A Portal About Failed Startups

In this article I'm presenting you yet another business idea about "A portal on failed startups". Since always, I've been more interested in failure than success.As they say, 



According to some great researchers on startups, the most important advice to the first time entrepreneurs is, 
"Whatever you'll do, you'll fail for the first time."
And, if you don't, either you're lucky or you've executed it really well(mind the word "executed" because ideation is nothing more than ideas on paper which literally worth nothing,). But, nothing of it stops you from trying. The key here is, 
"Fail fast, fail better."
Almost all the entrepreneurs failed for the first time. Even the biggies like Bill Gates and Steve Jobs failed miserably for the first time. Ref: http://www.hongkiat.com/blog/fail-to-succeed-billionaires/
The key to their success was:
"They learnt from their mistakes." 

Idea description:

I want to create a new portal for failed stories about startups (like yourstory.com for successful startups).

According to a study, almost 1000 startups failed in India alone in last 2 years. We don't even know about most of them. There's a huge sector that people don't have any information about as the media only covers some particular success stories.
Ref: https://qz.com/734236/almost-1000-startups-died-in-india-in-the-last-two-years/

Problems:

  • First time entrepreneurs aren't aware of the market risk, analysis and why startups fail. Startups usually make similar types of mistake that could have been avoided if they were aware of that earlier. Ref: http://tech.co/startup-failure-rates-industry-2016-01
  • Startup is an ecosystem where failure is more important than success.We must know how to fail in order to know how not to fail!
  • Its not easy to find a team who's willing to work on a startup.
  • Startups fail not because they don't work hard. Its because they don't work on targets.

Solution: 


  • A portal where everyone can share their failed startups story so that someone else can continue from there.
  • We fail because we fear to fail. Let's encourage failures as it'll only encourage success in succession.
  • Got a failed startup?Share your failure story and let the world know about your creative idea and all the fantasy you had while creating it.
  • Inspire people by your stories.
  • Even if we have to fail, we can fail better. No point in failing the same way someone else had done earlier!
  • Fail fast fail better!

Target market: 

First time entrepreneurs, wanna-be entrepreneurs, failed entrepreneurs.

Competitors: 

  • collapsed.co

About the portal: 


  • A portal where people can share their journey from idea to setting up the business, the hurdles and how they overcome those and till what point they reached where they called it a stop.
  • Once a person has shared the story, they can declare if they want someone else to continue it where they stopped.
  • It will also help people to find co-founders for their next journey. Also, they can find people who're willing to work with them on their existing startups

Revenue options: 

  1. Promoted Posts (Where in StartUps and Brands can advertise themselves in the form of a post about themselves)
  2. Ad-Sense
  3. Google Custom Search (CSE) – Google shares ad revenue for all clicks and impressions of the ads served through the search bar
  4. OutBound Linking to Events 
  5. Conducting Events – Third party conduct various events for which they can be charged registration fee / facilitation fee (if by other vendor)
  6. Ad-Space Selling – Brands can put up banners in the side bar and in-between in posts for getting hits on their website.
  7. Affiliate Marketing – Promoting products from E-Commerce Websites which pay them on conversion of sale by inbound buyers.

(Ref: https://unicornomy.com/how-does-yourstory-make-money-business-model/)

Cost Structure: 

Major costs: Website development and management, Marketing (events, google ad sense, facebook marketing, content writing and blogs, creative design), Content writers, Interviewers for failed startups., Physical assets: Office space and other infrastructure.

Unique Value Proposition: 

Covering failed startups in spite of regular trend of covering successful startups.

Channel:  

Startup hubs, meetup.com, facebook group for startups etc.

Imp links: To follow my other ideas and to learn the art of creating the business ideas and executing those, follow the below links:


About the author: 

Hi, My name is Sagar Bhatia. I've done my graduation and post-graduation in IT. I'm a python backend developer. I've a keen interest in entrepreneurship. Currently I'm working on my 2nd startup named "7 Dollar Store" (www.7dollarstore.com). I'm an avid traveller and reader. I like playing cricket, basketball and table tennis.

You can find me on:
Location: India

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