24 Business Ideas That Could Be Worth Millions – Entrepreneur
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Focus on one of the many problems people have that you could help them solve.
The advance of the internet has democratized admission to the world of entrepreneurship. From virtually anywhere in the world (provided internet access), makers can launch real, viable businesses capable of generating millions of dollars a year.
While technology has lowered the barrier to entry to starting a business, there's still an infinite supply of problems just waiting to be solved. With tons of ideas out there, the primary ingredient for building a startup — besides time and a bit of luck — is execution. You just have to get started. To get you started, here are 24 viable business ideas.
Modern businesses rely on email to get their work done. There are dozens of opportunities to build Gmail extensions that automate parts of a professional's workflow to save time and money.
Related: 20 Gmail Hacks Only Savvy Users Know
Improvement in aviation technology has made it easier than ever to get a drone up and flying over a beautiful landscape or building. The commercial and residential real estate industries are practically begging for more drone videographers to serve their agents and home developers.
Related: Revolutionizing the Film Industry With Remote-Controlled Drones
Companies waste dozens and dozens of hours a week answering support questions from their customers. Help them automate this process by using a simple chatbot.
Related: Top 10 Best Chatbot Platform Tools to Build Chatbots for Your Business
You can start an e-commerce business without holding any inventory. This practice, known as drop shipping, offers a lot of opportunity if you can dominate the right niche.
Related: 6 Steps to Building a Successful Online Drop Shipping Business
If you know an industry or task really well, you can easily create and sell an online course that teaches people a new skill. You'll just have to invest the resources upfront that are necessary to develop the class.
Related: 8 Steps to Creating a Profitable Digital Course
You can run social media accounts for a number of different companies if you market yourself well. Advertise your ability to drive sales and increase ROI by leveraging the reach of multiple social channels.
Related: Tips for Running Your Best Social Media Campaign Ever
It's a common dream nowadays to become an internet celebrity, and there's a reason: Building a wide audience on the internet can give you immense influence that can be monetized at scale.
Related: What I've Learned From Spending $10 Million on Influencer Marketing
Affiliate marketing is a partnership that bloggers, content creators or marketers can have with an online retailer. The retailer pays a commission for every referral sale the partner sends their way.
Related: Top 10 Affiliate Marketing Tracking Software Platforms
Restaurants, clubs and other physical venues often struggle to get customers in the door. Using your ability as a marketer, you can be compensated for directing traffic to these locations.
Related: The Price Is Right: Turning a Profit in the Event Planning Business
In any market, there are opportunities for buying and selling real estate to make a profit. With a bit of capital, you can begin taking more risks on your assets and making long term investments in residential and commercial real estate. Just be sure to do your research before you get started.
Related: 8 Ways Real Estate Is Your Smartest Investment
You can turn your ability to write well and quickly into a serious business if you find the right clients. Try freelancer platforms like Upwork and Freelancer.com. As long as you provide consistent and quality content, over time, your business is bound to grow.
Related: The Entrepreneur's Complete Guide to Ghostwriting
Being fluent in another language can be extremely valuable to people who need their websites translated. Put up a simple website, and you can start charging for “translation as a service” for websites, documents and presentations.
Related: Going Global? 3 Strategies to Ensure Nothing's 'Lost in Translation'
Using Flippa or any other online business marketplace, you can buy and sell projects, domains and websites. With the right eye, you can find great deals on promising ideas and turn them for a profit with just a small investment in the right areas.
Related: 7 Lucrative Online Jobs That Can Skyrocket Your Income
Building a newsletter with an active following is an extremely lucrative business opportunity because advertisers will pay serious dollars to get their names in front of the right audience. Start with a small niche that you can really provide value to, and you'll likely see your subscriber list grow over time.
Related: 4 Steps to Building A Profitable Digital Newsletter
Learn how to use Photoshop or sketch, and you can start charging clients for your design work. As a freelancer, you'll be able to make your own hours and dictate your own progression as your business grows.
Related: The Non-Designer's Guide to Hiring a Great Freelance Web Designer
If you enjoy fitness and maintaining a healthy lifestyle, then personal training could be a prime business for you. There's always a market for it through people who are looking to get in shape — and looking for someone to push them in the right direction.
Related: How To Add Wellness Coaching to Your Personal Training Business
Craigslist can be a goldmine finding deals that you can flip for a profit. There are plenty of resources available online that can help you identify the good deals from the rest of the pack.
Related: How to Make a Fortune With $100
If you know any farmers in your area, you can reach out to them and offer to sell their products at farmers' markets. Rather than paying upfront, you can mitigate your risk by partnering with the farmers in exchange for commission.
Related: College Entrepreneurs Find a Green Niche in an Online Farmers Market
Most businesses rely on some sort of paid advertising to drive leads for their business. Become an expert at Google AdWords or Facebook ads, and you can start charging clients for managing their spend.
Related: Need Clients? The 5 Best Ways to Market Your Consulting Business
Whether it is for the ACT, SAT or just general schoolwork, many students could use support to do their best in different subjects. Become a resource that helps students succeed in the classroom, and many parents will likely be willing to pay you for the help.
Related: To Rapidly Enhance Your Business, Stop Selling and Start Teaching
Well-paid CEOs do not have the time or energy to worry about many of the administrative tasks that can come with the job. If you can give wealthy people their time back by acting as an outsourcd assistant, many will be more than happy to compensate you appropriately.
Related: What Successful Entrepreneurs Outsource to a Virtual Assistant
Believe it or not, you can turn a profit off of beinga "professional reviewer," or someone who reviews products by publishing thoughts about them online. It will take some time to gain some domain authority, but after a while, you could become a thougth leader in your space.
Related: A Top TripAdvisor Reviewer Talks About How Reviews Work, for Good and Bad
Becoming a life coach is as simple as determining which of your past experiences you can use to provide value to others. Whether it is providing actionable strategies or general advice, you can likely find a niche as a life coach or mentor.
Related: The 10 Best Cities For Starting a Life-Coaching Practice
There are plenty of companies and professionals out there who want a website to represent them online but don't have the skills to create it. Many are more than willing to pay for a quality website that will better display their brand image.
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