Today I’m going to reveal some of the most interesting business trends where you can find some lucrative business ideas.
If your company is struggling, these are the best online business ideas that will allow you to completely transform your organization. If you are thinking about starting one, then, they can lead you in the right direction. In other words, I wouldn’t want you to waste time and resources building a business you could not sell for a profit.
I’ve seen other people put together eBooks and blog posts on these topics before. Unfortunately, they usually just contain a huge bulleted list with no information on why these are highly profitable business trends. They do not explain why they think it’s a good industry to enter and how your business would actually make money. I really didn’t want to do that when I decided to write about these ideas for a business. Therefore, I covered each trend in a lot of depth so you can see if it’s the right fit for you.
Let’s Start With Some of The Best Business Ideas
A few months back I was writing my online courses for The Economist’s new online learning platform. During the process, I noticed some very interesting trends that caught my attention.
I had previously participated in a few crowdfunds related to some of these industries, but this was a bit different. So I ran the keywords through my usual go-to tools like Google Trends, SEMRush and Similarweb and was slightly blown away at what I had just discovered. A potential game changer for small businesses.
Having gone through the process of building and selling a small business, I understood the challenges and heartbreaking realization that what it took 18 years to build, wasn’t worth as much as I thought it did at the time of exit.
I have since taken advantage of what I found during that process of discovering these wonderful business ideas, and actually never planned on sharing it.
While I’m not the only one to have discovered these opportunities, I haven’t seen them covered from my perspective elsewhere.
So a few interesting things happened since then. Brexit occurred, and it brought to the forefront how much the middle class is really suffering. Also, the U.S. primary elections were underway, and the massive discontent and suffering of the middle class became obvious by the quick rise of Bernie Sanders. The lack of jobs and the fact that the manufacturing industry in the U.S. had gone overseas just made things worse. Kids not being able to get jobs after College. I mean the pain was very real.
So I started thinking…we need some real business ideas so entrepreneurs can start and grow companies. Could this be the answer to transforming small businesses into potentially profitable endeavors? Maybe bring manufacturing back again and therefore create more jobs? How about give service businesses the opportunity to get a higher value at the point of sale?
Then I thought, how could do we convince small business owners that they are missing on some of the biggest business ideas and trends? Even worse, how do we fund these projects? Usually, it is big businesses with deep pockets that go after these massively profitable business ideas and industries, or the Silicon Valley crowd with their Venture Capitalist buddies. Something obviously out of reach for the 99.9999% of entrepreneurs that do not have deep pockets, do not have rich parents and do not have Venture Capital buddies.
Then something even more interesting happened.
On May 16th, 2016 after a long 4 year wait, the U.S. Securities and Exchange Commission (SEC) finally approved Title III of the Jumpstart Our Business Startups (JOBS) Act, allowing non-accredited investors—individuals with an income of less than $200,000 per year or a net worth of under $1 million—to invest in startups.
What does this mean?
- Individuals with an annual income or net worth of less than $100,000 can invest in all crowdfunding issuers during a 12-month period the greater of $2,000 or 5% of annual income.
- Individuals with an annual income or net worth of $100,000 or more can invest 10% of annual income, not exceeding an amount sold of $100,000.
Similar movements already existed in other global markets, such as Symbid in the Netherlands and Seedrs in the United Kingdom.
So to give you an example of what this means, check this out. Do you remember Oculus Rift Kickstarter Campaign (the first truly immersive virtual reality headset for video games) back in December 2012? The company raised a whopping $2,437,429 from 9,522 backers.
Do you know what the backers got?
A Developer kit for the Oculus Rift.
Do you know what the creators of Oculus Rift got?
$2 billion dollars. No, that is not a typo. 2 Billion, with a “B”. Facebook bought the company for $2 Billion dollars.
Now, why didn’t the original Kickstarter backers see a penny of the $2 billion?
Because it was ILEGAL! That’s right. Before the upcoming Title III of the JOBS Act, non-accredited investors could not invest equity in a startup. Only an accredited investor could. Accredited Investor is a term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings.
Well, as of May 16, 2016, all that has changed. Anyone of us can now invest in startups, and most importantly, we can seek investments from just about anyone! No more trying to get connected with Venture Capitalists, or Angel Investors. Anyone that is interested in your product or service can now invest in your idea or product. Yup, get ready for Capital Formation built for the 21st Century!
Voila!!! That was it. The perfect storm just came together. We just needed a visionary to bring it all together to the middle class. That is when I decided to test my business ideas courses by creating online courses. So I launched three courses on Udemy and then published the same courses across different online teaching platforms such as The Economist and a few more.
