So, You want some New best small business ideas which work in 2018 .??
Let me tell you something, you are not ALONE. Each and every person on this planet has at least once in his life thought of New best small business ideas 2018 or has tried his luck with a start-up. The dream of making tons of money and creating a business empire for themselves has left no one, whoever in his entire life has not been fantasized by this dream. But when the people who are serious and are willing to sacrifice their comfort and cozy life, dig deep into this, they eventually found out that they didn’t have enough money and a fact that
“They need to start with a small-scale business module”
Some of the people who had unrealistic expectations like to earn millions within a short span of time kicked themselves out of the race after this realization. Others who were serious and were practical as well knew the advantages of starting with a small-scale business model.
So let’s begin.!!
The small business ideas which I am going to share with you will contain some features in common which are as follow /-
- Easily scalable (if hard work is done)
- Requires some amount of skill
- Requires some or no capital
- Doesn’t require too much of planning
- A sustainable loss in case of insolvency
- Limited risk factor
New best small business ideas 2018 (Proven)
Digital Marketing (New best small business ideas 2018 #1)
Not a long ago, say nearly a decade ago if someone was to think about taking Marketing as a career, the response one would get was 90% filled with anger and statement that the career is not at all stable. And I agree with that partially. Earlier Marketing was all about going from one place to another, generating leads or customer, or spreading awareness about your brand. The pay that these salesmen got was not at all handsome, to say the least. At that time nearly all the professionals who were working in this area had one or several factors which forced them to do this hard job, unless and until someone possessed an exceptional art of marketing and influencing human nature.
But eventually and thankfully internet grew at an ever-increasing pace which leads to the birth and growth of various social media platforms and search engines, which later developed their own advertising platforms for both publishers and advertisers. For example, Google has Adwords and Facebook has Facebook Ads
Now everyone wanted to go online and increase sales by creating a website of running ad campaigns online for the fact that, countless number of people were online which contained their target audiences as well. To do this more effectively, professionals emerged in this field whose main aim was to run online campaigns according to the needs of their clients and decrease the cost of acquisition of a customer for their client as much as possible.
At first, the scope of this field seems too narrow, but it is not at all true. The fact is that the job of a Digital Marketing professional is as complicated as any other job in the world. There are numerous factors which one has to keep in mind while being in this field like which is the best platform for the need of the client, how to decrease costs, how to optimize, how to generate leads etc. This is a career which can be rewardful if one acquires the related knowledge, skills, and experience of how things actually work here. The amount of Digital Marketing Institutes are countless nowadays. Some of them being /-
To make things better some of the renowned bloggers who have proved themselves in this industry, are also offering their own courses and that too at a much lower price as compared to big digital marketing institutes. Digital Marketing as a field, is so much broad that it contains certain elements which are considered fulltime careers in themselves. For Example /-
SEO (Search Engine Optimisation)
It means correcting all the things in a website which leads to getting an upper rank in search engines of a search engine (Google in most cases).
Social Media Marketing
It means handling all the social media accounts or brand or an influencer. The main aim is to increase the reach through that account and increase the fan base.
It means to write content that is well-optimized for search engines and is made to rank well. Some people also work as a freelance content writer and charge paisa per word.
The advantage of taking Digital Marketing as (New best small business ideas 2018).
Unlike some of the other businesses, to start this at a minimum level all you need is an internet connection and a laptop( PC). Or a little bit of money if you want to start some online campaign. I say a little bit because FB Ads allow you to run a campaign at a minimum of 40 RS a day.
You can be your own boss here, in terms of what time you want to work. Whether you want to work 24/7 or want to work at some odd hours, you can easily do it your way.
Requires no Professional Degree
As such, there is no compulsion that you need to get a professional degree or any kind of thing like that because you can gain knowledge from the web itself and start your career in this field. But getting a degree from a good Digital Marketing Institue is recommendable.
As we know that internet is still growing and it means that demand for professionals who can market anything online will rise even more.
If taken seriously and given proper time and attention, one can scale this business to large scale by forming a Digital Marketing Agency which helps its client’s by achieving their goals digitally.
So Digital Marketing can be an option for New best small business ideas 2018
- Software Development and Engineering (New best small business ideas 2018 #2)
As we know that the world is changing with AI (artificial intelligence), more and more advanced AI are being developed in hope of taking automation to the next level. Some of the worlds most influential persons have also admitted the importance and how AI is going to change the world and have also predicted the huge demand for it. If we go into the subject a little more deeply we would find out that AI is just a combination of codes which runs with the help of software. This must have given you an idea of how large the scale is going to be for the demand for Software Development and Engineering professionals.
A software developer is a professional who puts all the effort to make the code for a particular application so that it can run and the guy who tests maintains and looks after the application is known as Software Engineer.
