Friday, April 30, 2010

First Step

I think the first step to a startup is to see if there are others with a similar idea and if they do analyse how are they doing.

I have been looking up internet to find people doing something what i am thinking about. Have not really found anything close to the main idea which makes me happy.

Another thing also to think about goal of the product. I know this will change over the course of a time and company might end up being totally different than what you thought of originally. But it still will help in the begining so that you know what your goal is. Let me get into the details

I have recently heard a lot about companies like foursquare and Blippy and they creating so much Buzz. I will admit i have not spent more than 10 mins on either and i dont really understand what their business model is. From whatever i saw, i failed to figure how they would generate money. But then companies want to buy Foursquare... i think Yahoo and others want to spend more than $100 million to buy it.

The conclusion i draw is some companies are meant to be bought by bigger sharks and some meant to generate revenue.

I think my idea can sustain itself once i have some traffic and once the viral affect kicks in. But again if there is significant traffic, i know i will hit it big because the data generated will be very useful for search companies and they would definitely be willing to buy this. So i think the idea is good to sustain itself but eventually this will be bought either by Bing (Microsoft) or Google or maybe Facebook ( To retain its traffic) or who knows if new facebook emerges in next two years (There are lot of creative guys working from their basements).

These are just my thoughts as i have started on my new venture. I am more than eager to learn and would advice from you guys.
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