Business Ideas For Competition: If you’re a serial entrepreneur, then you know how important it is to have options when starting your next business. Whether you have decided to sell your existing business or you’re looking to start something new, this list of 10 business ideas will give you plenty of ideas to consider as your next venture.
Business Ideas For Competition
Each one comes with some pros and cons so that you can decide which approach might be best for you. Whether you have no experience in the industry or you’re an old pro, there are bound to be some interesting business ideas on this list that get your juices flowing!
1) Crowdfunding Platform
One of the most obvious business ideas is also one of easiest: create a crowdfunding platform. Crowdfunding is a new way to raise money, usually through contributions from people around you who want to support your project. Kickstarter and Indiegogo are already giant names in crowdfunding, but there’s room for more platforms.
If you can come up with a niche that isn’t already being filled, you could quickly make some money here. In fact, although these platforms have been around for several years now, we see them growing each year as entrepreneurs recognize that it’s not just about raising money but getting product feedback as well.
The types of businesses listed above are all ones that could benefit from crowdfunding. Take advantage of both trends! However, if you really do want to run a crowdfunding platform, be warned: unless you’re absolutely certain that there will be an audience for your product or idea (with no proof otherwise), steer clear of running such a service.
It takes knowledge (of how crowdfunding works, taxation requirements, etc.), diligence (to ensure campaigns follow guidelines) and time (for every project). No single person should do all those things alone; expect to spend months researching best practices—and be prepared to take on at least one other full-time staff member dedicated exclusively to crowdfund campaign management. But don’t overlook another valuable source of insight into starting a crowdfunding company: prior backers and organizers.
2) Peer-to-Peer Lending Platform
Lending money to people is essentially a good business idea, but lending directly to other businesses is even better. If you want to pursue a business idea in which competition is fierce, consider peer-to-peer lending. This growing industry not only allows entrepreneurs to lend directly to individuals looking for an alternative source of financing; it also connects borrowers with potential lenders with similar needs and risk tolerances.
Zopa was one of the first peer-to-peer lending companies, but newer players include Ratesetter and Funding Circle. And if you want to get your feet wet before diving into direct competition, look into platforms like Crowdrise and Kickfurther where entrepreneurs can invest in small businesses from their computer or smartphone.
3) Data Mining Services
If you’re good at writing content, there are SEO jobs out there that let you work from home, set your own hours and get paid well. A great place to start is a local SEO service in your area. There’s plenty of competition for these jobs, so you may want to try bidding on them by offering lower rates to start and then increasing your price over time as you build a strong portfolio.
Just be sure to read up on SEO tactics before diving in – otherwise you might end up with a penalty from Google for not playing by their rules! Another option is eLance or oDesk . Each site has thousands of freelancers looking for short-term projects all across the globe. And once you land one gig, it should be relatively easy to branch out and find similar projects each month.
The key here is simply being able to write well enough (without making mistakes) and network enough (so companies hire you again). Set up profiles on both sites right now to begin building your online presence.
4) Job Placement Service
A job placement service is a fantastic option for small businesses, as well as for established organizations looking to expand their services. Customers who are looking to hire new employees can list jobs with a variety of different specifics and requirements that can be filtered based on location and desired qualifications, such as business experience or bachelor’s degree.
Job-placement services then post these jobs online in order to ensure easy access, giving both employers and job seekers easy access to their respective services while increasing exposure. Just like any other business idea out there, competition can be high when it comes to reaching potential customers. Even so, if you can make your business stand out from others in terms of quality and professionalism, you’ll have no problem finding success in terms of customer satisfaction and repeat customers.
With an increasingly difficult employment market (and even more difficult economy), many people may find they need to look outside their local area to find work—which means they’ll be relying on job placement services across state lines or even overseas.
Of course, some people prefer working locally because they want a community feel; think about what type of audience you’re trying to attract before launching your own job placement service! Some things that might help boost your appeal include: Don’t forget that one way you could potentially win over additional clients would be by offering related services along with yours!
