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Sunday, July 4, 2021

Success stories of startups and why they achieved all this success

Success stories of startups and why they achieved all this success
Success stories of startups and why they achieved all this success


Startups are those entities that make our lives much better, imagine your life without services like Aweber, immediate, and Swvl for? Those companies that use at least once a week, which facilitate all aspects of your life!

Startups are important in being able to fill the void in the market and satisfy customers, they are built on solving a problem to delight their customers.

Startups often solve a problem that their founders had, or at least an obvious problem in the environment in which they live, and we will address this when we review the success stories of some startups shortly.

In this article we will show four success stories of the most famous startups in the world and Egypt, namely Uber, Airbnb, eBay and finally fouri Egyptian company.

Through the stories of these four startups we will draw the lessons and reasons that led to their success, their ability to spread and multiply their value.

What are startups?

Emerging companies and Start-Ups are small companies are founded by one or two people with the aim of providing a product or service to fill the needs of the market and potential customers.

Startups have a number of common traits such as being small-at least in their beginnings - where their team is very limited, and they rely on funding from investors, from their founders, or from the friends and families of their founders.

Startups ' tasks vary depending on the market they enter; if they break into a pre-existing market, they focus heavily on outperforming existing competitors by providing a product or service that beats their product and service.

But in the event of breaking into a new market, its first and most important goal is to educate potential users about the importance of this service or product to them and how it will affect their lives positively.

Few startups succeed, but most fail, according to studies; 90% of startups fail and go bankrupt after just five years.

So to find out the reasons for the success of these 10% of startups, we will review the stories of four of the most famous and successful startups in the world and in the Arab world, and then we will draw out the most important factors and reasons why they have achieved such success and fame.

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Startup success stories

1. Uber and Transport change around the world

Uber is one of the largest startups in the world, which has changed the world of transportation forever, who would have imagined that when you want a ride anywhere you will ask for a stranger driver through an app on your phone.

This driver will deliver you to your destination, and then you will calculate it according to the price set by this app, and not only that, but the miracle that many today prefer Uber to taxi, bus or any other transport service.

Uber's story began in 2009 in San Francisco-be aware that this city will be repeated again - with entrepreneur Garret Camp watching a James Bond film in which he is shown tracking the movement of a car through a device he holds in his hand that looks like a mobile phone.

Gart then thought about the possibility of doing this with Apple's new iPhones, but he didn't really take any steps on this.

But that changed after he met the well-known CEO Travis Kalanick, who is the real founder of Uber, and they initially disagreed about whether or not they should own the cars they use, and after a period of discussion they agreed that they should not own the cars to start Uber.

Uber's idea was very successful because at this time in 2009 San Francisco had a big problem with taxis, as there was a law stating that the number of licensed taxis in the city was only 1500.

Imagine 1,500 taxis in a large California city that had a population of over 800,000 at the time, which is why Uber's services were so well received.

This success was not only because it solved a big problem for Californians, but also because of the ease of the car ordering process and Uber's attraction to many motorists-they were then using limousines-.

Travis then thought of the need to expand so that Uber's expansion campaign would begin in just 10 years-around 2020 - in 85 countries around the world and in more than 10,000 cities.

2. Airbnb (from selling corn chips to a market value of $130 billion)

The story of Airbnb is one of the most loved startup stories to my heart and you will know in a little while why, and to those who do not know what Airbnb is; it is a service that offers homeowners and realtors the opportunity to rent their rooms or homes to strangers for a amount of money predetermined by the owner.

It is a very popular service especially for tourists or travelers who want a cheaper alternative to hotels as well as a different experience from the frosty hotel experience.

Located in 220 countries around the world, Airbnb offers more rooms, homes and villas than Hilton, Marriott and other big six hotels around the world.

The genius of this company is that it came at the right time-after the global crisis in 2008 - with the right solution to the very big problem of deteriorating physical conditions.

Brian Chesky and Joe gibia, founders of Airbnb at the time, were living in a house they rented in San Francisco, and after she left their job they realized that their rent would increase by 25% next month.

This meant they were warned to be kicked out of the house for not being able to pay that amount, so these two young men thought of a way to raise money before they were kicked out.

Fortunately there was a big designers ' conference to be held in San Francisco, but all the hotels were then booked, which is why they considered taking advantage of the situation by providing a simple stay in their home for some individuals who would like to attend the conference.

These modest accommodations were air mattresses that were in their closet with breakfast, so they launched Airbeds&Breakfast with an estimated 80 for that stay.

Hence the idea to expand this business, but after launching the right platform to rent and book rooms, they were met with a very big failure they only got one reservation.

Despite this failure never give up even thought they launch the site again, but relying on their credit cards, and came to the idea to exploit the conference will Barack Obama in Denver.

