If you are taking the leap into entrepreneurship or just getting started making money on the side, you should check out these trends that are showing lots of potential.
1. Join the sharing revolution
“The most successful businesses in this new millennium operate on this principle. The world’s largest media outlet produces no media, facebook (NASDAQ: FB); the world’s highest grossing retailer doesn’t manufacture the goods it sells, Walmart (NYSE: WMT); and the year’s fastest going taxi cab service owns no cars, Uber (IPO pending), says Drew Paul, founder of Blabor.com.
“The reason these business models are so successful,” Drew continues, “is that it is impossible for the standard business model to compete. The sharing movement is powered by the the internet not paperwork, giving it the ability to process more data. This model has a workforce made of crowds not individuals, giving sharing based businesses unprecedented fluidity. These new business models run on ideas not assets. These businesses are built to run themselves without the need to be micro-managed, they operate on a strict formula and they stick to it.”
RELATED: How to build your own website fast.
The sharing economy is exploding and the largest demographic in the country, millennials, have embraced it. For 2017, look beyond Uber, Lyft and AirBnb when looking to tap into this market. With the right website, you can start your own service with minimal investment. And its the wild west out there, pick a market that you are familiar with, incorporate this principle and destroy all your competition with this new business model.
Related: Tell us about your website idea
2. Launch a box subscription service
If you want to tap your local or niche market then a box subscription service is the place to start. Over the last couple of years we’ve seen an explosion of box subscription services in niches ranging from beauty to food to gaming to novelty gifts.
Here is how it works. Choose a niche that has a related deppreciable product or product set. Some that come to mind are foods, flowers and, recently, razors from sites like DollarShaveClub. Then, on a regular basis, send it out to your subscribers. Maybe you can find the most luxurious soaps, or package clothing based on your customers size and style like we did for our client MissNis.com.
Since the goods or services are delivered to the customer each month, and it has a recurring billing model, it can quickly become a lucrative and passive source of income. All you’ll need is a website to get your business off the ground and once your up and running your site will do most of the work allowing you to do more of what you love.
Related: Search website domain names
3. Take over a mobile food truck
More and more people, especially those between the ages of 18 to 34, are starting to love the convenience and uniqueness of food trucks and that’s why the food truck make up nearly a billion dollar industry.
“For entrepreneurs, food trucks are an appealing business because it’s inexpensive to start, isn’t strapped down to a one location, can be a part-time side gig and you don’t have to start from scratch. Every day thousands of baby boomers retire. If you know any baby boomer looking to get out of the food industry, consider purchasing their established business, which should include customers, recipes, and equipment at the very least.”
Our client Casey C., in a new city with a growing family, followed his passion for food and started whipping up comfort foods in his food truck. He plastered his new logo on the side of his truck, printed up some menus and started handing out business cards. Soon he was a neighborhood sensation. His passion for food showed and he was embraced by the community for his sandwiches and his smile.
4. Earn cash by having an app designed
To be honest, most people don’t make a fortune from their app but whether your app earns you a significant income or just some money on the side, the income is highly passive meang that once they are launced they require little to no work. Here’s some examples:
A successful game just need the right idea and gameplay to be successful. If you have the right idea you can generate a lot of downloads with a well made app.
- Sharing apps
As mentioned above, this is the wave of the future.
- Wiki apps
These fall under the same category as above but are still worth mentioning because of the variety of niche markets available.
- Technical apps
If there is a tool that you think people need, for work or play, an app can probablyy made that does the job. If your idea is good enough, it could be the next big thing.
Related: Talk to a professional App designer
6. Invest in the real estate industry
The housing market is looking strong for the foreseeable future. And in order to facilitate those sales more and more people are turning toward the internet. Now because of the fact that housing purchases are localized to a specific area, it is easy to compete with the big real estate sites. All you have to do is chose an area, and a website can be built to easily import MLS listings. “This allows you to rank high for long tail search terms like ‘real estate key biscayne’ instead of trying to compete for ‘real estate for sale’ on search engine results pages (SERPs).
7. Become a consultant.
Everyone knows something you don’t; and you know something that no one else does. What is it that you are the best at? Well take that knowledge and spread it to the world (for a reasonable fee).
Looking for a place to start? Contact a business marketing consultant here for free.