Simple Business Ideas That Changed Entire Industries

Simple Business Ideas That Changed Entire Industries

The digital revolution has allowed so many startups to apply simple ideas to products or services that have turned into billion dollar businesses.

Industries such as lodging, digital entertainment, human resources, or trading have meaningful examples of how focusing on simple things can lead to great successful ventures.

Today we will be reviewing some of the most successful companies that took a simple idea and ended up developing a problem-solving service for people.

Digital entertainment

The Internet completely changed the world in which we live today. Every single industry has benefited from it, even industries that hadn’t been associated with digital technologies up until then.

Casino gaming is one of these. The migration of the entertainment you find in a land-based casino to digital environments has proven to be a success all over the world. Today we have thousands of online platforms that offer casino games.

And the opportunity that Asiabet detected was that of bringing together a unique platform, the best of the online casino industry, with fully reviewed casinos, the best bonuses available, and guides on how to make safe deposits on betting platforms.

Thanks to their efforts in recommending secure platforms, you’ll be able to find an online casino, known in Thailand as คาสิโนออนไลน์, where Asiabet continues to offer services regardless of the local restrictions, just like in other countries with similar contexts like China.

Online Marketplace

OpenSea feels as if it came out of nowhere. They were just a startup in 2018 and after a few pivotal changes to their core business, they started selling NFTs on a website that was very limited in terms of usability.

But the success of OpenSea comes from focusing on a single service: the marketplace of NFTs. When you use this platform, you must use a third-party wallet for making transactions, they haven’t even built their own wallet.

Now valued at billions, they’re starting to add features to their website, but their success story resides in having implemented simple fundamentals to their business before looking to diversify.

Accounting software

Gusto is today one of the most trusted and used HR management software in the United States. It helps companies with all the necessary paperwork concerning their employees, including taxes, labor, or immigration procedures.

But when Gusto started, they did only one precise thing: Payrolls. They started back in 2011 when tech startups were just beginning to produce a revolution in today’s economy. And in 2011, companies didn’t have the option to run payroll online, and every procedure had to be done personally.

Gusto managed to create a platform that allows companies to automatize a recurrent and essential action in their activities. And this has led them to be valued at $3.8 billion.

Homestays

An online marketplace focused on lodging people at your house. In 2008, when Airbnb opened its doors, this wasn’t a revolutionary idea, nor did it create a need in customers. Other platforms like VRBO or Couchsurfing were having quite the success in this industry.

But what Airbnb brought to the mix was a simple notion that was escaping other platforms: payment.

Neither VRBO nor Couchsurfing offered a platform where transactions could be completed between interested parties. You had to trust your host or your lodged client to transfer the money to your bank account or to pay you in cash. Solving this simple issue made Airbnb the number one platform for hospitality exchange.

Trading software

Today cryptocurrencies are trusted by many, but it was really hard to buy Bitcoin in 2011.

Cryptocurrency freaks back then had to rely on websites like Mt. Gox (which was later hacked and closed in 2014 after all users lost their investments) or make international transfers to unverifiable sources.

There was a huge demand for Bitcoin, but the market wasn’t mature enough to offer a reliable service to make transactions.

Enter Coinbase in 2012. They basically managed to provide clients with a platform where to buy bitcoin with a debit card while guaranteeing not to be hacked and lose all their money.

At the time of the release of their website, you could only buy bitcoin and that was it. Today they serve more than 100 countries and have thousands of different cryptocurrencies available, all with a blog section, news, and detailed graphics of the evolution of every digital asset.

Related posts

Why Businesses Must Invest in Staff Training

Akarsh Shekhar

6 Decisions Business Owners Must Make in Mid-Stage to Grow

Nehita Abraham

Project Management Alternatives to Asana

Akarsh Shekhar