The Power of the “Crowd”

We live in a world where customer is the king and her preferences are changing ever so quickly. For an entrepreneur, it becomes very difficult to understand customer preferences and requirements and to find a good product-market fit in the process. Hence in this world we are living in, tapping into the “Crowd” makes complete sense.

The “Crowd” refers to a mass of people who may be connected or not connected to you. Crowdholding is a platform which tries to connect entrepreneurs with the “Crowd” so that they can derive the host of benefits the latter has to offer.

The benefits of the “Crowd” are listed below.

Diverse Opinions – The “Crowd” is a heterogeneous lot of people coming from different backgrounds and demographics. They all come together as they have 1 common interest – engaging with entrepreneurs around their business ideas. This ensures that suggestions and opinions received by entrepreneurs on the platform are diverse and focus on different areas of the business.

Unbiased Feedback – Since the entrepreneur has no previous attachment with the people engaging with his/her business idea, the feedback received can be safely assumed as unbiased.

Implied Agreement – Any opinions which are reiterated time and again can serve as implied agreements by the “Crowd”. Since these implied agreements are opinions of a number of people, the entrepreneur can use the same in further design and development of the product.

Statistically Significant – Even statistically, data collected from a bigger sample of people has more significance when compared with data collected from fewer persons. This data collected can be analysed by clubbing into categories and trends can be identified which again can be used in product development.

Cheaper – Finally Crowdsourcing feedback and ideas consumes lesser time and lower cost when compared with other means to do so.

So if you are a budding entrepreneur and have a business idea, put it on Crowdholding and let the Power of the Crowd assist you in realizing your dream.

Startup Model – Phone Support Made Easy

THE MODEL: A startup which offers businesses phone numbers instantly in over 40 countries. No deskphone or hardware is required. Everything is managed through an app.

STARTUP: Aircall (French startup)

WHAT I LIKE

Core Idea – An app making phone support and collaboration easy.

Features – Users can install and setup the app in a few minutes. Local phone numbers from over 40 countries can be selected by users. Collaboration features such as call cascading across available people, shared contacts, transfer call to teammates, support ticket management and analytics are provided.

Integration- The app can be integrated with popular apps such as Slack, Hubspot, Zapier, Zoho etc.

Free Trial – Users can try the service for free for 7 days, before upgrading to paid plans.

CONCERNS

Competition – The startup will need to compete with established players in the phone support market. These may not be app based necessarily, but have a large customer base and have been in existence for long now.

Startup Model – Brain Games Online

THE MODEL: A brain training platform which works on improving mental well being through training based on neuroscience.  

STARTUP: Memorado (German startup)

WHAT I LIKE

Core Idea – A brain training gym for better mental well being.

Benefit to Users – Users are assessed on where they need to improve. Brain games are then devised and used to improve their mental well being and brain connectivity.

Research Oriented – The startup has strong ties with brain training experts and neuroscientists. Also it has now launched a “Global Cognition Initiative” where it is trying to connect neuroscientists from all over the world to create collaborative world class research on the brain.

Free Trial – Users can try the service for free with an option to upgrade to advanced paid plans.

CONCERNS

Hidden Need – Since this is a need which is not apparent to users, get users to try out the service will be difficult.

Market Size – Since the need is hidden and a lot of customer education is required, the market size seems uncertain and limited.

Startup Model – Recipe Ingredients Delivery

THE MODEL: A startup which delivers ingredients of curated recipes to users every week. Users are sent recipe cards and ingredients so that it becomes easy for them to cook their meal.

STARTUP: Gousto (British startup)

WHAT I LIKE

Core Idea –Startup delivering ingredients for recipes.

Curated Recipes – The recipes are curated by professional chefs and users can chose the recipes that fit their taste. Also recipes are designed and changed every week.

Packaging & Delivery – The delivery boxes use special wool insulation to keep the food warm. Also users can specify where their box can be left, thereby ensuring that they do not have to wait for delivery.

CONCERNS

Competition – A lot of ingredient delivery businesses have started up lately. Also the business will have to complete with regular food delivery startups, which have an advantage of users not having to cook at all.

Startup Model – Flower Delivery Through the Letterbox

THE MODEL: A flower delivery startup which lets users send carefully selected flowers, hand packed and posted through the letterbox with free next day delivery.

