One of the textbook ways to get an idea for a business is to look for novel solutions to existing problems. Ideally, the problem should be widespread enough to ensure a decent market and important enough to spark urgency, and it wouldn’t hurt if people would be willing to spend lots of money on it. However, the takeaway here is that business can be about problem-solving, a fact Mihir Sukthankar knows very well.
There’s a lot that happens between noticing a problem, finding a solution for it, and then monetizing it, but it all goes under the name “business.” Mihir has three either existing or on the brink of being launched, which is quite a feat for someone who’s only been able to legally drive for a couple of years. So let’s see the three problems Mihir has identified and how he’s trying to solve them with his businesses.
The Knowledge Gap
Long gone are the days when being a stock trader was something that looked like what people would see in movies. Trading has been disrupted, like most other industries, by tech. This disruption democratized it and brought trading down to the people. The only problem was that, while people could easily join platforms such as Robinhood, they might not have the correct ideas about what to do when they got there.
One of the missions of Mihir’s first business, Traders Circle X, was to bridge that knowledge gap. TCX did it in two separate ways. When Mihir saw that the new influx of traders is much more interested in making money trading than actually doing all the boring work of learning about trading and following markets–something that came naturally to Mihir–he came up with the idea of aiding his members through watchlists and webinars. These ideas from the watchlists would prompt traders to make their own independent trades with a high chance of profitability.
The other part is the TCX Academy, the company’s educational project that offers courses and guides for avid learners.
The Lack of Spare Time
Trading can be a time-consuming activity. Even with the shortcuts provided by services such as TCX, many people who would like to get into trading simply don’t have the time to do it. These are the people who would rely on automation for their trading.
Mihir wants to provide automation in the form of BoostedQuant. This service is a trading bot that will rely on algorithms to make investment strategies for the future. Once set in motion, the bot should execute the algorithm to match its users’ financial goals.
The Access to Information
Learning about trading is one thing. Having access to relevant information every day is an entirely different thing, and it’s just as hard to achieve as learning trading in-depth. Ideally, traders need high-quality information in a concise and digested form that doesn’t take that much time to consume.
That’s the issue Mihir is tackling with Market Dice. This service will supply relevant information on a daily and weekly level. However, it will also offer learning paths for people who want to get more knowledgeable about trading and marketing in general.
If you want to keep up with Mihir Sukthankar, you can follow him on Instagram at @mihirtrades.