Future ideas that are lucrative and future-proof are hard to find

If you are someone with a small to medium amounts of capital and looking for some profitable business ideas in 2020, you’re at the right place!

This blog serves as a guide to those who set up a business only to face failure. The top reason why it happens is that most of them don’t do thorough research before diving in. There’s a fair chance that the business you plan to establish is NOT needed in the market either because the market for that is already saturated or because it doesn’t solve the problems faced by people (your customers).

OUTSOURCING – this is the #1 business and the trend for this will only go up with time. It’s safe to say that this idea is future-proof at least for the next decade. Outsourcing is where you win a project and then hire people (preferably from developing countries due to lower operating costs) to work on it.

CHATBOTS – some 10 years ago, every business needed a website. 5 years ago, every business wanted an app. Now, every business big or small wants a chatbot to communicate with their customers, take feedback, gather data, and market better. If you’re a programmer or have some capital with you, hire coders who could create chatbots for you.

INTERNET OF THINGS (IoT) – IoT business has the potential to reach about $12 Trillion by 2025. The reason why some of the most profitable business ideas belong to IT is that the era we are living in revolves around the internet and connected devices. Talk about smart thermostats, drones, autonomous cars, smart toasters – all of these are IoT devices. Think better, generate ideas, and invent something in this domain!

 

Article by British Thoughts

 

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