With so many new entrepreneurs entering the scene and new businesses popping up everywhere, one might be overwhelmed when debating on which of their new business ideas to execute and make come to life. But what are the current trends in the business world?

Peter Harris and Diogo Myrrha both belong to companies that back up entrepreneurs. They are well accustomed to pitches for businesses when founders need some backing or funding to help them get their feet off the ground.

Today they share the biggest trends when it comes to starting a business that may help you find your platform for your next company.

While there are new business being created everyday, there is certainly a trend among a few start-ups. These include:

-Podium knockoffs
-ICO companies
-Artificial Intelligence
-Apps

Podium Knockoffs

The company Podium is basically a review or rating system for companies. It’s a company that helps your business receive more leads, promotions, and get better, quicker, more successful and profitable interactions with customers.

Many start up companies are gearing towards this type of system. Creating a reviewing system, easier interactions, or generating leads is something everyone wants to get their hands on.

Something these budding companies forget though is that their business will take more than creating a good reviewing system. There are many other steps involved in creating a company that is successful in this area.

ICO

This stands for Initial Coin Offerings, or crypto currency. Think Bitcoin and Ethereum. ICO’s are gaining in popularity as blockchain companies continue to grow and expand, but is the concept all the way there?

So much hype is surrounding these companies. One main reason for that is due to the company BitCoin. Since Bitcoin launched in 2010 it is has almost had nothing but an increase in growth and profits, except for one unfortunate year.

Many think thought that they can create their ICO now, and then figure the details out later. In good business it is generally a solid idea to have a full view of your concepts before you launch.

Another problem with this approach is that they all have a cap of how many coins they can create. Often the cap is 50 million in total coins and this is reached within a very short time frame of the company initially starting.

Another problem for ICO communities is that there is little set regulation for how they govern their affairs. ICO’s are still in their infancy even though they have been around for 10 years. These associations need to be better regulated to create safety measures for the consumer and the founders.

Artificial Intelligence

Artificial Intelligence is gaining in popularity everywhere. It is widely used in just about any device that includes needs for electricity especially. Chances are likely you have multiple uses of artificial intelligence on the devices you use and you don’t even know it. Due to its wide abundance, it isn’t as unique a concept as it once was.

Many people are finding their niche creating some form of artificial intelligence no matter how shallow it may be and throwing it to bigger systems who can benefit from them. It could be something as simple as an inset timer or something that tweaks your photos.

When creating any type of website or app, it is a good idea to have some form of artificial intelligence involved. It makes your company more credible and will likely be backed easier than a company that doesn’t incorporate AI at all.

Apps

Where ages ago, (as little as five years ago), creating apps used to require some big technological connections to servers etc, it is relatively easy to create an app in our day. It costs a founder very little to create an app that can function on multiple levels and on multiple platforms.

It is likely that if you have a need for something, there is an app for that. Need a timer to remind you when to switch the laundry? There’s an app for that. Looking to know what time it is in another country without much effort? There’s an app for that.

Apps are being created everyday. Some popular ones among college students are:
-Dating apps
-Parking apps
-Mindfulness apps

Dating Apps are gaining in popularity among a younger crowd. The ‘college age’ young adult is accustomed to having distant connections at their fingertips as they’ve likely always had access to cell phones, particularly texting on cell phones. Using technology to find their special someone is not a foreign or absurd idea to them.

Parking Apps are generally more used in larger cities and on larger campuses. These apps help students park with ease on busy campuses and helps them to be able to spend more time studying and attending classes than on driving a parking lot countless times before a spot has been found.

Mindfulness Apps are a newer type of app. There are multiple different types of mindfulness apps ranging from programs that help you to breath, to meditate, and also to be rewarded when you put your phone away.

This type of app may be rather controversial depending on which social app developer you talk to. One particular app will take note if your phone has remained ‘off’ during a class and then rewards you while on campus for your focus. Another app will let you set limits for yourself on how much you use any particular app, especially time hogging apps like social networks etc.

The main problem with apps like any of these is that its hard to stand out above the crowd in a sea of apps that are being created daily. Finding a way to stand apart and be compelling will definitely take some time and money to achieve. In addition, its not just creating an app but creating an app that will be USED that is the key.

There are lots of different and exciting business options for 2018. Do any of these resonate with you?

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