I was looking for validation. If I had a positive result with these business ideas courses, then I was going to build an entire site dedicated solely to this topic. Furthermore, I was going to do it just for women. Why I choose this market is an entirely different topic, believe me, there is a story behind that too, but that is a subject for a future post.
But alas, this post isn’t about giving you the story about me, so I digress. The courses were a total and absolute success. The feedback I got from students was truly incredible. So it was at that point that I decided to build SovereignWomen.net to help women build a business they can be proud of and potentially sell for a hefty profit. Furthermore, I figured that for women owners who are currently struggling with their businesses, this could be the lifeline they are so desperately looking for.
“Enough of the hype, Jackie, what are these lucrative business ideas?”
That’s it. That’s the answer to the future of any business of any size…but there is a twist to it. More specifically, the type of innovation.
Business Ideas in a Niche That’s Virtually Yours for the Taking…Internet of Things
The Internet Of Things (IoT) is the network of physical devices, vehicles, buildings and other items—embedded with electronics, software, sensors, actuators, and network connectivity. They enable these objects to collect and exchange data, creating opportunities for more direct integration of the physical world into computer-based systems, and resulting in improved efficiency, accuracy, and economic benefit.
This screenshot of Google Trends for IoT, or Internet of Things, for example, should give you some idea of the potential.
Another reason the potential for incredible opportunities is interesting to me, it’s because it doesn’t seem like small businesses are taking advantage of it. Talking about business ideas that can excel your company into the stratosphere!
In both trend terms above, their potential for growth does not seem like it will slow down anytime soon. Lucrative business ideas and opportunities here are endless. This is where truly the imagination is the limit.
It was such a massive success, the group is already Crowdfunding version two of the Onion Omega. That is how fast this stuff is evolving.
Here is the thing, most entrepreneurs taking advantage of this incredible Internet of Things opportunity are young male millennials. Women, especially middle age women who already own businesses are not even on the radar!
While I’m certainly not the only one to realize the massive opportunities in the IoT industry as one of the best ideas for business, it’s always unnerving to see so few women jumping on the bandwagon. Especially women who already have businesses in existence that can fully take advantage of this opening if they are able to transition their businesses into the future…before it is too late.
Now, I am aware of the technological gap that can stop many women business owners. Therefore the goal of this website is to do just that. Help you and your business transition into these upcoming innovations so you can capitalize on this opportunity.
If you don’t own a business or you are not sure this is for you, making yourself aware of this industry can get you started in the right direction.
Making Millions With One of My Favorite Business Ideas…Fintech
If you haven’t been following the latest Fintech craze over the past year then you are probably as equally as confused as I was when I first came across this industry.
The financial technology — or Fintech — revolution, is the new technical revolution challenging the establishment who are seeking to reinvent nearly every aspect of modern banking.
Coming from a finance background, I absolute love the idea. The reason is because the banking industry is one of the sectors of our economy that has not been disrupted by new apps and websites, like bookstores, travel agents, taxis, hotels. This important sector is too set in its ways and it is, therefore, the next one on the list.
The large spike on this graph is for August of 2016, whereas the topic was talked about most in the middle of 2015. That makes me believe that people are going to go crazy for this trend in the coming months.
The interesting thing is that the changes will impact financial sectors beyond the banking industry. Your potential for incredible business ideas is limitless.
Here is a brief synopsis by Wikipedia: The National Digital Research Centre in Dublin, Ireland, defines financial technology as “innovation in financial services“, adding that “the term has started to be used for broader applications of technology in the space – to front-end consumer products, to new entrants competing with existing players, and even to new paradigms such as Bitcoin”
Fintech refers to new applications, processes, products or business models in the financial services industry. These solutions can be differentiated in at least five areas.
- First, the banking or insurance sector are distinguished as potential business sectors. Solutions for the insurance industry are often more specifically named “InsurTech”.
- Second, the solution with regards to their supported business processes such as financial information, payments, investments, financing, advisory and cross-process support. An example is mobile payment solutions.
- Third, the targeted customer segment distinguishes between retail, private and corporate banking as well as life and non-life insurance. An example is a telematics-based insurance that calculates the fees based on customer behavior in the area of non-life insurance.
- Fourth, the interaction form can either be business-to-business (B2B), business-to-consumer (B2C) or consumer-to-consumer (C2C). An example is a social trading solution for C2C.
- Fifth, the solutions vary with regard to their market position. Some, for example, provide complementary services such as personal finance management systems, others focus on competitive solutions such as e.g. peer-to-peer lending.