It was expected to be attended by 100,000 people, while the number of rooms in this city does not exceed 30,000, and so they took advantage of the great housing crisis, and this time they succeeded and attracted attention for themselves and their company not only locally but globally.

Unfortunately, this spark of attention was soon extinguished, and they returned again to zero... especially when investors refused to provide them with the funds to pay their debts and to expand their company.

So they had to make chips for the presidential election at this time, sell a box of them for only $40 to raise $30,000, and have the liquidity to keep their budding project going.

In the face of this determination, an investor finally agreed to fund them to become today the well-known and successful company Airbnb, the idea of which was very popular because then Americans wanted in any way to increase their income so that they could live with the fallout of the economic crisis.

Over time the old name was changed from Airbeds&Breakfast to the name we know Airbnb, after which the company's successes rolled to a market capitalization of $100 billion.

Read also: What are the ways to attract investors for your startup?

3. The story of eBay (a quarter of a century of leadership)

I don't think anyone in the world has an internet connection and hasn't heard of eBay, this company created in the 1990s and specifically in 1995 has been a technical and commercial miracle from the day it was created to this day, and eBay has a very strange founding story perhaps the strangest founding story of a startup ever.

Had Pierre made the founder of eBay three days off through Labor Day in September 1995, he decided to create a passing thought had crossed their minds, which is an online platform that allows anyone to sell anything during the auction says is to select a value from elementary.

He had already designed the site in just three days, and wanted to call it Echo Bay, but found that the domain was taken and so he named it eBay.

Only in order to complete this series of strange paradoxes did Pierre sell the first item on his nascent site, he chose it to be a broken laser pointer and started the auction for only one dollar.

The surprise was that this ridiculous auction was so popular that an individual bought this indicator for $15, and this site was probably at first just an experiment that Pierre conducted in his spare time.

After a short time Pierre's internet provider decided to raise the cost of his service because of the Trafic on the site, and then Pierre did not want to pay these fees out of his pocket and decided to charge some fees to the sellers.

Hence the business model to earn the site in the first month about 1000 dollars, and within one year, in 1996 the profit of the site reached more than 400 thousand dollars, to exceed the following year 1997 its profit of 5 million dollars.

Thus the success of eBay continued to such an extent that in a few years it began to acquire important companies one of which is the famous PayPal, the market value of eBay today has reached about $45 billion, and its profits every year are estimated in the billions of dollars.

Read Also:  how to sell on ebay 17 productive eBay selling tips

What are the success factors of startups?

After reading the stories of these four I think you're inferring like some of the points or the factors that contributed significantly to the success of these startups, which I guess lol its existence the company become June Corona Unicorn and valued in the billions of dollars as it is today.

These factors are:

1. Timing

When Uber was founded in San Francisco, the number of cabs was limited to only 1,500 and no more, making the number of cabs significantly reduced for its passengers.

This is what Uber did by first using limousines and car dealerships, and then moving to regular public cars afterwards.

Timing has also contributed to the success of Airbnb, also founded in San Francisco, whose idea seems a bit odd when a homeowner allows a stranger who knows nothing to live in a room of his house or when the occupant stays in the House of someone he doesn't know.

The difference, however, was the timing, as America at the time was heavily affected by the 2008 economic crisis.

What drives people in their time in search of any option helps them to make some extra money and any option is easier than renting a room they don't need, as also for a resident who pays little money compared to hotels to stay in a beautiful and comfortable home.

2. Idea and problem

The second most important factor from my point of view is the idea proposed by the founders to solve the problem.:

Uber, whose founder missed many of his appointments due to the lack or delay of his taxi.

Or Airbnb and its founders who were on the heels of being evicted from their home and needing a new place to live cheaply.

Need is the mother of invention and these startups have demonstrated this by coming up with easy and at the same time effective solutions to large and complex crises, and it was this that helped change them for the whole world as eBay did for e-commerce.

3. Ability to spread

The ability to spread was something of a difference in these companies that we're talking about, many of which have become very widespread in a few years:

It is immediate that started with only two cities and then conquered 300 cities in a record period.

Uber has been able to expand and operate in more than 85 countries after being a service only limited to San Francisco.

Airbnb, which is available in San Francisco and New York, has been able to offer its services in 220 countries around the world.

Read also: Secrets of success in World of money and business

4. Good execution

You may have the right idea and the timing is right for you and the prospects for your company's expansion are very promising, but after hard work you fail even to achieve the least success.

The reason lies in execution, the other important factor on which companies are based is good execution, and if you don't have a CEO and a strong team your startup will not see the light of day and will not bring you the enormous profits you dream of.

5. The ability to act in a crisis

If you read more deeply about these companies and their history you will find that they have had very big problems, and at first glance you will think that they would have shut them down forever, but those companies have bypassed them all with minimal damage.

Of course this may take a lot of effort and fatigue, but here we are today referring to it as the parties of Lebanon and we see its market value in the billions of dollars.

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