STARTUP: Bloom& Wild (British startup)

WHAT I LIKE

Core Idea – A flower delivery startup delivering selected flowers through the door.

Easier Logistics – Since the flowers can be delivered through the letterbox, the logistics of the startup become easier as dispatch can happen from a central location and post/courier can be used to deliver.

Subscription Service – The startup offers a subscription service to customers wherein new sets of flowers will be sent to someone every week, fortnight or month.

CONCERNS

Competition – There is a lot of competition in the flower delivery space. Also flowers through a letterbox maybe an offering which is difficult for users to accept.

Startup Model – Musicians on Demand

THE MODEL: A platform connecting users to musicians. The platform makes it very easy to search for and book great musicians.

STARTUP: Encore (British startup)

WHAT I LIKE

Core Idea – An online home for musicians.

Niche – The platform focuses on a niche which is big and relatively untouched.

Concierge Services – The platform also offers users a concierge service where it helps in identifying the right talent for the right requirement.

CONCERNS

Revenue Model – The platform acts as a connect between users and musicians. Owing to the fact that the business is focused on a niche, maximizing revenues through a robust revenue model is key. Plain vanilla advertising may not be the right model in this case.

Startup Model – Online Learning Tool

THE MODEL: A app which lets users learn mainly languages with courses created by the community. The startup. The aim is to make learning lasting and joyful.

STARTUP: Memrise (British startup)

WHAT I LIKE

Core Idea – An app which makes online learning lasting and joyful.

The Fun Angle – The app turns learning facts and language into a game where you grow a colourful garden of memory. The more you learn, the more the flowers in your garden.

Scientific Learning – The startup focuses on the science behind learning and tries to use the best practices in ensuring that the learning is faster and more lasting. ElaborateCoding, Choreographed Testing & Reminders are used to ensure that users can pick up a language in the fastest time.

Community – Adding a community is a great as it helps in the following ways – users can compare their progress and great content gets crowd-sourced along the way.

CONCERNS

Competition – Online learning tools are in plenty. With some established apps already in this space, building a space for yourself in this market will be difficult.

Revenue – A lot of the competing apps are free and hence building revenues might be a problem for Memrise as well. Driving a business on investor money is risky and not very long lasting. A robust revenue model will need to built in.

Startup Model – Combining Selfies with Moments

THE MODEL: A app which lets users click 2 photographs, one from the front camera and the other one from the rear one, and stitches them together to create 1 frontback image. One image is able to show the moment while the other, which is a selfie, works as an emoji

STARTUP: Frontback (Belgian startup)

WHAT I LIKE

Core Idea – A fun app which captures moments with selfies.

The Fun Angle – Using selfies as emojis and attaching them to moments captured is fun and addictive. Also it helps cut down on users having to upload multiple images on social networks.

CONCERNS

Competition – A selfie app which stitches 2 photographs together may not be enough to get users to download the app.

Startup Model – Fitness Tracking App

THE MODEL: A app which helps users track how much they move every day and how much they need to move. The goal is to move atleast 30 minutes in a day.

STARTUP: Human (Dutch startup)

WHAT I LIKE

Core Idea – An app for fitness tracking and advice.

Passive Location Tracking – A user has to simply set it up once and forget about it. It keeps working in the background.

Good Design – The app has a great animated design and the background picture keeps changing.

Comparing Feature – A user can compare his/her activity levels as compared to people around. This helps in assessment as well as motivation.

Data Analytics & Usage – The app plans to collect data about a user’s home, office, gym and use that to improve daily habits and lifestyle. This will help move the app from a crowded fitness tracking space to a space more focused on fitness support and advice.

CONCERNS

Competition – The fitness app space is a very crowded one. Though Human is trying to differentiate itself, getting user downloads will be challenging.

Startup Model – Track Your Favorite Artists

THE MODEL: A platform where users can track their favorite artists and bands and see when they are performing in their area. Users can also buy tickets through the platform.

STARTUP: Songkick (British startup)

WHAT I LIKE

Core Idea – A platform for users to search for and book tickets for concerts.

Benefits to Users – Users can organize their favorite bands and concerts in one place, get to know when these artists are performing in your area and also book tickets before they sell out.

