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Eureka: Some IT startup ideas
by Joseph Gatt
2018-01-05 11:30:23
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Here are some startup ideas if you have money and don't know what to do with it, or if you're looking at thriving.

-The translation and consultant business

This concept does not exist. You have translators and you have consultants. But in a globalized world, documents, legal texts, contracts, instructions and know-how related documents are getting increasingly long and complex.

What you need to know if there aren't that many bilingual people in the world. 400 million speak English, but only about 250 million as their first language. That's a lot of people who don't speak English well or well enough to understand contracts and documents. Many other languages are in need when it comes to translation and consultation.

it1_400A translator is someone who just renders a document from language A to language B. Relying on translators can be cost in terms of time and money, because not every document that is translated will be read, and too many documents need to be translated or don't need to be translated but are translated.

A translator-consultant is someone with legal, technologic and social background but who is also bilingual. Interacting with a translator-consultant means you will discuss and see what documents need to be translated in the target language and what documents or texts merely need to be summarized or explained, in oral form or in written form. You can use any combination of languages and backgrounds for translating consultants.

Translating consultants should be expensive, but should cost not too much more than the price of translation work. Your human resources will be your key, and you will need people who are both good at rendering texts from one language to another but who also have good summarizing, communication and understanding skills. The drawback with the business as in any business will be difficult clients, and you will need to make sure that clients don't treat your staff like their servants.

-The translator-friendly translation business

Most translation startups are client-friendly, and use translators as interchangeables. They don't train translators, don't test them to see their weaknesses and rely on translator pools that are way too large, sometimes as large as 10 or 20,000 translators.

You can make a lot of money if you have a translation business that is both client friendly and translator friendly. Carefully select translators, test them, train them to the craft of translation, test them again. Then make them work. Both clients and translators will be highly satisfied.

-The interpreter app

My final startup idea in the world of languages. Gather a pool of interpreters in any given area, advertise the app for businesses who need interpreters in the area. Kind of like the uber of interpreters.

-The cost of construction estimation app

Don't think this app exists. You know what the problem is in the construction world. Real estate promoters deflate the cost of construction to win the market and please their boss or themselves. They promise to build a park of 20 or 100 buildings, then end up building like 6 buildings and disappearing in the forests. So you want an app that will factor in the different costs for construction and give an estimation to what building the parks or buildings should cost. That way you won't be dealing with people trying to deflate the price to win the market.

-Virtual academic advisor

Rather than offering to write other students' essays which is dishonest and doesn't really help students, you can have academic advisors who will tutor and guide students through the writing phase of their essay, paper, thesis or dissertation. You brainstorm ideas with students, give them tips when it comes to reviewing literature, perhaps help them in their literature review, and give them tips on the methods to write essays, papers, theses or dissertations. In sum, you do what the professor or advisor really should be doing, but in a gentler, friendlier way.

-Virtual examination coach

I have an exam coming up and not sure what to do! Some want a few hours of coaching, others need to be coached through until they are ready to take the exam. Either way, if you do exam prep in a competent, structured, honest and predictable way you'll get a lot of students.

-The competition app

Finally, what's the likelihood of a business competing with your business. Call me if you want criteria, or set up your own criteria to see whether the likelihood of too many businesses competing with your business is high or low, in its present state and in its future state. We all have secret ingredients.

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