Coming up with the right idea for business might sometimes be hard. In this fast-moving world, there are a lot of trends that come out every day, and not every direction is worth investing in.
Choosing the wrong one might lead you to substantial business losses, which was the case with the fidget spinner, but if you find the right product, it can bring you huge profits, just like winning a bet for NBA MVP long shots.
That is why we decided to highlight some of the best business ideas and money-making opportunities to start with in 2020.
- Start Online Courses
This has been a prevalent business model in recent years, and people are making a lot of money by establishing online courses. Many platforms can help you start your business, and the best thing is that this business module does not have any requirements or limitations. This means that you can teach whatever you think you are expert on. For instance, people teach how to set up an Instagram account for influencers and make a lot of money from it.
You even don’t have to establish online courses, as you can do it all from a word document or powerpoint presentation. The only drawback is that you will encounter a lot of competition and you will need a good marketing plan to attract people to buy your course.
- eCommerce Grocery Store
Noticeably, people do not have time to go to the store anymore, and they feel more comfortable ordering everyday things from the internet. Online shopping is growing rapidly, and people are starting to order foods and grocery items online.
There is a high demand for grocery products, and all you have to do is establish a good store and showcase some best-selling products that are essential for people. You can either make a deal with a local grocery store to get the items from them at a special price or buy in bulk and make your own storage unit. Either way, it is going to be a successful business opportunity.
- Social Media Consultant
Since social media has become a big part of our lives, there are a lot of people out there who simply do not have time or knowledge to deal with it. Social media is vital for businesses, and if you feel like you are an expert in that field, you can open your own social media consulting agency that will teach people how to become modern marketers.
- eCommerce Service Provider
As we mentioned earlier, eCommerce is continuously growing, and by 2040, 95% of all transactions in the world will be done online. This means that this trend does not intend to stop as the world is digitalizing. Starting your own eCommerce service provider business might require quite a bit of knowledge just because it is a severe job and significant starting capital. However, later, you can charge a percentage from every transaction or make monthly subscription plans that will bring you a lot of money.
- Selfie Drones
Everything got upgraded in this world except for the selfie, where people still have to go through the same procedure. However, since drones are advancing and many large companies are investing in this technology, maybe is a good idea to try and improve the selfie? – Creating a small enough drone capable of taking your picture without any difficulty will be a popular product that everyone wants.
- E-Book Author
If your hobby is writing, maybe it’s time to make some money out of it. There is a massive demand for digital reading devices as well as eBooks and Kindle, which means that you can quickly sell your digital content and make a lot of money out of it. There are also places like Blurp, Lulu, or Amazon that can help you sell it and make a profit.
These are some of the startup business opportunities you can dive in to. However, there are plenty more unique ideas that are still waiting for the right person to come and find them. Investing in a project at the right time might bring you a lot of money, which is why you need to do a lot of research and come up with a unique business plan.