Big Problem Addressed – Over 50% of concert tickets go unsold. The main reason is that fans are unaware of concerts taking place. The startup tries to solve this problem.

CONCERNS

Competition – A lot of concert discovery and booking apps are competing in the market. The startup will face resistance growing into different geographies.

Startup Model – Camping with a Local

THE MODEL: A platform where users can search for and rent private land for camping. Land owners can list their properties on the platform and users looking for a camping site can search for and rent them.

STARTUP: Gamping (French startup)

WHAT I LIKE

Core Idea – A platform for users to search for and rent out land for camping.

Benefits to Users – Users can look for safe, economical and friendly accommodations which offer an experience which is unique. Land owners can meet new people and earn some money from the land they own.

CONCERNS

Market Size – The size of this market is a concern and the startup may need to expand into other associated models to increase revenue. Ecommerce of camping gear is an option.

Startup Model – The Sailing Marketplace

THE MODEL: A platform where users can search for and rent boats which are financially and technically secure. Boat owners can list their boats on the platform and users looking for a boat can search for and rent them.

STARTUP: Tubbber (Dutch startup)

WHAT I LIKE

Core Idea – A platform for users to search for and rent out boats.

Value Addition – Tubbber acts a backbone in the entire process. It provides the platform for the transaction. Also the startup ensures secure payments, boat and skipper insurance and a personal check of the boat and its owners.

Niche – Focusing on a niche helps users get a better experience.

CONCERNS

Market Size – The size of this market is a concern and the startup may need to expand into other associated models to increase revenue.

Startup Model – Connecting Job Seekers to Jobs

THE MODEL: An app which connects users to jobs based on their skill sets and interest areas. Users can get recommendation from their network.

STARTUP: CutShort (Indian startup)

WHAT I LIKE

Core Idea – A platform for users to connect to jobs of interest.

Ease of Use – The service is extremely easy to use. Users need o create a detailed profile initially detailing their interest areas. The platform then connects the users to jobs which may be of interest to them.

Linkedin Integration – Connecting to Linkedin ensures that the user does not have to enter basic details again. Also it helps in using the existing network of users rather than them having to build a network again.

Freemium Model – The app offers a free service which is complemented with a paid upgrade once the user gets hooked onto the service.

CONCERNS

Differentiation – The app could not present a very clear differentiator from Linkedin. The focus of this startup is to connect users to the right jobs. This focus needs to be highlighted clearly through the user interface and features.

Startup Model – Easiest Way to Send Big Files

THE MODEL: An app which lets users transfer big files, free of charge. The app is free, clean, simple and secure.

STARTUP: WeTransfer (Dutch startup)

WHAT I LIKE

Core Idea – An online file transferring platform for users.

Ease of Use – The service is extremely easy to use. Users can send files without registering and in very few steps.

Benefits to Users – The app has a free and a paid model. The free service lets users send files upto 2 GB. The paid model enhances this size limit to 20 GB. Also users can customize the backgrounds and urls and can password protect confidential file transfers.

Freemium Model –  The free model lets users experience the core service. For an enhanced experience, users have to upgrade to the paid plan.

CONCERNS

Competition – There are a lot of data storage and transfer apps. This space is very competitive and differentiating is difficult.

Startup Model – Making & Sharing Payments

THE MODEL: A mobile app that lets users make and share payments with other users. Users can use the app to make payments either in their Venmo accounts or from their bank accounts or debit cards. Users can also create memories by mentioning what the payment is made for (like splitting a bill, paying for holiday expenses etc.). Also money can transferred back into a bank account within 1 working day.

STARTUP: Venmo (American startup)

WHAT I LIKE

Core Idea – A platform for users to make and share payments with others.

Security – Security is a key aspect in this space. All data is encrypted, stored and protected on secure servers. Also the app has a security support team to answer any questions and concerns of users around safety.

Trust – Venmo is now part of Paypal (a leading online payments app) and the latter plans t let merchants make payments through the former. This adds trust in the minds of users.

Pricing for the User – The app is free to use with a bank account and debit cards. There is a 3% charge on credit cards and certain debit cards. Receiving money is totally free. This competitive pricing will help the app in gaining user traction.

CONCERNS

Sustainability – Since the pricing is very competitive, long term sustainability of the startup is a concern.

