BUSINESS OPPORTUNITIES TO TRY IN 2021
We know that navigating this jungle of business ideas and opportunities can be tricky, so we’ve compiled a list to help you find the one that’s right for you.
Online Business Opportunity
One of the best online business opportunities is dropshipping. Since the entry barrier is low, it is a great opportunity for those starting out and entering the business world for the first time.
Don’t know what dropshipping is? It works like this: the dropshipper – that is, the retailer, which in this case would be you – uses an online channel (usually a website) to sell products manufactured by third parties. But it is these third parties – i.e. suppliers – who package and ship the products to the customer.
This means that with a dropshipping shop you don’t need inventory. Plus, you can sell products in a variety of niches: fashion, beauty, pets, home, cars, and so on. You can also decide to sell only one product. If you want to start an online business, this is one of the most popular business opportunities. The best thing? You can start right away!
Many specialists start their careers as consultants to help a relatively large audience with a specific expertise. For example, you could propose yourself as a Facebook Ads expert and offer targeted advice to companies. Or you could act as a consultant in the fashion industry and guide customers to purchase the products that best suit their complexion. Essentially, it’s about sharing your experience with others to help them succeed. If your idea is to start a business opportunity that you can run from home, think about the skills you excel at and then look for people who need your help.
Instead of offering advice and sharing your knowledge, as a freelancer you make your skills directly available to other companies. You can also hire other freelancers and transfer your projects to them. This way your business will be more scalable. It is an ideal business opportunity to do online or from home, because the work is often remotely: writing, graphics, photography and so on. Let’s take an example: Let’s say your company hires a team of freelance make-up artists and rebooks them on various weddings, photo shoots, and corporate events. The team will be paid for the service, while you will apply a margin on the entire cost to the end customer.
Print on demand
Today, starting an ecommerce can be a very profitable opportunity. And, just like dropshipping, it’s very popular. For example, the print on demand service is in great demand. Basically it works like this: You design your products and send them to a print manufacturer, who packages and ships them to customers in your name.
The key difference between a business that sells “print on demand” products and a dropshipping business is that with the former you sell unique products. In essence, they are products that only you sell because the designs are yours. If this can be an advantage, keep in mind that it will be harder to know what will sell well because you can’t compare yourself to anyone. However, this is a business opportunity that should not be underestimated.
Business opportunity for small businesses
Write a blog
This is certainly one of the best business opportunities for small businesses. The blog can allow you to create different sources of income: for example, you can earn with affiliate marketing, ads, info products, physical products, influencer marketing, sponsorships and so-called “gated” paid content. Once you’ve chosen the strategy that’s right for you, distribute your content – you can implement various SEO and social media marketing strategies to increase traffic to your website and start making money online.
Another popular online business opportunity is affiliate marketing. You can affiliate yourself with brands, even famous ones, and promote their products or services. The brand will then pay you a percentage of each sale. For example, Amazon pays a small percentage of each sale generated by an affiliate, while Shopify pays up to € 2,000 for each new customer. You can start a blog, create social media posts or run ads with your affiliate link and generate sales for the brand you are promoting.
Develop an app
One of the new online business opportunities to consider is app development. You can program an entertainment app or one that is useful for everyday life. To do this you need to be able to write code for iOS or Android, or you can delegate the work to a developer who already has the necessary technical skills. You can find the most suitable professional for your project on a freelance site, but consider that you will probably have to invest tens of thousands upfront. Once your app is ready to be used, you can promote it on the media, social profiles, blogs and with backlinks to popular articles.
Create an online course
E-learning represents one of the most profitable new business opportunities for 2021. More and more people are deciding to learn online, also thanks to the push towards digital caused by the most recent events. The online education market is estimated to be worth € 275 billion by 2025. You can create online courses for various niches, practicing your own skills or leveraging those of other people; or again, you can make your e-learning platform available to those who create courses. This industry is already very popular and will continue to grow, so it’s definitely an opportunity to watch!