6 Unique Business Startup Ideas That Can Make You Rich In 2023

Unique Business Startup Ideas 

For lots of student business owners, the main problem or challenge is not running a business, but how to start. Some are very good starters, while others are good finishers.

Good starters easily start a business and do well, but they struggle with completion or execution, while good finishers struggle with starting but do well with execution and managerial roles.

Our attention will be focused on the good finishers in this article (those who struggle with starting a business) to help them understand and break the hurdle of a business startup (I hope I don’t forget to write about the good starters who are bad at completing a task).

It will help you make notes on things you should consider before you start your business. It will guide you through the step-by-step process of starting unique business startup ideas that can make you rich any year.

You might also be wondering about a few questions in line with business start-up ideas, like:

How do I create a unique startup?

• Identify a Problem to solve (case study WhatsApp calls)

• The first step is to identify a problem to solve. The best brands around you were built on ‘problem-solving’. The founders started by solving difficulties for their target audience.

• You can do this by doing what is called taking a ‘paper walk’ around your community.

• This will involve you taking a walk with your jotter or perhaps diary and writing down challenges you see or feel around.

• Note down everything you see as you move around. Write on the noise, the calm, screams, music, food, signposts, public places, etc…

• If your business startup idea is internet-based or social media related (if you are interested in online business startup).

• Note down the buzz, the ‘issue’ people are talking about or that you notice is a ‘difficulty’ for online vendors.

• Brainstorm on the solution and create a product around it.

• Attempt to think of thoughts or business ideas that have an effect (a positive one). After doing that, refine, remodel, and restructure it further so your possibilities of getting investors will be increased.

What unique business can I start?

 Think of the future. (Case study: sci-fi movies):

Have you ever pictured the future in any business idea you have?

Ask yourself the following questions:

• What is the long-term value or impact of this business idea?
• What is the impact of this business start-up on the coming generation?
• Note the mistakes you can leverage from existing businesses in your business start-up niche.
• Where will this business startup be in the next 5–10 years?
• Your best bet would be to research what society lacks presently and then act or capitalize on the idea.

 Which business is best for a startup?

Observe Market Gaps:

• There are gaps everywhere, and you only need to observe to find them. Don’t be limited by the saturated market in your chosen field.

• There is always a gap in any saturated market (the case study will still be WhatsApp calls).

• I personally prefer to use WhatsApp calls, especially for international calls, as it is cheaper (what do you think?).

• Before the invention of WhatsApp calls, we only knew how to recharge our phones with call credits.

• But now, calls are cheaper with Whatsapp calls as you only get debited from your data which is far cheaper, especially for international or long calls.

• This gap was filled up by Face book boss, who acquired WhatsApp for $19 billion – the biggest tech acquisition of all time!

Best business ideas for university students

1.  Analyse Your Skills:

• It is important to analyze the skills you have and ask yourself genuine questions about what you can do with it. Your skill might not be technology related though (it doesn’t have to, after all not everyone can be a “techie” yunno)

• The goal is to hunt for people who are in need of your product or skill. It doesn’t matter if your startup is not disruptive or innovative, at least it is helping people solve their problems, and that’s what truly counts.

2.  Talk to Customers:

• It is not enough to discover a problem to solve; it is also not enough to analyse your skills. The main work is a market survey.

• Describe your target audience, conduct research on what you should know about your audience, and what is peculiar about your target audience.

• Talk to your customers who are in your target audience. Have a ‘feel’ of the market and see existing reviews of similar products.

• Leverage any information you get from your survey. But do not start a business without checking if the difficulty you are solving is only for a small or large audience.

• What is it that your competitors are not doing that can you can do, it will give your product more advantage over theirs.

3. Know What’s Trending

• Check out the trends and see what the pattern looks like. Know what’s trending or what is going to trend in the next few months or even years, and then brainstorm a unique business startup idea around it. This is a great way to amass huge profits.

In addition, it is also important as a new start-up to:

4.  Come up with a Low-Cost Version:

Calculate the cost and selling price of your product before you launch your business and compare it with the existing market price.

So, if you can come up with a creative startup idea that’s low-cost and able to storm the industry, you have a successful idea in your hands.

Your pricing can also give you an edge in the midst of other competitors. So, be careful with the cost.

Other important questions to ask yourself before starting a business idea in 2023 are:

• Best Business to start near a university
• Ways to start up a business
• Best ways to start a company as a newbie

Summary:

 It is very important to first identify the problem. Not only that, you have to be completely invested in your idea and vision. Most of the time, people back off or lose interest in between, so to avoid this, you have to evaluate and analyze your idea.

Yet, the most important question is, “How to identify the correct solution to a problem?” 42% of startups fail because they didn’t solve the market need.

While there are a number of different reasons that businesses can fail, two of the most fundamental are that the idea didn’t solve a problem and the business idea didn’t meet the existing needs of consumers.

All still revolves around planning and research.

Did you enjoy reading this article? Do you think there are other factors we didn’t include that you might want to add? Do you have any topics on business startup ideas for young people you want us to write about? I will be happy to read from you in the comment section.

Thanks for reading…

I await your success story.