Competition – The payment apps space has become very crowded. However, Venmo can benefit because of it being part of Paypal.

Startup Model – Travel Planner, Guide & Memoir

THE MODEL: A mobile app that distills the best of trip planning, travel guides, journaling, sharing and personalized mementos, designed for today’s smart-phone enabled traveler. Users can plan their trips, capture moments during trips and relive them through mementoes.

STARTUP: Firef.ly (British startup)

WHAT I LIKE

Core Idea – An end to end travel planner, guide and memoir for avid travelers.

Product Features – The app first plans trips for users using their demographics and other user recommendations. Users can then discover places to eat, shop, drink, stay etc. Moments during the trip can be captured using the camera and notes features provided. And finally users can create memoirs from their experiences by ordering posters, postcards etc.

End to End Platform – The platform gives travelers an end-to-end platform where they can plan, capture and relive their travel. This ensures more customer engagement and hence higher customer loyalty.

CONCERNS

Competition – There are many apps for users offering a single or a few services from the services offered by Firef.ly. Some of these apps are well established and the startup may find it difficult competing with them.

Many Business Models – Though the app is giving users an end-to-end experience, managing different aspects of the startup will be difficult. All the features are distinct and have their own set of challenges and requirements. 

Startup Model – Connecting Through Recommendations

THE MODEL: An app which lets users get recommendations from friends about books, music, restaurants etc. Users can also find other users sharing similar interests.

STARTUP: Rex (American startup)

WHAT I LIKE

Core Idea – A social recommendations cum networking platform for users.

Market Need – Nearly 84% of users take advice from the recommendations of family, friends and others (source: Nielsen Report). This shows the big need which this app tries to address.

CONCERNS

Competition – Users currently use established social networks and other vertical discovery tools to get recommendations and reviews. Getting users to shift to a new app only for recommendations will be difficult.

Startup Model – Next Generation Social Networking & Messaging Platform

THE MODEL: An app which lets users create visual messages and interact with friends and people they wish to follow. Users can create basic images from scratch as well as interactive images to solicit opinions from other users. Users can send messages privately or one-to-one, publicly across the network and also explore things and brands they wish to follow.

STARTUP: Yubl (British startup)

WHAT I LIKE

Core Idea – A social networking and messaging platform for users.

Product Features – Users can create basic and interactive images, which can be used to solicit opinions from other users. Messaging can be done privately or publicly. Also users can follow brands and users they wish to. There are other interactive features such as pointing to your current location, pointing to a location for  future meetup etc.

Clean Interface – The tool is extremely easy to use and has a clean design which accommodates all the features.

CONCERNS

Competition – The app offers a service which is in a very competitive space. Differentiating itself and getting users to download it will be difficult.

Startup Model – Visual Storytelling

THE MODEL: An Ipad app which lets user create visual stories. Users can import photos from any other app, resize them and then annotate them with captions.

STARTUP: Storehouse (American startup)

WHAT I LIKE

Core Idea – A tool for users to create visual stories.

Product Features – Users can access photos from any app, drag and drop them, alter them and add captions to create stories. Also users can explore other stories on the app and also build a feed to get stories from people they follow.

Design – The tool is extremely easy to use and has a polished design.

CONCERNS

Competition – The app offers a service which is also being offered by other photo sharing apps now. Getting users to download another similar app is a daunting task ahead of the startup.

Startup Model – Video Sequences with Social Participation

THE MODEL: An app in which once a user uploads a video, his/her friend’s and others can post a reply each to the video using a photo or a video, thereby creating a sequence of videos/media which is called Tuurnt. Every user will have 24 hours to participate in a Tuurnt video with one reply each. 

STARTUP: Tuurnt (Canadian startup)

WHAT I LIKE

Core Idea – A tool for users to create memories by letting other users reply directly to a video using another video or a photo, thereby creating a truly ‘social media’. Users will no longer have to see old videos as stand-alone videos.

Time Limit – Users get 24 hours to reply to any video which goes live on the app. This creates a sense of urgency and impulse and can get users to engage with the platform, just like Snapchat did.

CONCERNS

Competition – The app offers an experience which is very close to the ones offered by several big social networks. Getting users to download another social networking app may be difficult.