Do you have a unique business idea?
Are you ready to ring the bell and kick start your business?
“Starting a new venture is not only a tough call to make, but also running it is a painstaking challenge”
Henceforth, before starting any business in 2020, here are a few essential tips that will help you in building a successful foundation for your business.
Your business idea must fulfill the following criteria:
- It should thrive in the present market
- It should have the potential to gain profit in the present and coming years
- It should be sustainable enough even in uncertain economic conditions
- Your business idea should be competitive enough in comparison to your competitors
You want to convert your dream business idea into reality, groundwork is done, research is complete, financial projections are right in your mind. So, can you right away start your venture? Yes, you are thinking in the right direction, the most crucial thing to threshold your business is missing - A Business Plan. A popular saying says, taking the first right steps takes you a step forward towards success.
Before moving forward, we have some business ideas for 2020 which will not only be sustainable but also will give good returns in the future.
Amazon Sales Business
Amazon Sales Business is popularly known as fulfilment by Amazon sales. Amazon – one of the largest online retail markets allows you to sell your products on its platform. It is one of the most trending as well as a profitable business model. Why is it so? Amazon keeps you away from innumerable headaches of running an online retail business. Further, you need not worry about your brand building in the initial phase because of well-established Amazon’s trust and belief.
Also, you have to be least bothered for shipping, returns, storage, packing, and also handling customer queries. You as a seller just need to ship your products to Amazon fulfillment center and create your product listing on Amazon store. Rest everything will be taken care of. When listed as a seller and sales are made, you will start receiving your share of proceeds weekly. It is a win-win situation for both entrepreneurs as well as for Amazon for generating revenue and brand recognition.
Virtual Reality (VR)
In simple words, virtual reality is giving the user a realistic sensory experience in a virtual world. The present era of digitization has huge potential for virtual reality and it will act as one of the driving forces in the near future. Its uses are practically boundless and hence has a broad scope of horizon. If you are still wondering, how is it possible? Please check out the list below:
- Gaming: Virtual Reality is a revolution in the gaming industry. Virtual Reality titles are released almost on a weekly basis.
- Movies: Without Virtual Reality, Hollywood movies, action, cinematic photography is next to impossible. Movies that we see today are developed using 360-degree virtual reality (VR).
- Business Training: Virtual Reality will definitely increase the level of engagement and also give a better learning experience in business trainings. Ex: United Parcel Service (UPS) businesses are launching new training programs using VR.
- Meditation: The best and ideal use of VR is customized meditation.
- Real Estate: Just imagine if you get a chance to take a VR walk through of your dream home while sitting on your Sofa. It will indeed be a wonderful experience, right? Well, That’s the magical world of VR.
- Online Interaction: Connecting with your friends, family, peers, relatives in virtual online space will bring you closer to your near and dear ones.
Co-working Space
In simple terms, coworking space is a business model wherein individuals, as well as, teams can work independently or collaboratively in a shared office workspace. With the rising trend of startups and entrepreneurs, number of people who prefer working as freelancers, work from home opportunities are also increasing day by day. Herein, Coworking spaces come in the picture.
It procreates a workspace environment just similar to a well-established venture. Your revenue model doesn’t end here, as it can also act as a place to organize conferences, seminars, workshops, and the list goes on. My dear friend, there is still more in the kitty as other revenue sources include partnerships, memberships and can also act as virtual offices. This business model has gained popularity as it is very cost-effective for startups, helps in building good networking, gives the flexibility to work, and yields higher productivity.
Meditation
An innovative business idea which has become the need of the hour nowadays. As people are becoming more and more health conscious and are living life in stress, Meditation is the best medicine for digital age stressful souls.
You would be surprised to know, that the keyword meditation has approximately 8,23, 000 monthly searches. If you are worried about your end users, and massive audience then your wrath of worry is far-fetched now. This business idea works best with an application. Other products include meditation products like materialistic objects which create sound vibrations of “Om…,”, meditation eBooks, profitable blogs, YouTube videos, and much more.
Fitness
“A healthy mind resides in a healthy body and soul”
In the current era, whether you belong to millennials, young generations, or senior citizens, everyone has become a fitness freak. The masses keep an eye for tech-savvy fitness options like a mini smart-watch, stylish yet efficient and sleek designed earbuds, fitness applications, and so on.
Fitness awareness is spreading like an unstoppable healthy virus which gives you best health in return. Fitness has become the present definition of a healthy lifestyle. People have started including 1-hour work-out in the form of Yoga, Zumba, walking or any other activity in their day to day schedule. Further, people have also started adopting healthy dietary patterns. So, this is another business model that will be booming in the coming years.
We understand that as a budding entrepreneur, you have to travel on a rough road with patches at every twist and turn. Henceforth, here’s our goodie bag with business plan samples for every sector. Every business plan differs from each other due to distinct industries, sectors, and sub-sectors.
So, you name any ABC industry, XYZ sector and we can provide your business plan sample. Isn’t it amazing? Don’t miss this golden opportunity and check out our product section