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Your Next Small Business Opportunity Could be One of These 5 Ideas Featured

Your Next Small Business Opportunity Could be One of These 5 Ideas "Turn Ideas into Reality! A motivational sign in a Co-Working Space. "

With so many opportunities out there, it is always hard to settle on the best idea to invest in as an entrepreneur. It can be challenging to figure out where to put your money and an investment worth pursuing. Although jumping on a new trend can be risky in many instances, it can also be rewarding if you focus on what you love. The best business ideas are those born at the intersection of strategic thinking, passion and right timing. Your next small business opportunity could be one of these five ideas:

  • Dropshipping

With the e-commerce industry increasingly booming due to COVID-19 restrictions, perhaps now is the time you started thinking about offering e-commerce services yourself. This doesn’t mean that you have to keep a massive inventory of goods. Instead, you can be a link between the supplier and the consumer. This is what dropshipping essentially is all about. With dropshipping, people with e-commerce websites go to a third party to fulfill customer orders. The third party is a wholesale retailer or a manufacturer who runs warehouse and shipping activities. You don’t have to invest thousands of dollars to start this kind of business. Instead, you just need a website and a few other tools, and you are set.

  • Teaching online

This comes second on my list because education has been affected by the pandemic, just like shopping. The high demand for online education means that you will always have something to teach people. As an entrepreneur, you can start your own venture by teaching people things such as computer applications or computer software. You can decide on any other subject that you love and are knowledgeable about regardless of your location. For example, if you have advanced knowledge in English, French, or Mandarin, you can teach non-native speakers. As your business grows, you will get many people signing up for your teachings, and this can earn you a lot of money in return.

  • Digital event planning

Even planning is highly in demand nowadays. With this in mind, one of the best business ideas that you should consider starting is opening up a digital event planning agency. Here, your work will be to plan, organize and even report on digital events such as webinars and online summits to different companies. You can make money by charging a specific amount for the services and selling sponsorships, among other things. If you have a passion and expertise in this area, this is something you need to consider.

  • Application development

App development is one of the most profitable ventures in the world as we speak. This is the case because so many organizations are going digital and require applications to handle various aspects of their operations. Accordingly, the cost of starting an application development venture has significantly dropped, and so have the tools needed for this business. This means that you can start your app development journey with a small amount of money and skills. With many software platforms such as Sketch and CoreAnimator, you can easily create mockups before publishing your apps. You can charge a premium or include in-app purchases in your application.

  • Freelance copywriter

If you know how to play with words and make a reader interested, this might be the right business for you. You can establish yourself as a freelance copywriter by looking for clients and helping companies and individuals write blogs, web content, technical documents, and plenty of other write-ups. With SEO knowledge, your value will go up overnight, and you can even start an agency where you hire people to write for you. Most freelance copywriters charge up to $50 per hour for their services. 

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Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

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