3 Business Ideas You Wish You Had Known About
At StartUp Nation, we know all of us are looking for a way to get rich and be happy. Usually the two are connected. Here are a few ways these companies are successfully making money in their own way.
1. Stitch Fix
Stitch Fix is changing the online clothing industry. Typically online shoppers are already willing to slightly compromise on price if they get the convenience of staying at home. Stitch Fix takes that to a new level. They offer highly trained stylists to pick your clothes for you- based on your preferences you submit. Their clothes are stylish and they get their market. The way they make money is through a subscription based style where they send you your monthly, weekly, or bimonthly "fix". If you don't like 1 or all the items they send you (they send you 5 items, usually a couple shirts, a couple pairs of pants or shorts, and a pair of shoes), you can send them back and you don't get charged.
2. Steam Games
Steam Games is a digital distribution platform which basically takes over the management of the games' rights and their online play as well as updates. This is great for older games because companies don't want to continue to support older games that they aren't making any money on. For a business they don't have to create content, they get to capitalize on the convenience of both the consumer and the developer, and they provide a great brand. This is also great for consumers because consumers can purchase older games without having to scour the internet; Steam allows immediate downloading and playing of games, and they typically have good prices. It's a win-win-win for all 3 parties.
3. Square, Inc.
I guarantee today if you've been to any small business in the last 7 years, you've used Square. Square processes credit cards for individuals and businesses. The genius here is anyone can run credit cards from their smartphones/tablets for a low processing fee. Square allows small businesses to look professional without having to pay for unnecessary equipment. Their stock went public in 2015 and its now worth 3 times what it was back then.
These have been some of the best recent business ideas- now its your turn to come up with the next one.
1. Stitch Fix
Stitch Fix is changing the online clothing industry. Typically online shoppers are already willing to slightly compromise on price if they get the convenience of staying at home. Stitch Fix takes that to a new level. They offer highly trained stylists to pick your clothes for you- based on your preferences you submit. Their clothes are stylish and they get their market. The way they make money is through a subscription based style where they send you your monthly, weekly, or bimonthly "fix". If you don't like 1 or all the items they send you (they send you 5 items, usually a couple shirts, a couple pairs of pants or shorts, and a pair of shoes), you can send them back and you don't get charged.
2. Steam Games
Steam Games is a digital distribution platform which basically takes over the management of the games' rights and their online play as well as updates. This is great for older games because companies don't want to continue to support older games that they aren't making any money on. For a business they don't have to create content, they get to capitalize on the convenience of both the consumer and the developer, and they provide a great brand. This is also great for consumers because consumers can purchase older games without having to scour the internet; Steam allows immediate downloading and playing of games, and they typically have good prices. It's a win-win-win for all 3 parties.
3. Square, Inc.
I guarantee today if you've been to any small business in the last 7 years, you've used Square. Square processes credit cards for individuals and businesses. The genius here is anyone can run credit cards from their smartphones/tablets for a low processing fee. Square allows small businesses to look professional without having to pay for unnecessary equipment. Their stock went public in 2015 and its now worth 3 times what it was back then.
These have been some of the best recent business ideas- now its your turn to come up with the next one.
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