Tuesday 5 February, 2013
Philip Alexander from Venture Advisory writes at StartupSmart that it's important for start-ups to avoid launching a business that is a "me too" or in a low growth sector. He emphasises the need for innovation and creativity, and also to be "disruptive, exciting and profitable".
His prediction that internet-based start ups will continue to top the charts this year is naturally music to our ears here at OneShift.com.au, but what other sectors does he think will perform well, among the thousand of ideas being pitched in the start up space?
Alexander suggests that clear business planning, strong management, customer traction, good margins, and strong competitive advantages in a growing industry sector greatly improve the chances of securing start up funding.
We think this is important guidance for all firms, especially our small businesses partners registered at OneShift.com.au. Alexander points to the 65% increase in the number of US-based start ups attracting seed funding in 2012.
Beyond IT and software, he identifies growth sectors in education, e-commerce, green solutions, healthcare and fitness. Naturally we'd add start up jobs sites to that list, as Jake Mitchell's also December AFR article suggests. (slow to load, but worth the wait)