Social entrepreneurs will want to take advantage of trends to create new business ideas. Many trends come from technology, and the founders of FourSquare have demonstrated the power of using the Smartphone Revolution to their business advantage.
The Foursquare entrepreneurship idea is a bold new business concept which has paid off for its founders so far. As Foursquare passed the 1 million user mark in 2010, it was clear that the idea had legs. Perfectly timed to take advantage of the smartphone revolution, Foursquare is well positioned to to profit from the explosion in smartphone apps and increased customer spend as smartphones become the most common mobile devices in the US by 2012.
Foursquare has developed a market leading location based app which first debuted in 2009 at the SXSW Austin. The app, one of the latest new business ideas, allows users to check in at the places they hang out , earn badges and leave tips for other users. The power of Foursquare is that it not only appeals to consumers but to businesses as well.