Are you searching for the perfect business idea to work on in 2020 but can’t find one yet? Well, starting your journey as an entrepreneur requires some serious brainstorming. It’s the idea that sets you apart so make sure to give it enough thought. All you need is a bit of inspiration. It is the first step of starting a business and most difficult one to be sure, but once you do, you’ll be able to grow your business into a successful venture in no time, given all the resources and efforts. To get you moving, we’ve compiled a list of trending business ideas to get your creative juices flowing.
Before we dive into the top 4 business ideas though, let’s take a look at why you simply must make time for your own business and what you need to get into it. Here are some often asked questions:
- How do I start my business with a tight budget?
Starting a small business doesn’t need a huge bank account to back it up. Your business can be your side hustle while you earn on your permanent job. You just need an idea and conduct full-fledged research on the market and consumer base you’re targeting. Develop a solid business plan, and draft out how much money you’ll need to invest. You can depend on loans and crowdfunding platforms as a last resort.
- Is starting an online business from home a good idea?
Home-based businesses are the most convenient type of businesses to own. They’re easy to manage and execute. However, it all depends on what type of business you’re running since not all business ideas can be executed from home-offices. If you’re planning to run a home-based business, make sure the idea can be operated from home.
When developing your business plan, make sure to include the resources and tools you’d need such as a desk, personal desktop, high-speed internet, cabinets stationary, and servers or website equipment.
With that said, let’s dive into all the business ideas you can get into!
1. Virtual Assistant
Living in a technologically advanced world, people have come up with new innovative ways to stay in the loop and earn! With stable access to the outside world, a virtual assistant or VA can do so much more than just take calls and schedule appointments. They work on organizing your social media posts, handling accounting and correspondence, creating records, and building a rapport with you and your clients.
The best thing about this business idea is that you have all the flexibility you need working from home. The daily rates of VA have gone up ever since the coronavirus turned into a global pandemic. The industry is always fond of newcomers. If you’re organized, tenacious, and headstrong with boundaries, this might be the job for you. You’ll need a laptop, a solid internet connection, and a backup facility.
2. Digital Marketer
As many businesses and organizations are cutting back on staff, they’re more open to outsourcing their social media management. Starting a freelance digital marketing business might be your breakthrough in the industry. Since everything has gone online, people are looking for help. You could start by finding clients and building a portfolio. If you have access to social media management software and CRM software, a solid internet connection, and your laptop, then you’re good to go.
3. Freelance copywriter
If you have a way with words and a bit of marketing knowledge, you can get into the marketing industry as a freelance copywriter. Whether it’s web content, blogs, or press releases, you can build your portfolio and pitch your clients step by step. Many freelance writers charge $35 to $50 per hour, depending on their experience and area of expertise. It’s a solid business to run. You only need a stable internet connection, and you’re in.
4. Online Teaching
If you have sufficient knowledge in a specific area and a reliable internet connection, you can opt for online tuition. CenturyLink internet service offers high-speed internet enabling you to share videos and use Zoom seamlessly. Online tuition is a great business to run in 2020 since everyone is studying and working from home. You can make your own YouTube channel and make videos sharing information on whatever’s your passion. You can also conduct online classes and start a teaching course. It could be exercising, music, art, or SAT classes.
About Caroline Eastman:
Caroline is doing her graduation in IT from the University of South California but keens to work as a freelance blogger. She loves to write on the latest information about IoT, technology, and business. She has innovative ideas and shares her experience with her readers.