According to Forbs, 63% of millennials have ever thought about launching a start-up, preferably an online one. However, the other statistics show that only 3.6% of people under 30 actually own small business in the USA.
These figures are disappointing, especially if compare them to 10.6% of young people that owned a company in 1989. What caused such a shrinkage?
With the rapidly changing technology market, it’s hard to impress users with something entirely new. 99% of ideas you come up with have been already brought to life by somebody else. The more copy-paste start-ups fail, the fewer people dare to make a move towards their dream.
Fortunately, you don’t need to be an inventor to run a successful online business. An alternative way is to hop on the swelling wave of an upcoming trend. To help you identify the most promising tendencies of nowadays, we’ve chosen these 3 sure-fire business ideas to try in 2019. Enjoy!
Create your own social network
Social networks have the highest possible engagement rate among the websites. After waking up, an average person will more likely check their Facebook feed rather than global news or weather forecast. Thus, social media advertising brings billions to their creators.
We all know: an attempt to compete with Facebook is insane. But instead of making a one-size-fits-all network, you can target your site at the narrower audience in a niche that doesn’t have an established online community.
The great example of such a network is Untappd, a mobile-based community of craft beer lovers. Here users can rate brews, discover new beers, and earn badges. Moreover, the app allows you to check-in with friends, start discussions, and meet other like minds online. According to Owler, the estimated annual revenue of Untappd is $5.5M, what’s not bad at all.
There is still room for new narrowly-focused social networks to appear: just imagine how many interests are still uncovered! Moreover, it’s not that hard to implement the basic features of a social media website, if you have a team of skilled web-developers. But even if you don’t, you can utilize a business website builder and customize a ready-made theme instead of building a network from scratch.
Establish a video marketing agency
According to Cisco predictions, videos will account for 80% of online traffic worldwide and 85% in the USA by 2021. This means only one thing: the video becomes a primary marketing tool for businesses that want to scale further.
Now in 2018, we have social media managers, content marketers, SEO experts, and a plenty of other digital marketing specialists that help companies expand on the web. Video marketing consultants are, thus far, a rare species. But since the demand is only expected to rise, you may fill this gap by establishing your own video marketing agency in 2019.
Another video-related start-up may be the development of video marketing software. Take a look at nFusz, a video creation platform aimed at making your videos interactive.
Using nFusz, marketers incorporate clickable buttons so the prospect can proceed to the purchase while watching the video. The tool is quite successful at increasing customer’s conversions since the app can boast of $7.8M of estimated annual revenue.
Develop an IoT app
Disney’s Smart House movie predicted it just right. In the nearest future, we will be able to merge all home appliances into the one smart system and control them via smartphones. And this is only one way to exploit the Internet of Things, a technology that literally connects everything to everything.
As of 2018, there are 23.14B devices connected to IoT. According to the graph provided by Statista, this number will rise more than threefold by 2025 and will comprise 75.44B devices. From smart cities to connected health — more and more IoT-based products will emerge.
That is exactly what we call “to hop on the swelling wave”. In early 2019, you have a chance to design an IoT app before the technology become hyped.
Even now we have good examples of prosperous IoT projects. PetCube is an IoT solution for domestic animal owners that lack time to spend with their pet. A user installs an interactive camera in the house and connects it to the smartphone, playing, teaching, and talking to it remotely. Estimated annual revenue of the start-up is $1.2M so far.
If you doubt that any of these options is a good fit for you, the opportunities you have to spare are almost limitless. Monitor news: every event highlighted in media may pitch you an idea that might grow into an on-demand start-up. For instance, a lot of GDPR compliance consultancy services emerged shortly after GDPR came into effect in May 2018. And what’s stopping you from doing the same thing when the right moment comes?