Sounds minimal unexpected in nature so it has diverse importance. PHD stands for Passion, Hunger & Drive are the driving forces for a startup to sustain in the market. Once Steve Jobs quoted that “You have to be burning with an idea, or a problem, or a wrong that you want to right. If you’re not passionate enough from the start, you’ll never stick it out.”
The term ‘startup’ has become a catchword in recent years with the growing demand in the market. Thousands of startups are started in every corner of the globe, every day. The main impetus behind this irresistible buzz is Passion, hunger, and drive. Passion needs to transmit from each gap of a startup entrepreneur. A passion for accomplishing something that guide makes differences in the lives of individuals takes care of an unfathomable issue, fulfil any need underlies origins of successful startups. Hunger is something like always looking for new opportunities, challenges that are coming when one’s startup is evolving. The Drive is to make it real in the world.
The Startup is not perplexed of another contender anyway, they would anxious of an another startup that will develop with same business nature.
Entrepreneurs don’t have to spend hours and days to discover their passion to start their company. Entrepreneurs have to become willing to start up and then do everything passionately. One’s passion alone can’t make or wreck their startup, but wonders can happen when entrepreneurs become passionate about solving a problem. Entrepreneur’s passion will help them taking their first step into the startup world. Entrepreneurs should then become flexible to passionately cherish everything around them.
I am stating that entrepreneurs don't need to be fixated on their passion as it can prevent the development of their startup. When entrepreneurs try new things, they will discover new passions and it leads to hunger & hunger will look for new technologies, new business models, new challenges.
All the early startups had been triggered by the following ingredients: an unmet customer need (or pain), and some disruptive new technology that had allowed that pain to be solved in a new way.
The Framework evolves: New Business Models
There are many other examples of businesses that have recently succeeded using new business models to disrupt existing players. These include:
Groupon: Group buying to drive significant discounts. (Also represents a new customer acquisition model for local businesses).
Zynga: Leveraging the Facebook platform as a way to acquire customers virally (extremely fast and free).
Angry Birds: Apple’s App Store as a new low cost way of acquiring customers
New Disruptive Technologies
Mobile computing, Smart phones and tablets become the dominant computing platform (over-taking PCs), Touch screens, Accelerometer and Gyroscopes, Cameras and video cameras built-in, Mobile Applications, in-application payments, Near Field Wireless (NFC) coming to smartphones for payments shortly, The Social Graph, Facebook and LinkedIn API’, Facebook’s new Mobile Platform, HD video on the Web, and IPTV, HTML 5, SSD disk drives dropping in price and increasing in capacity, Big Data, and NoSQL alternatives, Virtualization and desktop virtualization, Nanotechnology.
Cloud computing - Infrastructure as a Service (IaaS) – Amazon, Rackspace, etc., Platform as a Service (PaaS) – Heroku, EngineYard, CloudBees, Software as a Service (SaaS).
New Business Models
Leveraging platforms like Facebook, etc. for low cost, viral customer acquisition, App Stores from Apple, Android, etc. for low-cost customer acquisition, Open Source, SaaS, Virtual Goods, CrowdSourcing, Flash sales, Group buying, Marketplaces to match buyers and sellers, Lead generation.