What you need to kickstart a business, I asked. Cash flow, investment and funds and a bunch of clients, you answered with sheer confidence. Well, all these are secondary things. The foremost thing you need is a killer business idea that not only feeds your soul but also lands you a 5 digit figure.
To become a successful entrepreneur, you don’t need a PhD or decade of experience. You need only three things—hard work, perseverance, and a go-getter attitude. If you’re ready to put your heart, blood, and soul in the business, only sky will be your limit.
Along with this, here are a few more things you must ponder upon before starting a business—
- Businesses according to your passion, expertise, and skills.
- Businesses that align with people’s lifestyle.
- A detailed analysis of your favorable business idea by doing market research, reviews, and public opinion.
- A detailed analysis of the competition for your business idea.
- Business ideas that are minimum on investment and maximum on returns.
3 businesses to start in 2019
- Social media agency
Social media marketing is a timeless business idea. Every company wants to get a considerable leg up in their business and hence requires strong branding forefront. Enterprises have lately realized in order to have a strong impact on the market; they need to have impactful social profiles. But for them, having no proper knowledge or little to no time acts as a major roadblock.
And, their roadblock can turn out as your blessing. Setting up a social media agency requires expertise in driving sales through social media and requires little to no investment. By having a grip on social media platforms such as Facebook, Twitter, Instagram, and LinkedIn, you can add value to your client’s business and, at the same time, carve a niche for yourself.
Businesses these days are willing to spend their money and resources on the management of their social networks. If you can help them boost their lead generation process, your clientele can skyrocket overnight.
- Virtual reality computing
Virtual reality gives an adrenaline rush to a user’s sensory receptors. With each passing day, new VR products are penetrating the marketplace and the industry is growing at a parabolic rate. According to statista, the projected economic impact of AR/VR technology is 15.6 billion USD by the end of 2020. This is a huge market!
Following are the market areas you can focus:
3D movies: 3D movies are a favorite of kids. You can set up a 3D movie theatre and cash out from your viewer’s experience.
Real estate marketing: We all know how tiresome house hunting is. Imagine how convenient it will be to have a walk-through of the houses from the comfort of your home? Sounds convincing? Why not try!
Gaming: VR has revolutionized the gaming industry and we can expect more advancement soon. You can develop an app that pleases the gamers from head to toe. Along with that, market it across various platforms to gain the necessary momentum.
Mystery rooms and lounges are a talk of the town for the amusement they bring in. Various setups are made imitating real-life scenarios where groups of people play VR games or go on VR adventures.
If you’re a tech geek or believe in the power of technology, businesses involving VR can be a good bet to start.
- Vacation rental and hostels
Frequent travelers and backpackers are always on a lookout to travel frugally. In such cases, they’ll prefer to stay in rented accommodation and hostels rather than hotels. Set up a hostel in busy tourist destinations and provide basic necessities such as WIFI, laundry, luggage storage. Additionally, you can also provide fully equipped kitchen facilities, local tours, live music, pool tables, and free meal nights to make your hostel look a lucrative option.
Another good option is to manage the homes of the owners who do not want to have the time and resources to list, store, clean and take care of arriving guests. You can act as a middleman and take your cut for providing the necessary facilities to the guests.
There are an ample number of platforms to advertise these homestays and rental accommodations. You can choose from various rental listings platforms, write an interesting description and promote traffic.
If you can manage these properties well, you can have a surge in the frequency of guests and in your commission.
So, here it is — 3 not so ordinary business ideas you can Kickstart in the New Year. Always remember, you’ll be successful only when you have love and passion for the chosen niche. Get a proper direction, work tirelessly and make smart decisions. I hope you reach zenith heights. All the best!
This is Sharon Winget, Staff Writer with GoodFirms, a review and rating platform of top IT companies & software. A tech geek at heart, I strongly believe technology can transform societies. I enjoy blogging about web design, email marketing, and content marketing.
Disclaimer: This content does not necessarily represent the views of IWB.