With the world shut down, opportunities have sizzled down and companies have laid off their employees. More and more are realizing the self-employment is the way to go. If you are looking for ideas to work on or create a business out of, well then you are at the right place. Let’s take a look at small businesses to start in 2020. These ideas are for everyone but not high valuation ones. These won’t get you listed on the stock exchange, however, if you work hard you can grow and make a decent living out of it.
Start a blog
Starting a blog is one of the most creative ways to have a side hustle going on. If you are consistent and focused you can generate good traffic. You can then monetize your blog using various methods. A few of the most popular ones are:
- Display Advertisements
- Affiliate Marketing
- Sponsored Posts/Reviews
- E-Books
- Sell Online Courses
However, this marketplace is extremely competitive. A blog takes several months to generate a good income. Monetization methods can not be immediately implemented. It will take a while before you are able to attract good traffic. Also, it takes time to get ranked on Google and appear on the front pages. This is more dependent on how good your Search Engine Optimization (SEO) is.
Pick a niche, post consistently and do solid SEO. Above all, be a little patient.
Ecommerce & Dropshipping
When it comes to starting a business, Ecommerce has completely changed the outlook of the global industry. Worldwide Ecommerce sales in 2019 were 3.5 trillion dollars. This just shows how viable this option is. Yes, you won’t be competing with Amazon but you’ll be making a good number of sales.
Starting an online store is very easy these days, thanks to platforms such as Shopify and WooCommerce. These are very simple to use and you do not need any advanced skills. You can build, select themes, customize it and start selling anywhere to anyone.
Most importantly, however, is the fact you do not even need to own a product to start a dropshipping business. You can simply connect with suppliers through websites such as AliExpress and add them to your stores using services like Oberlo. With just a little effort and strategic online marketing, you can launch and establish a highly profitable business.
Drop Servicing
No, this is not drop shipping. However, it is very similar. It is a business model where you sell services instead of physical products. You can provide these services through a website or social media platforms.
You can pick a niche, or provide a range of services. However, in drop servicing, you do not have to do the service. You can simply hire an individual or a team from social networks or freelance websites. Your job is to market your brand and earn a profit from these services. This is the latest trend in the business world, requires no investment and can be really profitable if executed the right way.
Home Kitchen
If you love cooking or if you know someone that does, you can start a home kitchen. There is a huge market out there, especially during this crisis. People want to eat healthy food and spend less. Which is why there is a huge demand for home-cooked food.
You can easily set up a home kitchen. Decide on a menu you think will do well with the audience. Give your kitchen a social media presence and spread the word. The orders will start pouring in, in no time. Moreover, you can register with delivery services to ensure your orders are delivered efficiently. You can turn this into a good profitable business if you manage well and are effective with social media marketing.
Freelancing
You can set up an entire business using freelance platforms like Fiverr and Upwork. Have more people with different skills join you in this venture. Start freelancing with this team and build your reputation slowly and gradually. Over time, you’ll make a name for yourself, and orders will start pouring in. As you land more clients, you will be able to expand your team and turn this venture into a really profitable one. You just need to be good at what you do and make an effort to stand out.
Digital Marketing
This is my favorite pick from businesses to start in 2020. The importance of the internet is growing each day. Businesses find it hard to make sense of all the channels and handle their digital marketing. Which is why they outsource it. This is where you can come in. With a lot of companies surfacing through this crisis, there is a lot of demand for digital services. If you are familiar with social media marketing, SEO, running ads, web development and more, you have a massive business opportunity at your hands. You can easily set up a home agency of your own and land clients. Even if you are not skilled at this, you can always learn through online courses.
Also read: Benefits of social media for business
These were 6 small businesses you could start in 2020. Remember, you should start a business you would be interested in and would be good at. Your business will only be successful and profitable if you like what you are doing.
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Useful and great tips. A beautiful design of the blog too. Thank you for sharing!
Regards,
Akshay Toshniwal
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Like!! Really appreciate you sharing this blog post.Really thank you! Keep writing.