Now just see around yourself. Arent, you surrounded by gadgets?. Most of the gadgets you see around you are running on AI, whether it be your smartwatch or smartphone. People also have a misconception that Software Developers are not creative people as they just work with their own predefined set of codes, but they forget that building anything new(Software in this case) requires a mind which is able to think outside of the box, for things like product looks, user experience, sustainability etc. They also have to apply a countless number of permutations and combinations to make one piece of code work properly.
Let’s understand the duties of Software Developer briefly
Analyze and Test
They first try to understand the exact things which a customer wants from the application. After that, they create, run, test and find out that whether the software is working properly or not.
We know that technology moves at a very fast pace, it makes it necessary for Software Developers to constantly make changes to their earlier made software and keep upgrading them with present times for their effectiveness and efficiency.
They also keep a good record of all the codes they used in their earlier software as it is very beneficial in future if any maintenance work is to be done or of any problem occurs.
They also try to collaborate with other Software Development companies (if terms are favourable for both of them) to build a product which is the best till date because, it is obviously beneficial for both the companies if resources of both come together and work on the same project as more people work so more viewpoints can be considered. Also, it is easier to get funds in such a case.
Educational Requirements for Software Developer
It is generally seen that most of the companies require at least a bachelor’s degree in the field of software, computer science or any other computer language. Students are always adviced and motivated to work in actually building up and execution of codes so that they can get the experience of practical work. An internship is also another very popular way by which students can gain real on field experience. Students are also told to be updated on latest tools and advancements related to the field of coding. Also, other than the knowledge of coding and all technical stuff they are also expected to have a knowledge about the requirements of the industry they are working in. like if a Software Developer is working for the hospital then he should be clear that on what are the requirements and goals that the hospital wants to achieve through that particular Software.
This can be very well considered as New best small business ideas 2018 as it is easily scalable, a firm can be formed which provides these types of services. Respect is also given by the society as it is a technical field and people can identify that Software Developer is highly technical and educated persons.
- Virtual Reality (New best small business ideas 2018 #3)
So before beginning that how it can be a best small business idea 2018 we first need to understand that what actually VR is. VR is a process in which an artificial environment is created but it seems pretty real. As the name suggests, with the help of this technology we can create reality but on a virtual basis. A user can get all the experiences which he would have got if he would have been there in the same situation in reality which is created by VR in artificially.
Now to understand that how much the demand is going to be for VR Industry, we need to consider what are the industries which will be benefited from the use of VR.
Uses of VR in different areas /-
Some of the major problems which can be treated by VR are social anxieties or phobias of things like flying, public speaking, or heights. Let’s take public speaking phobia for this matter, now to treat this an artificial environment is created where the patient is compelled to and experience the things (public speaking) which he is afraid of. Also, doctors are benefitted by the fact that they get to know in which way the patient’s body is going to react in a particular situation.
This is undoubtedly one of the most lucrative and big industry for VR. We as consumers came to know that there is a technology exists like VR only through the entertainment industry. A simple 7d movie is also an example of VR. The other thing that is coming up is the creation of concerts through VR. If you don’t prefer too much of noise and you hate going to crowded places, then definitely VR concerts is the thing for you. It helps you to create similar experiences which you will get by going to a real concert.
After seeing the automotive manufacturer Ford, other companies like Toyota and luxury car maker Audi has also decided to take advantage of VR, in development and building process of their prototype cars. This gives them an idea of the feeling that their cars are going to provide and also results in the saving of time, which was otherwise to be wasted in the building of the prototype. Safety in automobiles will also be upgraded to next level after the use of VR.
Use of VR in this space will be very beneficial for children as they would get the chance to see that how a complex mechanism works or any subject they want to get knowledge of. The teachers would also get the benefit, as it would take much less time to perform their duty in making students understand. Subjects which are highly technical or requires very detailed study, could be easily understood with the help of VR and be getting a chance to create an environment virtually.
Like in the other options mentioned above as New best small business ideas 2018, this idea is also scalable as the demand is going to rise in near future. You can start your career as a VR developer by joining professional courses online or by joining any renowned institute.
- Smartphone Repair and Smartphone Cover (New best small business ideas 2018 #4)
I don’t think that I need to tell you that how big is the demand for these things is. Hardly you will ever find a person who doesn’t possess a smartphone. The craze for gadgets like iPhone will also be beneficial as if an individual buys an iPhone for say 1 lakh, he will happily agree to decorate and protect his mobile with an expensive cover. The demand can also be predicted by the fact that some areas in New Delhi have full-fledged markets related with mobile phones itself. Majorly people think that the people who repair mobiles earn by only repairing screens, it is true but to a certain extent only. Yes, it,s a fact that about 60% to 70% phone damages occur due to the breaking of screens or faulty screens, but there are other factors also like faulty speakers, felling of mobile accidentally in water, viruses or something like that. People with no experience can also start this after getting phone repairing knowledge. However, getting some experience will always work in favor. To start with, one can repair mobile phones of friends and family(everyone has some of these defected pieces) to gain confidence and trust.
