If you’re thinking of going into business, I guess your idea is to create a profitable business, right?
But how do you know that your idea will be a success? is any kind of business OK to start? are those that follow the “fashion” really profitable businesses? are online businesses the future? and what about traditional businesses?
How many doubts!
Starting a successful business
We live in a society that is constantly evolving and changing, so we must know how to adapt in order not to become obsolete; and this is true for both people and businesses.
When you start a business you have to take into account all the elements (or at least the most important ones) that influence your activity so that we know how to react to them.
In my opinion, there are three main elements to take into account to increase the chances of success of a business.
- The socio-cultural and demographic changes, cause new needs to which your company must know how to respond quickly and effectively.
- The new technologies that can be incorporated into your company, to try to give a faster response to consumer needs.
- Globalization and its advantages, both to find good suppliers and customers anywhere on the planet. Therefore your business must be competitive and global.
Taking into account the three elements above, we can already get an idea of which businesses are booming; businesses that are succeeding in recent years.
If we look at our city, we see how there are new trends, what we were saying about socio-cultural and demographic changes. This is especially noticeable with the appearance of new businesses with different themes.
There was a lot of talk when they started making them. The idea seemed to be taken from some movie. But nowadays, they’re commercialized, and anyone can have a drone… well anyone who can afford it… and anywhere in the world.
I remember when I was in Vietnam, we went up to a lookout point and there was a drone! Yes, a tourist had brought his drone to make videos. I thought it was incredible, but at the same time I have to confess that it was very noisy and a bit annoying.
But regardless of this, drones are marketed to the public and also used by companies, for example Amazon.
booming business drones
A few months ago I went to a 3D printing exhibition at Fundación Telefónica in Madrid. It was impressive. The truth is that I had no idea what was already being done with 3D printers.
In this exhibition there were toys, models, prosthesis, jewelry, shoes, household items (chairs, vases, etc.) and even clothes. All this in different materials and using a 3D printer.
For me this was a clear example of how new technologies have led to new businesses, real booming businesses. In this case, good quality products are obtained, avoiding the generation of large amounts of waste, at lower prices and can also be used in different sectors.
Until a few years ago when we were talking about virtual reality, it sounded like something we only saw in movies, didn’t it? But now you can see that it’s within everyone’s reach, and it’s becoming more and more mainstream.
Virtual reality has developed especially in the video game industry. However, it can be included in more sectors.
In the coworking space where I work, there is a company that designs virtual reality glasses, and in recent months they have gone from having 3 employees to 6. Not only is it growing in size but it is also creating technological advances that are beneficial to society.
Do you have a smartphone, how many apps have you downloaded?
Technology is advancing and companies know it very well. That is why they have made the smartphone their best ally to reach consumers, communicate and especially to increase their sales. Through the development of applications they make it easier for users to access information, content and their products.
But in addition, there are applications that have been created to facilitate some day-to-day tasks, or simply to keep us entertained. For example: applications for personal management, health control, notes, photo editing, social networks, there are also apps to earn money, etc.
But why is developing apps a booming business? Because it’s within everyone’s reach. With proper training you can learn a lot about development, and without the need to belong to a company you can start developing some application to be marketed, either directly to the end consumer or to companies.
By this I don’t mean it’s easy, no. You have to dedicate time to training, to develop an app that solves a problem, to update it and correct errors and then think about marketing it. Usually you start with a Beta version to test and verify its operation.
My recommendation is that if this interests you, and you have some idea of an app, you can apply for grants, investor support or create a project in crowdfounding.
We changed the scope, but that does not make it any less important. The food trucks.
What are they? This term is used to talk about large vehicles, usually trucks conditioned to prepare food and sell it. It used to be associated with fast food, like hamburgers, fries, snacks. However, in recent years you can also find gourmet food trucks. Also with the use of social networks, they have become very popular.
In Spain, for example, at events, concerts, fairs, etc. you can see food trucks specialized in some type of food and recognized by them. And there is no lack of those belonging to well-known restaurants, which have not missed this opportunity either.
Although this profession is nothing new, it is one of the booming businesses that is going strong, as it covers the social needs of a part of the population.
The beard trend is here to stay, or at least it looks like it’s going to last a long time.
Men have seen many benefits from wearing one, especially looking more manly, attractive and stylish; this is stated by the El Mundo newspaper supplement, elbuho in this article.
In fact, we see how new places dedicated exclusively to the care of beards have opened, such as barber shops, and some have even created a chain of franchises that are distributed in several points of large cities.
This is another example of a growing business that covers certain needs of the population produced by social changes.
Bicycles are a perfect gift for children, but also for adults.
Society is changing, our concerns are changing too. Now we are more worried about pollution (it is becoming a serious problem), we are worried about our health. For these and other reasons, we look for alternative transport or simply it becomes a good activity to do outdoors.
Everything related to bicycles has become a booming business. Whether it’s selling, repairing or renting, especially in the big cities, where, following the example of other pioneering cities, bicycle lanes have been made available for safer riding.
Beer lovers are in luck, there are more and more places with a great variety of craft beers.
This is a booming business, which does not especially need technological advances to be growing. But if it is a product that despite the years, remains a favorite drink for many people.
I’ve said it before, we’re worried about our health and more and more.
You’ve probably seen the organic section at the supermarket, right? Even private labels now have products in this category too.
The name of these products means that they have not been treated with chemicals or pesticides that are not natural, that they have been cultivated respecting natural cycles and that they are not transgenic (genetically modified).
The sale of bio (biological) or eco (ecological) products has increased. This is another example of growing business that can be seen in many cities in many countries.
Low-cost products or services
Who hasn’t seen the words low cost somewhere?
I’ve seen them in several places: gyms, hairdressers, clothing stores, bars, airlines (of course), etc.
Low cost products and services have become a real booming business in many cities, as they allow consumers to save. However, the benefits and sometimes the quality are reduced, for example in the case of airlines you have to pay for checked baggage or some snacks.
If you are thinking of starting a business, you could consider this alternative. The main idea is to get more customers to buy your product or service, so that your profit margin is profitable.
Products and services for pets
The dear pets, they’re just so cute.
In other articles I have already talked about how important pets are to families, and that is why I am concerned that they receive the best care.
We are seeing more and more businesses related to pets: hairdressers, accessories, hotels, nurseries, training schools, etc. Many of them already existed, but now they have reached the Internet and this has contributed to their expansion.
Some start-ups have seen this sector as a business opportunity, and they have not been wrong. For example, platforms such as Holidog or Dogbuddy, which specialize in finding pet caretakers, trainers, walkers, etc., are present in different countries.
Booming business: Conclusions
Finally, I’m going to tell you about the experience of a wine producer I met yesterday. He inherited his grandfather’s vineyard but had no idea about wine when he started. He has only been in the business for 3 years and he does everything (or almost everything) with the help of his wife, from taking care of the field to looking for customers, everything. He told us that these years he has not had any holidays, but he has learned a lot about wine, about taking care of the field and he proudly presented the wine he has obtained, telling the story behind each one.
I am telling you this, because creating a business, of any kind, requires a lot of effort. I’m not going to lie to you, you’re going to have to sacrifice time or money, or both. You’re going to have to learn, research and update yourself constantly. You’re going to have to do tasks that you didn’t know about before. Maybe the ideas in this article aren’t for everyone, I know. But knowing what businesses are booming now will guide you to what you can do and what you can offer people to succeed.