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Business Ideas #89: Predictions Platform, Solopreneurship...

Plus Making +$20m in Profits Selling Toilet Paper

Welcome to Half Baked, the newsletter serving up business ideas as regularly as crypto exchanges get hacked. 

Here’s what we’ve got for you today:

  1. Business Idea💡: A platform based around predictions

  2. Drunk Business Idea 🍻: Making snoring a thing of the past

  3. Just The Tip 📈: The Rise of the Solopreneur

  4. The Moneyshot 🤑: Making +$20m in Profits Selling Toilet Paper

BUSINESS IDEA | STARTUP

Predictions Platform 🔮 

Premonition Monetization

Available Domain: Futureproves.com

💡 TLDR: A platform which tests the accuracy of predictions made by public figures to help businesses to understand who they should listen to

1. Problem/Opportunity

The Problem/Opportunity: Throughout history many have dared to make bold predictions about the future. Nostradamus. Mystic Meg. This dude.

Or what about Steve Ballmer’s legendary iPhone prediction? In the social media age executives, politicians, podcasters are all making predictions about their company, the market or the world at large. But how can you know who to trust? How do you separate the signal from the noise? This is how.

Market Size: Honestly…no clue.

2. Solution 

The Idea: A platform which tests the accuracy of predictions made by public figures to help businesses to understand who they should listen to

How it Works:

  • The platform scrapes the internet for predictions made by public figures in different areas.

  • These predictions are then compared to what actually happened to give the person a reliability score e.g. Elon Musk’s ability to predict Tesla’s future growth

  • Any recent predictions they’ve made are also captured and given a probability of happening based on their previous predictions

  • Experts and thought leaders are also outbounded for their predictions on certain areas to generate proprietary data. These are then aggregated and shared e.g. polling AI experts on when we will reach AGI

Go-to-market: Early use case here is to sell to Wall Street firms to see who’s most accurately able to predict market trends

Monetisation: Monthly subscription fee (a few thousand dollars)

Startup Costs: You’ll need to do a small raise here to get this off the ground

3. How You’ll Get Rich 💰

Exit Strategy: The move here is to sell to a large research firm,

Exit Multiple: SaaS multiples should apply here, so you’ll be somewhere around 5x - 7x forward revenue for a B2B business

DRUNK BUSINESS IDEA

Anti Snoring App

Does your partner snore, ruining your beauty sleep and by extension your entire life?

Well we’re here to help with our new anti snoring app. This links to your smart device, from Eight Sleeps to Apple Watches and everything in between, and shocks your partner if it detects them snoring.

The shock is only 50 volts so it’s completely harmless (we hope).

Coming soon to a bed near you.

JUST THE TIP

Trend 📈: The Rise of the Solopreneur

Solopreneurship is having its moment. The movement, popularised by Justin Welsh and others, runs counter to Silicon Valley’s mantra of building billion-dollar businesses in favour of creating small, profitable, one-person businesses that you can design your life around.

Business Ideas

  • Co-founder-as-a-service: a pay per month service which acts as a co-founder, working on the areas of the business you don’t have expertise in

  • Solopreneur Accelerators: accelerators which help aspiring solopreneurs to get off the ground

  • Accountability-as-a-service for Solopreneurs: a service which keeps them accountable to schedules and output

THE MONEYSHOT

Making +$20m in Profits Selling Toilet Paper

Back in 2012 Simon Griffiths read a harrowing statistic.

He discovered that at least 2.4 billion people at the time did not have access to a toilet. So he decided to take action.

He recruited two of his friends, Danny Alexander and Jehan Ratnatunga, and they founded the beautifully named Who Gives a Crap, an eco-friendly, toilet paper subscription brand that donates 50% of their profits to partners working on clean water and sanitation projects.

In order to get the business off the ground they launched a crowdfunding campaign on Indiegogo, but with a twist.

In order to create some stakes Simon agreed to sit on a toilet on a live web feed until they pre-sold the first $50,000 worth of product.

50 hours later…they had reached their goal.

And since then the business has gone with the flow…to great success.

They bootstrapped their way to tens of millions in revenue per year and in 2021 completed a $41.5m raise to accelerate their efforts.

Since its inception the company has done over $100m in revenue and made more than $20m in profits, half of which has been donated to non-profits.

True “roll models” for us all.

FROM THE FANS

#HalfBakedBizIdea

Alex Nelson out here helping us all get drunk earlier in the day. We’re here for it.

DM us or use #halfbakedbizidea on Twitter to get your idea featured in our newsletter.

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