Before starting a Smartphone Repair and Smartphone Cover shop
Getting a course
It is highly recommendable that you should get a related course done before starting a business which requires you to work on complex things. While you can get this knowledge by working for someone who works in the same field but getting the course done gives you much more credibility. However, this knowledge can also be obtained through videos and educational websites on the internet.
Location of the Shop
You need to look for a location where people are able to see your shop, it should not happen that your shop is situated in a remote area, that way this idea is not going to work as you would not be able to generate any or much customers. It is also recommendable that you choose a location near some posh areas then it would mean that the majority of people who would come into your shop would be willing to spend any amount. This way you can also sell MobilePhone Covers, in that scenario the profit margins for high brand phones like iPhones are huge.
Connections with Dealers
As it is pretty obvious that to repair mobile phones in most of the cases we need parts, authenticated ones. Being in connection with good dealers who can provide parts of all brands and that too at a reasonable rate is very important. But we also need to get some local parts sometimes as it is can happen that customer doesn’t want to spend too much or that particular authentic part isn’t available. Having good relations with dealer also increases customer satisfaction as it reduces the service repair time if parts are provided as soon as possible.
This can also be considered as best small business ideas in 2018 because it can be easily taken on a large scale as the demand is not going to end. With the introduction of JIO, getting a mobile phone at cheaper prices has become easier for the poor also, hence increasing the market and demand of this industry. It is also recommendable to get some knowledge of Digital Marketing, as it can also help in boosting up the revenues by getting more customers and creating brand awareness digitally.
- Wedding Planner (New best small business ideas 2018 #5)
Big fat weddings have taken all over, which means the people who are well to do, spend limitlessly on their weddings. Whether it be a recreation of Paris or inviting of superstars and singers to perform on their special day. I shared this side of Wedding Planning first so as to give you an idea of how scalable this idea really is. Now let’s start with minimalistic first, to begin with, you can start by doing a job in the same industry. With this, you can gain experience, and believe me its not a difficult thing to do. I say this as this industry doesn’t require any minimum qualification. However, a degree in Event Management is advisable. You can reference from a Bollywood movie named “Band Baaja Barat”, it showed the same thing and how they grew their business, and it is quite possible and didn’t seem too unrealistic. The chances of earnings also increase by the fact that in INDIA whether it be a rich or a poor person the amount of money that he spends in weddings is huge, irrespective of the fact that whether he can afford it or not. Also, in a country like INDIA people here don’t have only one function of the wedding but they have at least 2 to 3 functions pre and post-wedding like Sagan, Mehendi, Reception etc.
Traits you should possess before starting this as a career option.
Good Organisational Skills
This is pretty obvious. This is a field where no manufacturing is being done but you are providing a service by basically managing all the things. Managing requires dealing with a countless number of people on daily basis, hence it is very essential to have good communication and organizational skills to tackle everything at that very particular moment. If not done so it will lead to mismanagement and will create a lot of chaos.
Attention to Detail
The person who is spending lakhs of even crores of rupees requires his wedding planner to be perfect and to deal with everything calmly. It means that even smallest of things can chaos, being in this industry makes you understand that you need to be perfect with everything, as you don’t know if a particular thing is very small for you might hurt any of the guests. The concentration on attention to detail increases when the wedding is happening on a very large scale. This generally happens in case of industrialists or famous personalities.
Only good communication skills won’t work in isolation but having good Negotiation skills is equally important. The fact is, that as a wedding planner you need to get everything arranged for a wedding and the fact that getting everything right from decoration to the music system, requires dealing with several vendors. If you don’t have a good set of negotiation skills then the cost of the wedding will automatically increase.
Awareness about Customs and Traditions
This is a very basic point, it is the factor according to which all the rituals and weddings are based if anything goes wrong in these areas, you are screwed. Because people believe that if all these rituals are performed well then the couple gets blessings from gods and they stay together forever. The fact that makes it difficult to memorize each and every ritual and tradition is that there are around 20 to 30 various kinds of marriages, each one having their own different set of rules.