If you’re wondering where the money is to be made, then read this sentence again – “…the term has started to be used for broader applications of technology in the space – to front-end consumer products, to new entrants competing with existing players, and even to new paradigms such as Bitcoin…” – Yup, it will affect every bit of the financial industry. Every single one!
Again, it is corporations and millennial entrepreneurs jumping in the crazy. Very few women, especially middle age women business owners – like we mentioned in the IoT example – are. You could affiliate yourself with makers or developers who build this kind of apps, make your own, or simply transition your existing products or services to variations of Fintech.
If you are somehow related to the financial industry, I can imagine this is going to be a great market to start entering now.
The Huge Opportunity with Digital Marketing
Digital Marketing is an umbrella term for the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones.
Believe it or not, in the new economy, if your business is not online, you really do not have a business.
When I started my Digital Marketing Agency, I thought everyone was online and that the process of marketing online was simple. Fast forward 13 years later and I realize how fast the industry has evolved and how complex it has become, especially for someone without a marketing background. That is not good for an industry that shows no signs of slowing down anytime soon.
When I started publishing my digital marketing courses in The Economist, Udemy, and other platforms, I was amazed to see how overwhelming and confusing having so many different instructors teaching different channels from different angles was. Thousands of subscribers and students running aimlessly in a million different directions, confused and frustrated, especially when they had no idea what worked and what didn’t.
I remember on one occasion I saw an instructor’s post in Udemy’s Studio. That is the private Facebook group for instructors. He was requesting help on how to promote his courses. I obviously jumped in since digital marketing is my expertise. What caught my attention was that he was actually teaching Social Media Marketing! Wait, what!? He was teaching Social Media Marketing but had no idea how to market his own courses!?
I realized then, how few people really understand the complexity of Digital Marketing. The biggest problem is not that one channel or another is better or worse. The challenge is that there is so much out there and most people teach tiny pieces of an entire pie, making the whole thing a lot more confusing that it needs to be.
Just from a few comments in my woman’s group alone, I could see the pain and aggravation:
- “I have a WordPress site that I never change because I have no idea how to make changes without messing something up.”
- “I work full-time. I don’t have time to figure how to market my business. Please help!”
- “Can anyone share what works for them. I just spent over $200 on FB ads and didn’t get a single sale…argh!”
So I thought, if I was going to take this on personally there would be two options. One, concentrate on one channel at a time and dig deep into it. Or option two, create simplified courses that would cover each channel globally. The second option would help people understand the entire channel first…before spending a dime using it for their own marketing efforts.
So, I decided to create a membership site where it teaches each marketing channel in a simplified manner. My thinking was that once you understood the concept of how each channel works, then you would be in a better position to decide which is best for you. Additionally, I figured, I would add a course every month, or update an existing one if the changes a channel made were big enough.
Confused with Digital Marketing? Maybe Try This…
Since digital marketing is a huge subject, creating a simplified version of each channel made more sense. This would give people a higher chance of succeeding with their marketing campaigns if they understood how each channel worked.
Last but not least: eCommerce
eCommerce (or Electronic Commerce) refers to the purchase and sale of goods or services via digital channels, like the internet or phone apps. It covers a slew of different transactions, from consumer retail, to auctions, music, business exchanges, you name it. It is probably the fastest growing industry in the Internet. The interesting thing about eCommerce, is the huge valuations companies are getting at time of exit. This is no small feat. You can grow an eCommerce site and sell it for a nice chunk of money.
So let’s quickly take a look at the different eCommerce Categories: B2B, B2C, C2B and C2C.
- B2B (Business to Business): These are companies doing business with each other. For example, manufacturers selling to distributors, or wholesalers selling to retailers.
- B2C (Business to Consumer): B2C are businesses selling to the general public such as Amazon. You select the items you want to purchase directly on their website, add them to cart and go through the check-out process. Generally speaking, when people think of eCommerce, this business model is the first thing that comes to mind.
- C2B (Consumer to Business): In C2B eCommerce, consumers post a project online. Then they set a budget, and companies bid on the project. A good example is Upwork.
- C2C (Consumer to Consumer): Good examples of this eCommerce model are Craigslist, eBay and Etsy. Here people post online classified ads, forums or marketplaces items where individuals buy and sell goods.
Wrapping It Up
While I hope you got something out of the industries I shared, it is important that you do not delay taking action. Sometimes, opportunities like the ones shown above happen once in a lifetime.
If you already owned a company, then these business ideas may be a great opportunity for you to take your organization to the next level – what are you waiting for?