussing marketing strategies, tactics, and trends.
8. r/ecommerce - a subreddit for discussing eCommerce businesses, platforms, and strategies.
9. r/indiebiz - a community for indie business owners and creators to share their experiences and insights.
10. r/EntrepreneurRideAlong - this subreddit is focused on helping entrepreneurs and startup founders build and grow their businesses through shared experiences and discussions.
11. r/business - a subreddit for news and discussions about business and entrepreneurship.
Idea: Restaurant Livestream Order Service Provider
A software and hardware solution that will livestream good quality video and implement live order-taking service for client restaurants all across the food industry.
Purpose
Kind of the "TikTok" Live of a restaurant's shopfront display with an in-call menu picker. This solution affords restaurants the opportunity to connect physically and visibly in real time and across all relevant social media platforms and sell to many more customers within their reach all via video call.
The idea will deploy the hardware, software and personnel needed to reach the large database of hungry customers within delivery reach, display a great shopfront, manage and support customers to make choices and order while in the video call.
This solution will generate revenue from the customers and restaurants through different subscription models as well as through partnership with other food delivery platforms. The idea has a potential of being a first entry into the buisness of incorporating live video engagement into food service delivery.
Why not order with a call?
Till now, we order photoshopped images of the food we want; we are never sure if our food order was handled properly and we are not sure if our food has left the restaurant as they claimed. With the video call, you can see your food in a healthy display, you can see the attendant serve your order, you can watch your food get packaged in the packaging view and confirm it leaving the shop. All of this within three-minute and with less clicks of button than a phone order, with more confidence of your order and without leaving the comfort of your house or office
Now you can window-shop the top restaurants selling your local area...best of all...you are sure they have what you need!
Idea: Negotiation AI Assistant
An AI-powered negotiation assistant that helps individuals and businesses navigate complex negotiations more effectively. This tool would utilize advanced machine learning algorithms and natural language processing to provide real-time guidance and insights during negotiations.
A potential good feature is to provide video/audio recordings of your meetings to this solution. So, the assistant analyzes it and gives you spot on tips.
Features:
1. Real-time Analysis: The AI assistant would monitor negotiations in real-time, analyzing conversations, tone, and context to provide instant suggestions for responses and tactics.
2. Data-driven Insights: The assistant could draw from a database of past negotiations, industry trends, and successful strategies to offer data-driven insights on optimal negotiation approaches.
3. Emotion Recognition: Implement emotion recognition technology to gauge the emotional state of both parties. The assistant could then provide advice on how to address emotions constructively.
4. Counteroffer Strategies: Based on the opposing party's stance, the AI could suggest counteroffers and tactics that align with the user's objectives and negotiation history.
5. Preparation Assistance: Provide users with pre-negotiation preparation tools, including scenario analysis, strengths and weaknesses assessment, and customized negotiation plans.
6. Language Enhancement: Offer language refinement suggestions to ensure clarity, assertiveness, and persuasive communication during negotiations.
7. Confidence Building: The AI could provide real-time confidence-boosting tips and motivational messages to help users maintain a strong negotiation presence.
8. Negotiation Archive: Create a repository of past negotiations for users to review and learn from, aiding continuous improvement.
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- List of Government Grants in Singapore
- and more other resources!
The author of this masterclass spent over a decade in the startup ecosystem and his journey has involved working with the Public Sector of Singapore, ING Bank's Innovation Lab and most recently a brief stint with KPMG where he lead a team that was building a startup accelerator for Series A Startups. In his career he advised over 3,000 startups from ideation to exit.
https://mustafarasheed.gumroad.com/l/MCFundraisingSG
Niches that will grow for the next 20 years, at least:
1. Renewable Energy and Sustainability: As the world continues to address climate change and environmental concerns, niches related to renewable energy sources (solar, wind, hydro, etc.), energy storage solutions, and sustainable technologies are expected to expand.
2. Artificial Intelligence and Automation: AI, machine learning, and automation are likely to drive significant changes across industries, including healthcare, manufacturing, finance, and more, leading to growth in related niches.
