A new day brings a new “Me too” search engine which strongly believes that search engine market is big enough for everyone to survive (Only time will tell). SearchMe offers new revolutionary technology which delivers search results in site snapshots instead of text.

If you have ever used iTunes to browse through your tracks using Cover Flow 3D graphical interface you will know how SearchMe works. Following image shows what the search results look like

Reasons why I think SearchMe might not be a success

• SearchMe is not clearly solving any problem
• Its easier and quicker to browse through text than images specially when you are looking for text based information.
• Image search engines require more clicks and add more steps involved in the process of searching and reaching the destination site.
• Rendering images require more resources than showing text based results thus shooting the maintenance and infrastructure cost through the roof.
• Business model? Advertising can only be successful if there are enough users searching on SearchMe..

Being that said, it will be interesting to see how SearchMe attracts users and keep them coming back to search more.

SearchMe is not open for users yet, however, you can signup for a beta tester.

Watch the following video to see what SearchMe looks like.

These are my initial reactions, I will write more about SearchMe once I get to use it. Till then feel free to tell us what you think.

I have seen a lot of companies coming up with concepts which cannot sustain for a long time and eventually they fade away. The best business model is the one which solves a problem, one which delivers a solution. It also depends how and where the solution is delivered. If the targeted solution is aimed at a problem where no revenue is involved then the solution will not be able to generate revenue thus questioning the longevity of the business.

The question is, what’s a good revenue generating model and how do I come up with one? This is a very crucial question and can change lives from good to worse if not given enough thought and other way round if given enough thought.

Lets see what is a good business model and how should we come up with one.

What is a good business model?
A good business model is the one which has a very clear revenue generating stream (Not through advertising products such as Adsense etc… such business models can sustain individuals but not companies). A business model which allows people to create business around it will most certainly succeed and will gather a lot of support and not only sustain but grow quickly (Example: eBay, Google Advertising, FaceBook with Applications).

How should you come up with a strong business model?
Business should always be based on your interest, experience and expertise. Once you know your interest, then look where most of the money is earned or spent in that category and try to find problems/hindrances or ways to improve the processes and improve the revenue generating capabilities.

If a business model can do the above then 99 times out of 100 it will be a hit. Everything in this article is based on my opinion and observations, feel free to disagree and leave comments but if you agree with the article and come up with a business model based on what you read here, I am entitled 20% partnership in your business

Barcamp Hyderabad 5 will be hosted and sponsored by Google India. Topics for this Barcamp are 1)Startups 2) Demos 3) Technology tech talk

It sounds very interesting to me and I am really excited about it. So if you are interested follow the link below and register to attend sessions on 15th of Feb

Register here: http://barcamp.org/BarCampHyderabad5

Venue:
Block 1, DivyaSree Omega
Survey No. 13, Kondapur Village,
Hyderabad, A.P 500 032
India

After the final discussions one of the ideas is chosen to be executed and by the end of the weekend the application is launched and a company is registered. This might sound really easy and smooth but things do get pretty tensed at the time of discussions as all the participants think they’ve got the best idea.

Last Startupweekend was held in Seattle and the outcome was a product called “Skillbit”. This online application can be used by the companies and large groups where one on one interaction is not feasible. “Skillbit” diffuses the situation by providing a platform for the employees of the organization to interact and learn more about each other. This product is not yet open for all, however, you can register for an invitation.

So that was about the latest Skillbit. Following is the list of the last five start-ups from StartupWeekend.

Chapel Hill (November 2-4)
Work Perch Attendance: 49
Company Created: WorkPerch
http://workperch.com/
What is it? Workperch is a referral service that connects people who need work space with businesses that have space available.
Status: Private Alpha

Atlanta (November 9-11)
Skribit Attendance: 82
Company Created: Skribit
http://skribit.com/
What is it? Skribit is a user-generated content suggestion application for blogs. Effortlessly assemble what your readers really want to hear.
Status: Private Beta

San Francisco (November 16-18)
Help Hookup Attendance: 134
Company Created: HelpHookup
http://helphookup.com/
What is it? Show your good side and let the world know you care. Add our badge to your Facebook profile and we’ll let you know when volunteer opportunities are available in your area.
Status: Alpha

London (November 30- Dec 2)
A Little Bit Better Attendance: 43
Company Created: aLittleBitBetter
http://www.alittlebitbetter.co.uk/
What is it? A Little Bit Better is a portal featuring ethical reviews of consumer products.
Status: Alpha

Los Angeles (December 14-16)
Frenimies Attendance: 72
Company Created: SocialMixr and Frenemies
http://socialmixr.com/
http://www.frenemiesgame.com/
What is it? Frenemies is a Facebook game where you play your friends in your quest to become the most popular. Help your friends today. Stab them in the back tomorrow. SocialMixr is the parent company, looking to build more games for the casual gaming field.
Status: Alpha, scheduled to launch on the 31st

Here it goes!

Determining the Purpose or the revenue model of a business:
It is really important to determine the purpose of a project/venture first and then plan your moves. The purpose could be to 1) Provide service to the community, 2) sell a product and 3) hybrid version by combing the service to a community and selling a product.

Good examples of providing service would be the free e-mail services such as Gmail, Hotmail and Yahoo where the purpose is to provide service, such services do generate lot of revenue in terms of advertisements however success of such a concept is always in correlation with the number of users, using this service.

Sites like Amazon, Bestbuy.com, Circuitcity.com, etc. are based on the product selling model. Such business models are strong however depending upon the products site deals with the business will be seasonal or will only cater to a niche community.

Historically we have seen that hybrid business models are the ones which make it real big and become the source for other small businesses. Good examples for such business models are Ebay, Google Adwords, etc. Such business models offer service and also sell a product in terms of an enabler.

eBay does not have any product of its own, it acts as an enabler between a seller and a buyer. This business model helps the ends meet by bringing the “need” and the means to satisfy the “need” together. Similarly Google Adwords runs on the same concept, it brings advertisers who are selling a product together with the buyer who is interested in buying a product.

In my view Adwords is not any different from eBay or vice versa, however the business model Adwords is based on, is far better than eBay as the scope is much bigger.

Target Audience
Success or Failure of every start-up depends on how well it is targeted and planned. It is extremely important to identify the audience for the business in question. If your business is limited to certain geographic area then it becomes even more important to focus on few of the following things:

    * Internet penetration
    * Demographics
    * Spending Power
    * Spending Habits

Plan Execution:
This is the most important part of the entire start-up cycle. Any slip-up at this stage might hurt the entire project. People involved in execution of the plan are vital. Someone might be really good at selling products but you cannot hire them if you business model is not selling a product or a service. The point I am trying to make here is that, you should identify people based on your business model and the nature of work involved. The fact of the matter is that not everything goes as planned so always have a plan B.

Few Questions!
Finally! Here are a few questions you should ask yourself before going ahead with any project.

   1. What’s the purpose?
   2. What’s the business model?
   3. Who am I targeting/ Who are my audience?
   4. What part of the targeted audience are internet users or online shoppers?
   5. Do I have the skilled people to carry out this project?

Hope this helps!