The advancement in the internet world has democratized the entrepreneurial journey. From virtually anywhere in the world, individuals launch viable business having the ability to create a million bucks every year.
Making it in the business industry is a challenging task for everyone. But you have to prove your potential and walk over the steep learning curve to reach the pinnacle of success. You should have the vision to foresee the obstacles and learn from your mistakes.
If you have the drive owning a business and want to become your own boss, here is the list of the emerging industries that will make millions in the upcoming future:
You must have heard about cloud computing players like Amazon Web Services, Microsoft Azure and Google Cloud. The adoption of cloud counting is still growing because every other business is migrating to the cloud. But, there are many emerging technologies that are ready to overpower. Edge is one of them.
Edge computing has become a buzzword in the IT terminology nowadays. It is super fast computing that is done at or near the source of the data.
The best part is, it does not depend on the data cloud to drive solutions. Edge computing is specifically designed to solve some issues to bypass the latency caused by cloud computing.
The industry drivers include:
● iPhone having secure and privacy features that include storing the biometric information.
● Google Clips camera that records clips when there is something interesting.
Nowadays, almost everyone has a smartphone in their pockets and health trackers on their wrists to give them an idea of how their body is performing.
The new demand for technological solutions is extending towards other spheres, one of which is babies. Start-ups have managed to create innovative solutions for fertility, breastfeeding and infant sleep.
Integrating technology with new products has become easier than before as there has been a growth in the development of the solutions that help women get pregnant and track their fertility.
The only thing that is important is that entrepreneurs should have an idea, whom they are trying to reach and what are they offering. This will include both marketing and technical skills.
Games are no longer only for entertainment as now they can be used to treat patients. For startups, this is a great opportunity to invest in a business that educes the patient’s dependence on pharmaceuticals.
The technology has the power to meet certain needs across various conditions. The products include software programs to make asthma and COPD better, serve as an adjunct to the outpatient treatment for substance abuse and treat pediatric ADHD.
Start-ups will have to develop software compatible with mobile apps to navigate the healthcare environment. 30 digital apps have already been approved and many others are looking forward to investing in this business opportunity.
When you attend a wedding, conference or work party, you are likely to see a selfie stick. There is something new you will now see. A photo stand equipped with camera, props and a wrangler to make sure the shot you have taken is right. The technical, simple to use system gives control of the shots allowing many people to fit in the frame.
Entrepreneurs must be tech savvy and should thoroughly understand the software. Building hardware for this is a bit daunting. Moreover, physical inventory & camera equipment quality should be highly reliable for making this business worth millions.
Starting a business requires a lot of investment. So, if you are looking for a cost-effective solution, choose the road to outsource.
Because this strategy is effective, most businesses prefer to hire offshore developers rather than setting up an in-house team.
● Well, hiring an expert for the in-house team is a tiresome process. It requires you to post/promote job requirements, screening applications, conducting face-to-face interviews, etc.
● On top of that, you will need to set up an infrastructure and arrange the required tools for your team to work.
● Technology is ever-changing, therefore, there’s a chance that after some time, you may have to spend some money on your employees’ training.
● If you are living in the USA, Canada or Europe, you know how expensive it is to hire experts that can deliver quality results.
But when you consider outsourcing, you can avoid all the challenges mentioned above by just getting in touch with an offshore development team.
While technology has the ability to lower the barrier so that anyone can enter in the entrepreneurial journey, tons of ideas have been turned into reality. The above-mentioned ideas are not only a good way to make a million bucks but to also make a huge difference in the world.
4 Business Ideas for Entrepreneur that are Worth Billion! was originally published in Marketing and Entrepreneurship on Medium, where people are continuing the conversation by highlighting and responding to this story.