This could as easily have been entitled the €1,000 or $1,000 startup…
Time rich and cash strapped? What unique online business could you start for 1000 big ones?
1. The Usage Policy Store
A friend of mine who owns a small business asked me just last week if I had a standard Social Media Usage Policy, Computer Network Usage Policy and Mobile Usage Policy he could add into his company handbook. He understood that his organisation needed social media, but didn’t really know what the parameters should be.
Gavin understands that the usage policy will simply act as guidance for his staff but he didn’t want to invest in a consultant, legal professional or HR professional to make minor adjustments to his working practices. What Gavin wants is an easily edited template that he can pick and choose terms from and insert into his company handbook.
The policy store can extend to cover obscure chapters dispensing advice on tattoos, online gaming and using the company greenhouse (if working in Sciences). The more obscure, the higher the price.
The startup entrepreneur will need to have:
- Legal background
- HR experience
- Be IT savvy
The Model
The 10 most popular usage policies give a light version for free. Sell the full popular usage policies @ £50 each. Add in a videoconference appointment for 15 minutes to discuss @ £50. Sell custom usage policies for around £500, depending on complexity and research required.
The Cost
2. An Online Reputational Risk Analyst
The Financial Services Authority has warned Banks to keep on top of social media sites as they suspect another run on a bank could be triggered by tweets.
Many PR firms offer their customers crisis management services but their contracts are built to react to the local press or television and not the Internet. They work in the same time zones and react at the speed of old media. They need a service capable of alerting them of client problems at the same speed as new media.
Many Marketers’ worst nightmare is that something big happens at a branch or franchise and starts to go viral and the first time they hear about it is 8am the next morning when their CEO calls to ask what the response should be.
A 24-hour social media monitor and reaction task force will soon be a service that banks, PR firms and larger marketing departments will pay for. A professional company with really detailed crisis management procedures will soon be in demand. This firm will not just identify the problem as it happens but assess threat levels, have escalation procedures, dark websites ready to go live in response to pre-planed crises and know when it is time to make that 3am call to the brand owner.
The start up entrepreneur will need to have:
- An eye for detail and a love of procedure
- An understanding of, and ability to use free alert services to keep you on your toes
- A convincing gravitas
- Round the clock availability – no kids, no booze, no social life until established
Cost and Returns
3. Hyper-local Postcode Mashup Paper
This idea is in desperate need of an acronym!
The UK Government, like many western governments are starting to publish non-personal information that traditionally sat in information silos. The content includes topics around allotments, recycling, crime figures, education, healthcare etc. The content is indexed around post-codes and is easy to sort and search.
The Government has kindly created an API (a method to query this data in real time). This means that it is possible to automatically query this changing data and publish it on your own website or print publication. This link is to a little project that experimented with such an idea.
Statistics show that extremely local publications are still in high demand. So what would happen if you created a website for your postcode area that automatically updated with this government data feed? To give the site personality and engage the audience, you make it your business to video interview different residents around the topics published and post them to your website via YouTube.
Next, create a series of social media hot topic forums using Twitter and Facebook designed to stimulate debate and community spirit. Mash these technologies together and finally show leadership and lead the debate around the hot topics that affect your community.
If you manage to get 5,000 avid community contributors and readers you have the ability to mobilize and affect change. Your ability to influence is powerful and this will reveal revenue opportunities. Crack this model, make it a franchise, and find a willing, engaging and enthusiastic entrepreneur for the next postcode over and repeat!
Talents needed include:
- A skill for journalism and finding the story that resonates with the community
- Web development skills including XML parser experience
- Web design skills
- An ability to lead and take the inevitable criticism that will follow
- An entrepreneurial ability to turn your following into cold cash. This may not necessarily be by advertising. It could be by online PR and Google juice value you gain.
If you take up any of these ideas let me know. I’m sure with a little more thought there could be the start of something profitable.
