Trending on biz
In the last two months, I’ve visited more than 50 colleges and trained over 5,000 students on generating and converting ideas into businesses. Some very interesting trends have emerged.
High on websites
With the emergence of Facebook, Google, etc, we have seen a lot of interest among students to start a website-related business. The ideas include plain vanilla e-commerce, directories, online counselling/training/placement service, and even odd ones like obituary service. However, the awareness level about back-end ops (server side programming, vendor/supply issues, marketing of online businesses etc) of starting a website/ e-venture is very low.
Lure of food
Many students wish to start a restaurant. Various versions of this idea are doing the rounds — packaged food, cooked Maggi, organic juices, night canteen, highway dhaba, rotating restaurant etc. One student wanted to start a restaurant in the middle of a lake — a submerged restaurant! Very interesting ideas, which given the right opportunity, have the potential to make a mark in the industry. However, this needs a better understanding of other aspects that make a successful restaurant —
location, ambience, staff, raw material procurement, licences etc.
Students think of businesses that they are either consuming or can relate to directly. Unfortunately, manufacturing sector is not their radar. It can be due to horror stories about the greater challenge of setting up a physical infrastructure when compared to a virtual business.
Ideas lack global touch
One thing that hurts me is that most students do not think about a global business. They want to do business in their city, for their college or with their friends but do not think about an idea that can have customers all across the world. This may need some exposure, travelling or interaction with international students.
Article Originally Published in : http://expressbuzz.com/education/trending-on-biz/364741.html