Here’s a business idea: Create a website that makes it easy for people to create and study using flashcards.

How could this website be profitable? Everyone can create flashcards for free for their own use. If they like, they can then “share” these flashcards with the public, so that others can benefit from their hardwork. But, as incentive to create quality flashcards and share those cards, others would have to pay to access them.

For example, Sam creates a deck of flashcards for his Biology 101 course. He chooses to share them with the public. Karen, who is in the same course at the same university as Sam wants to study using flashcards but doesn’t know Sam nor have the time to create her own deck. So she pays $2 to use Sam’s deck. The website keeps 50% of all payments and rewards Sam with the other 50%.

Throughout university, I’ve often found using flashcards useful for studying, but buying the flashcards from the store and creating them takes so much time that it becomes difficult to justify expending the energy to do so. If I had the chance to buy pre-made, university course-specific flashcards online, I actually might have!

The key idea is that these flashcards would be specifically catered to courses at various universities by students in those courses. This makes them so much more valuable then generic, pre-made flashcards that you can buy in stores, as they would test the exact types of information that you’d need for your course.

They could also be used for years to come, as courses usually change very little over even a number of years. This creates a passive income stream for the flashcard creators.

The website would be totally Web 2.0 centric, with the ability to “tag” flashcards with topics, relevant courses, etc. AJAX could be used to shuffle through the deck while studying. Separate stylesheets would need to be created so that the flashcards could be viewed online or printed for offline use.

The only difficult part would be the actual creation of the cards. Version 1.0 would probably only support text and HTML markup, but later releases would also have to support images (uploading and placement), formulas for physics and math, and perhaps even doodling using your mouse as a pen tool.

Lemme know if you are interested in making this happen!