5) Local Search Engine Optimization (SEO) Service
Google, Bing and Yahoo local search results are incredibly important to businesses that operate in a single location or primarily serve customers within a defined geographical area. Most local searches for services lead directly to businesses’ websites, which means top placement can result in more business.
An SEO service makes it easier to stay on top of changing Google and Bing algorithms—which seem to update every week—while avoiding costly oversights that could otherwise drive traffic away from your website. When used correctly, an SEO service will maximize your website’s exposure while minimizing unnecessary costs.
And if you’re not tech-savvy, a good SEO company can also help improve your site design and ensure your business information is accurate and up-to-date across different directories. You’ll have nothing to lose by choosing such a service over tackling optimization alone, since most SEO agencies offer free consultations. Be sure to research any agency before hiring them so you know what questions to ask about their tactics and strategies.
The payoffs can be big: According to one study by BrightLocal (which tracks citations from local business listings) 48 percent of consumers who use multiple sources when looking for a new product or service start with online search engines like Google; nearly three quarters look at more than one online source during their decision process. So when people are looking for businesses like yours, they’re looking locally first; take advantage of that fact with professional SEO services.
6) Social Media Marketing Services
Social media marketing can make a huge difference in how a business or individual is perceived online. When it comes to business, social media marketing is key because it helps businesses attract new customers and increase brand loyalty, as well as turn sales.
It also helps connect with existing customers. Social media platforms allow businesses to share information, provide customer service and encourage feedback on products or services. Customers like that they have direct access to companies through social media sites and they will often use them to ask questions or get advice on purchases when they are looking for new goods or services.
When it comes to promoting yourself or your product or service, one of the easiest and fastest ways you can do so is by using Facebook and Twitter. A simple tweet about your company’s product could lead to a thousand potential leads—not only people who may want what you’re selling but other users who follow you and see your post become interested in what you offer as well. The bottom line: By optimizing your social media channels with keywords relevant to your business, you can improve search engine rankings for those terms.
7) Affiliate Marketing Services
Affiliate marketing is a great way to monetize your website or social media account. There are various ways of affiliate marketing like promoting products, services, selling digital content and even merchandise. The idea behind affiliate marketing is that you can provide advice on a topic (expertise) or promote products from another company and get paid for it.
It is one of many ways to make money online, but keep in mind that it takes time and effort to see any real results. No one will give you anything for free! If you want to see some return, you have to work hard at it. That’s why I love affiliate marketing: there’s no limit of making money and no limit of earning potential.
A lot goes into being successful with affiliate marketing like choosing right niche topics for your audience, traffic generation and network building; but if done properly over a long period of time, you could potentially earn thousands per month doing something that has nothing to do with your day job!
8) Mobile Application Development Company
In a mobile-dominated world, there’s plenty of demand for apps that make daily life easier. Companies like Uber and Airbnb have made huge fortunes by providing an essential service via an easy-to-use app. If you have coding skills, especially in iOS or Android development, there’s enormous potential to build a highly profitable business if you can find a gap in a market.
It’s still much easier to start with an idea than funding from investors. Make sure you do your research first—staying ahead of trends is critical when it comes to apps, as well as looking at how competitive your idea is from every angle.
9) Virtual Assistant Services Provider
Virtual assistant services are more common than ever. People have become increasingly reliant on digital assistance, and what better way to tap into that need than by starting a virtual assistant business?
From web design and management to data entry and marketing, there are a ton of ways you can specialize. And when it comes to starting your own VA business, one of these ideas will give you a strong foundation for success
10) Digital Marketing Agency
As your business grows, you can hire more staff or contract work out to other freelancers. You can also offer search engine optimization services (SEO) which involves utilizing both off-page and on-page optimization to increase a website’s organic search ranking.
Also Read: Business Ideas For Chartered Accountants
Well, there you have it. These ten ideas should help to get your creative juices flowing, but they should not be considered an exhaustive list. After all, entrepreneurship is a skill that’s honed through constant practice and refinement.
There are countless business ideas out there, so don’t let these concepts limit your thinking. If you think something could work, try it! You never know what opportunities will present themselves if you’re willing to keep an open mind and give things a shot.