With the advent of the Internet, an entirely new frontier was created for business. The first dot-com boom in the late ’90s saw the rise of hundreds of businesses and firms still operating today: Amazon and eBay are just a couple of the prime examples of online companies that have achieved astounding amounts of success since then.
Today, there’s speculation that we are currently in the middle of yet another dot-com boom. To give an idea of the scale at which this is occurring: at the end of 2013, over 140,000 startups were established, and over half of them were based in nations outside of the United States. Israel, for example, is leading the footrace with 375 startups per million people. In comparison, the United States lags far behind at a mere 190 per million.
So, the main question here is, ‘What’s creating this business growth?’ ‘Why are companies like Selby Associates investing and buying start up tech companies?’ The answer can be boiled down to a couple of major factors:
The wireless age
Compared to the surge that was seen in the late ’90s, the Internet is now more easily accessible than ever. So many devices allow for internet access from virtually anywhere, and with developers putting out smartphone and tablet apps to facilitate online business development, creating a startup is less risky and more experimental in nature than it was 15 years ago. This gives entrepreneurs a lot of leeway in trying out unconventional marketing and upkeep strategies.
This emphasis on mobile computing and the ubiquitous nature of wireless Internet access makes it possible to start and develop your business anywhere and utilise the tools to manage and expand it at any time, all with extremely low overhead costs.
Crowdfunding and social media marketing
Another huge edge that today’s businesses have over the e-commerce startups of the ’90s is the easier access to funding. If you go to Kickstarter or Indiegogo, hundreds of businesses are looking for ways to fund their product, and a lot of them see a great deal of success. It’s a live demonstration of the effectiveness of showing your consumers what they want and rewarding them for contributing to making the things they want on the market a reality.
Social media is arguably one of the most crucial marketing tools a startup has: it’s a fast, easy way to communicate to hundreds of millions of people that you have a product or service and you want input from consumers. Better still, there are plenty of services out there to make the process of marketing through social media even more streamlined: Hootsuite, for example, lets you post onto up to six different social networks at once and schedule dates and times for future posts too!
Easy-to-use web hosting
These days, it’s extremely cheap for Internet startups to set up a site and populate it with everything from content to products for potential customers to peruse. With this in mind, web hosting services are welcoming entrepreneurs with open arms. These hosts offer way more in terms of flexibility than they did a decade ago. Many of the most reputed web hosts give domain owners unlimited bandwidth and disk space so you can conveniently store and access all of your content without having to sweat over limitations.
Combine that with the overall convenience of cloud computing with cheap outsourcing for what used to be expensive in-house testing and development. Then add content management services like WordPress ensuring that anyone with access to a computer can create an appealing and user-friendly website without extensive knowledge of Flash, PHP, or HTML, it’s no wonder so many people are willing to try their hand at creating a startup!
So, what are you waiting for? The fruit of entrepreneurship is ripe for the picking and easier to access than ever before. If you’ve got a plan for something you want to share with the world, the tools are out there to make your ambitions a reality!