While new technologies are obviously important, it is more important, IMHO, to figure out how to apply technologies to solve real world problems. Look at any of the hottest companies, snapchat, Uber, Airbnb, etc. If you get to the core of their strategies, they simply leveraged technology to solve a problem. Occasionally someone will create a new technology that on its own merits is a winner. But even those companies are solving a real world problem. Sometimes the problem is one that is subtle and people didn't even realize they had until a solution came along.

I would also look hard at the enterprise space. Many entrepreneurs are hesitant to enter this space because they believe its lame, they don't want to deal with corporations, or they don't understand the problems. But don't let those factors stop you. Many people have built very successful companies focusing on boring industries.

The other benefit to considering enterprise space is that because of the perceived negativity surrounding enterprise solutions, you'll have less competition. One other benefit is that many corporations today are hungry for solutions and turn out to be good investor partners. I have many years building solutions in the enterprise space and can talk to you in more detail about this topic.

Answered 5 years ago

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