What Are The Three Basic Types Of Startup Ideas?

What Are The Three Basic Types Of Startup Ideas?

1 Answer

  1. The three basic type of business ideas are listed below:
    1. Innovative Business Ideas: These are business ideas with new offerings in website, apps, gadgets, mobile, etc. Innovative business ideas can have an edge over others if the market response for product offering is positive as there is not much competition. Having said that such ideas also face demand risk as the demand for these new offerings is uncertain.
    2. Commoditized Business Ideas: These business ideas are the ones that have been carried out since long time and are focused on the local market. For example, restaurants, dry cleaners, mechanic, etc. Such business ideas don’t have demand risk as it is tried and tested since long time.
    3. Hybrid Businesses: These business ideas as the name suggest are a mixture of the above two types. A commoditized business idea with a new twist is termed as a hybrid business idea.
    Example could be teaching online.

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