3. Biotechnology and Health Tech: Advances in biotechnology, personalized medicine, genomics, and health tech could lead to breakthroughs in healthcare, disease prevention, and treatment.
4. Space and Aerospace Industries: Space tourism, satellite technology, asteroid mining, and Mars exploration are areas that could experience substantial growth as space technology advances.
5. Virtual Reality (VR) and Augmented Reality (AR): These technologies have the potential to revolutionize industries such as entertainment, education, healthcare, real estate, and remote work.
6. Cybersecurity: With increasing reliance on digital technologies, the need for robust cybersecurity solutions will grow to protect sensitive information and digital assets.
7. E-commerce and Online Marketplaces: The shift towards online shopping and remote work is likely to continue, driving growth in e-commerce platforms, online marketplaces, and digital payment solutions.
8. Renewable Agriculture and Vertical Farming: Innovations in agriculture, including vertical farming and sustainable farming practices, could help address food security and sustainability challenges.
9. Transportation and Electric Vehicles: The transportation industry is moving towards electric vehicles, autonomous vehicles, and innovative transportation solutions.
10. Water Management and Conservation: As water scarcity becomes a concern in many regions, technologies for efficient water management, desalination, and water conservation could gain importance.
11. Elderly Care and Aging Population: With aging populations in many countries, niches related to elderly care, healthcare for seniors, and assistive technologies are expected to grow.
12. Blockchain and Cryptocurrencies: Blockchain technology and cryptocurrencies could revolutionize finance, supply chain management, digital identity, and more.
13. Green Building and Sustainable Architecture: Sustainable construction practices and green building technologies will likely play a significant role in addressing environmental challenges.
Most common pricing models:
Fixed Pricing: This is a straightforward model where a product or service is offered at a fixed, predetermined price. Customers pay the same amount regardless of how much they use the product or service. Examples include buying a physical product from a store or purchasing software with a one-time license fee.
Subscription: In this model, customers pay a recurring fee at regular intervals (monthly, yearly) to access a product or service. It is commonly used for software-as-a-service (SaaS) products, streaming services, and subscription boxes.
Freemium: In a freemium model, the basic version of a product or service is offered for free, but additional features or premium functionality are available at a cost. It allows customers to try the product before committing to a paid plan. Many mobile apps and SaaS companies use this model.
Pay-as-you-go: Also known as usage-based pricing or metered billing, this model charges customers based on their actual usage of a product or service. It is often used for utilities, cloud services, and telecommunications.
Dynamic Pricing: This model involves adjusting the price of a product or service based on various factors such as demand, time of day, or customer behavior. It is common in industries like travel (airlines, hotels) and e-commerce.
Tiered Pricing: In this model, products or services are offered at different price points with varying levels of features and benefits. Customers can choose the tier that best suits their needs and budget. Many hosting and cloud services use this approach.
Value-based Pricing: This model sets prices based on the perceived value of a product or service to the customer. The price is not directly tied to production costs but rather to the benefits and value the customer gains from using the offering.
Bundling: Bundling involves offering multiple products or services together at a discounted price compared to purchasing them individually. It can be an effective strategy to increase sales and encourage customers to try different offerings.
Dynamic Discounts: Similar to dynamic pricing, this model offers personalized discounts or promotions to customers based on their behavior, purchase history, or loyalty.
Auction Pricing: In an auction model, customers bid on products or services, and the highest bidder wins the right to purchase the item at that price. This model is common in online marketplaces and bidding platforms.
AI-powered legal document review platform
A platform that uses artificial intelligence to review legal documents, contracts, and agreements, providing a faster, more accurate, and cost-effective solution for legal professionals.
Idea: Friendship matching
The service would use algorithms and surveys to match users with compatible people in their area who are also looking to expand their social circle. Users could create profiles, take compatibility quizzes, and receive suggested "friendship matches" with other users. The service could also offer features such as group events and activities to facilitate the formation of new friendships.