Well so as an aspiring entrepreneur, I have finally completed an eternity of procastination and have decided that it is the time to start my company or startup. It qualifies as a side hustle as I have to pursue my education too.
So I have finalized two ideas & want you guys to decide the best one for me. Remember that this will be started in a third world country, so not much regulations
Monetization : comparing medical loans to users. We won't monetize listings as it will sabotage that whole principle behind this
What we are doing, is to create a platform for advertisers and SMBs + Large companies to connect with cab owners who are willing to earn extra income. We then design & wrap the cars with vinyl wraps (by third party mechanic), so they look something like this http://bit.ly/2nRtnr2
http://bit.ly/2nRyQhr
It allows cab owners to earn extra income allowing them to relieve themselves of EMIs and companies to advertise on a platform which is trackable and cheaper than billboards
You're missing the point of being an entrepreneur and you're ignoring challenges that will crush your product later by asking someone else to choose your destiny.
Make a decision, do the best you can, fail, try again.
Can you specify the 'challenges' ?
The typical challenges we all face are these:
Those are the challenges we face and you're ignoring #1 and #2. Why is this crucial and why will you fail if you ignore these? Let's say I tell you to choose #1 and you build it. Shit, you're stuck. Why? Well, now you have 100 ideas for new features or changes, or 25 bugs, or 10 customer requests, but you don't know how to weed out the unimportant. You will probably fail to pick anything and if you do, you'll probably pick the wrong one, because you have no idea how to validate and ensure what you're working on is in the right direction.
The reason that you are tossing a coin in what to pursue is a sign for me you are not passionate enough to execute an idea.
Hey Rahul!
Wishing you the best in this journey ๐
I like the second idea. Agree with what @grammakov mentioned in his reply.
This might be of some help - http://bit.ly/2nRGMj0
Good luck โ
Do post updates here on IH :)
Thanks! Wish me luck
All the best, buddy ๐
First of all, congrats on trying to start!
Next, it is really hard to validate an idea without having more information about your particular region, competition, marketing strategy, budgets and so on.
The first idea has a chicken/egg problem (getting users vs getting hospitals to participate); it also requires a lot of outreach to partner up with medical establishments, and then keeping their prices up to date, which can change daily. Have you thought this through?
Second idea goes way beyond web development, as it requires you to have expertise in polygraphy and print, design. You said "We then design & wrap the cars with vinyl wraps" - if you do that yourself, you will also need a warehouse for your printing equipment and have an operator. You'll need to work with a lot of complaints and perform refunds, if something goes wrong with a print of yours. Those are all additional costs.
Second, I believe you already know the right answer, subconsciously. What is it?
Yep, Prices is an issue here but as a medical student, I have found them constant in a majority of places. I may create a dashboard for businesses.
The vinyl wraps would be printed by an external third party car mechanic. We will be getting insurance for damages. Complains and Refunds are a part of every business.
I love the vinyl wraps as its B2B, plus it can create its own traffic and help financially weakened drivers to relieve their debts. But at the same time as a med student. I would like to have a medical startup + it helps poor people to gain access to healthcare as noone in India uses health insurance + loads of cheating and overpricing by hospitals in India
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What you say is true. I may try to help them only by allowing them to apply to charity hospitals or get loans for the lowest interest
Our population is quite illiterate in importance of fitness and healthcare. Plus it is a mammoth task to undertake such large hospital undertaking can be done by the government
What I can do is to westernise health insurance. In India you get insured for critical illness with a fixed amount (about 4000$), bills surpassing that is not paid + you are not covered for doctor visits & consultation (general stuff) and you need to catch an illness which is specified by the company to be eligible for the money. However in US there is a deductible and a copay to save your ass in noncritical and critical illnesses. But it is a mammoth task too due to the presence of medical mafia
There is no one who wants to fund the tests of a poor person. Bureaucracy.
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Yep, you are right. We can allow advertisment through moderation.
But here we are highlighting the fault in private hospitals by their high costs and bad reviews, Will they still be willing to do so
Besides which one idea do you prefer..
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What then According to you a startup that "Start-ups have the ability to recreate and re-envision reality"?. Is it really possible to change a country's infrastructure.
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Thanks for the kind shoutout @webapppro ! ๐๐ผ
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Thanks for your reply