Hence I can conclude that Wedding Planner can be taken as one of the New best small business ideas 2018
Food Truck/Cart (New best small business ideas 2018 #6)
So, this idea is probably one of those ideas which would have definitely once come into your mind if you are searching for New best small business ideas 2018. Generally, people who are good in cooking are often adviced by friends and family to open a restaurant or food cart, the reason for this, most of the times is that they could get free food whenever they arrive. In these type of cases, you need to decide firmly that whether cooking is a hobby or is it a deep passion which gives you happiness because in that case it can surely be converted into a business idea. This idea is great also because the food is something with which people connect deeply and most of the foodies are willing to spend endlessly just for their taste. The main thing with getting successful in this field is, you need to develop an item which suits the taste in the area from which your customers are coming. Pricing is also a factor but honestly, it is secondary, the primary factor still remains the taste.
You also need to focus on the fact that how much effort are you willing to put in. Because you need to work almost 27/7 in this business. You must have noticed that these types of successful businesses not only work during their working hours but start working several hours before starting their main business so that they can prepare each and everything before serving.
Things to consider before starting this business
You need to determine that are you really passionate about cooking? Do you really want to keep trying and trying to find the new perfect dish which will skyrocket your sales? The zeal with which you will work and the amount of passion you have will decide the destiny of your business in this area. If the determination is present then don’t worry your taste will bring customers on regular basis, increasing your profits.
I would suggest you that you should focus one kind of cuisine whether it be Chinese, Italian or anything. You may have also noticed that most of the successful food joints focus on one particular cuisine and they do have one major dish that makes them famous and that is the dish for which their food joint is known for. It means that it developing that particular best of a dish is very necessary.
Getting prior Knowledge
I seriously recommend that you should consult someone that has been in associated with mobile food industry or has proper knowledge about the subject. That person can give you proper insights into what are the challenges and how much is the effort that you need to put in before achieving success. That person can not only help you in getting knowledge but also can lead to developing several contacts with whom you can take raw material at reasonable prices. Anyhow, maintaining good contacts with the people already in the industry is always a good thing.
Home Delivery is also another factor on which you need to put focus in. As a lot of food joints provide the facility of delivering the food to their customers at their homes, they generally set up a minimum amount for which the customers can avail this facility of home delivery. Hence it could be said that Food Truck can be considered as a New best small business ideas in 2018.
Financial Advisor/Planner (New best small business ideas 2018 #7)
Thanks to media, everyone nowadays is aware of a term “Wealth Management”. The term focuses on to develop a plan/a strategy so as to get the best return out of investments made. To do this more effectively comes the position of Financial Advisor/Planner. These are professionals who have done a detailed study of past and current market trends are very efficient in advising that what is the kind of investment that can help companies/individuals to meet their long-term goals. As Wealth Management is a very broad and complex term, it becomes necessary to take pieces of advice from these kinds of professionals, before taking any major investment decision. A very good example of how lucrative things can be for you if you have good knowledge of markets and know how and where to invest can be of MR. Warren Buffet (the man who became a billionaire from stock markets).After reading the points below you can seriously take Financial Advisor post as New best small business ideas 2018.
Things to consider before starting out as a Financial/Planner Financial Advisor
Long Sighted View
As it is pretty evident that investing is not a scheme where you can make money overnight, it requires proper knowledge and patience. No matter how good a professional is in this field, he will not be able to make money if he wants to make it with overnight. Having a long-term view also becomes essential not only because investing requires patience but also for the fact that people who seek the help from these professionals have their own financial goals which they want to achieve in the long run, say for a retirement plan or anything like that. This also helps in getting a view that what trends are going to take place in financial markets.
First and foremost need for being a successful Financial Advisor is the mindset, which can deeply and thoroughly understand the financial need of their clients. This mindset also helps clients to get a clear thought of what actually they want, yes it can sometimes happen that clients themselves are not clear about that what financial goals are best for them. After understanding the needs these professionals tell their client that where they actually stand right now and how they are going to move towards their desired destinations in terms of financial stability. This can sometimes be satisfactory for the client to hear or can sometimes also be unpleasant.
As this is a very complex and diversifies field, the people who are referred as clients solely rely on the advice of these professionals, it becomes their duty in return to give an advise which is unbiased and best. Financial Advisors are in regular contact with most of the companies in the financial market, as a result, they can become biased to some of them if they get a financial benefit out of it. To avoid this situation the clients should also do their own research at their own level to find out whether their Financial Advisor is being honest with them or not.
The rates of each and every share for each and every company fluctuates every day. This makes the environment of financial market extremely dynamic. The success is based on the fact that how correctly one can predetermine or predict the share rates of a particular company. This can be done efficiently only if the Financial Advisor is in constant touch with latest happenings in this field. Otherwise, it can lead to worse decisions.
And at last with the growth of things like Mutual Funds and growth of financial market we can seriously take Financial Advisor as New best small business ideas 2018.
At last, I hope that after reading the above article you would have got some new ideas. Do let me know that which one seems the best to you.?
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