Fastest Growing Startups TODAY
The idea of being successful has undeniably changed in recent years, as have the ideas of being connected and informed. In our global mass media culture, where we devour pop culture icons and obsessively stay connected on social media platforms, our concept of popularity and success was bound to shift. However, the route to success has also changed dramatically, and that is a far more interesting subject to discuss and explore.
Starting a business has always been a challenge, and in the past, before the global interconnectivity that the Internet and advanced telecommunications have enabled, it was a slow process. There might have been rapid success, but for brick-and-mortar stores, growth was necessarily slow. Word-of-mouth advertising, personal recommendations, and relatively primitive infrastructure strategies prohibited a company from scaling up too quickly. Over the decades, the speed certainly increased, but it wasn’t until the past two decades when companies could practically corner a market overnight.
Semantically speaking, every company is a startup at one point or another, but the definition as we know it today suggests a certain type of company, although they can come in all shapes, sizes, and industries. A startup typically begins on a small scale, and introduces a new product or service to a small group of people in an attempt to rapidly expand and scale upwards within a manageable, efficient infrastructure. The term came to major prominence during the dot-com bubble in the late 1990s, when it seemed that dozens (if not hundreds) of companies were being founded every day, trying to make their fortune online. Many of them did, but the dot-com bubble eventually burst and the initial excitement of the Internet Age faded into the realization that only certain ideas were profitable.
Despite the burst of that bubble, plenty of those startup companies remained when the dust settled, including Amazon and eBay, both of which were startup companies in the 1990s that began with one person, Jeff Bezos and Pierre Omidyar, respectively. After that initial rush into the startup realm, there was a slight slowdown as the Internet innovators regrouped. However, a new breath of life for startups came with the explosion of mobile technology, which allowed more people than ever to access products, services, and companies online. Furthermore, with the “Internet of Things” allowing for money to be made in more and more intangible ways, it has further reduced the infrastructural costs for startups in many cases.
This second wind of startups shows no sign of slowing down, because our world has become heavily dependent (and addicted) to companies primarily operating online. Compared to the commercial landscape that earlier generations inhabited, we are now living in a brave new world, and whatever your opinion about the shift in the business realm happens to be, you may as well learn something from them.
This is not to say that it’s impossible for a company to become successful in a more traditional style, but the natural evolution of society and business has lent itself to startup companies. Global society has become a fast-paced “get there first or don’t get there at all” type of place, so the immediacy and rapid potential of well-conceived startups tend to be more successful than traditional brick and mortar ventures.
The 10 startup companies profiled in my recent book Turbo Startups some of the most successful startups in recent years, and each of their unique offerings shines some light on what makes a startup successful. We’ll analyze some of the strategies and perspectives from the hottest turbo startups and hopefully provide some new insight for both prospective startups and those that may be struggling to break out in a big way. Some of these lessons are simple, almost embarrassingly close to common sense, while others are creative and unique solutions to seemingly obvious problems that have helped put those companies on the proverbial map.
If you have been eagerly dreaming and planning the next great startup company, take some words of wisdom from people and companies just like you, in the hopes that some of the experience gained through their success will help point you in the right direction.