If you’re looking to start a business, chances are you’re wondering what the fastest growing business is. Here is a list of the fastest-growing businesses in the world.
What is the Fastest Growing Business: Every business wants to be the fastest-growing business in the world, but what does it really mean? What does it take to grow from startup to big business in just a few years? In this article, we’ll explore some of the most incredible stories of companies that have done just that.
What is the Fastest Growing Business?
As well as how you can apply their success strategies to your own small business. When it comes to growth, everyone has their own definition, but these are six common factors shared by the fastest-growing businesses around the world today.
Apps
If you have an app idea that fits certain criteria and your app is accepted, you could get paid $10,000 to $50,000 for it. Revenue sharing percentages vary widely based on how many times your app is downloaded and how much revenue it generates. The quality of apps can be a major factor in getting accepted; companies want quality ideas because they’re more likely to make money if people are downloading them.
Getting an acceptance letter from Apple doesn’t mean you’ll make a lot of money—but it does mean your idea has been reviewed by professionals who can give feedback on what needs improvement and how to improve your chances of becoming successful when (and if) your app makes it into Apple’s App Store. According to Apple, there were over 2 million apps available at last count.
You don’t need 2 million downloads or 50 billion downloads or even 100 downloads to become rich off of one app. There are plenty of stories about one-hit wonders making millions of dollars off their little app idea that got lucky and made it big with users.
One story tells about how two guys turned down venture capital funding for their startup and instead used money won from an Angry Birds contest at Rovio Mobile Ltd., makers of the Angry Birds game, as seed funding for their startup.[5] Now those two guys work at Google!
Ecommerce
There’s no question that eCommerce is hot. For starters, it’s far from mature and still growing—the global market for online purchases reached $1.75 trillion last year, up about 18% from 2015, according to research by Euromonitor International. It’s expected to reach $4 trillion by 2021. In addition, e-commerce companies are scaling much faster than other businesses—most of them generate a billion dollars in annual revenue within five years of launch (compared with 20 years for other companies).
To make matters even more exciting, platforms like Shopify and BigCommerce make starting an online business simple and affordable. The barriers to entry are dropping significantly compared with just a few years ago. Today, you can start a website for as little as $3 per month. Plus, there are tons of resources available to help you learn how to sell online.
Ecommerce is booming because people want things quickly and easily—and they prefer buying products online over going into stores. If you’re looking for a fast-growing industry, look no further than eCommerce! That said, don’t expect it to be easy or quick. You need a great product or service, plus marketing know-how if you really want your venture to succeed.
Building traffic takes time, whether you do so through search engine optimization (SEO), social media ads, or paying for sponsored content on websites like Facebook and Instagram. And reaching customers who will become repeat buyers requires effective email marketing strategies that require plenty of experimentation and testing along the way.
Cloud Computing
As of October 2012, there were an estimated 2,200 cloud computing vendors. In addition to SaaS (software as a service), other cloud-based technologies include IaaS (infrastructure as a service) and PaaS (platform as a service). The most common uses for cloud computing include hosting Web applications or running enterprise software and business solutions such as CRM, ERP, HR, and financial systems. There are even companies that can help you design a custom application for your business!
It’s important to note that not all cloud providers offer every type of technology, so it’s best to know what you need before selecting a provider. It’s also wise to have multiple providers in case one goes out of business or has some kind of outage. For more information on cloud computing, check out our comprehensive list of resources.
With more than $30 billion in market capitalization, Apple is now worth more than Microsoft and IBM combined—and yet it only sells hardware products like computers and phones. What gives? How did Apple become a tech titan when its only product is hardware—and why doesn’t Microsoft make more money selling Windows licenses than it does selling its own computers?
The answer lies with understanding how much each company makes from their products versus how much they make from services attached to those products: Products: PCs; Services: Software licensing. The vast majority of Microsoft’s revenue comes from selling Windows licenses at retail price or via volume licensing agreements with businesses—not by actually building and selling computers to consumers or businesses themselves.
Cryptocurrency & Blockchain
The incredible growth of cryptocurrencies and blockchain technology is, by far, one of the most fascinating business stories to watch. The so-called crypto market is currently valued at a whopping $827 billion—that’s a much larger value than many huge publicly traded companies like Starbucks or Walmart. Despite its lofty valuation, people are just now starting to take notice as cryptocurrency prices recently experienced a massive surge.
If you think it might be too late to invest in crypto or blockchain, think again. As prices continue to rise, there will be plenty of opportunities for investors who want to get in on these new technologies early. As with any investment, do your research before investing in anything.
And if you don’t know where to start, ask your friends who may have invested already. There’s no better way to learn about an industry than from those who have already been involved with it firsthand!
Online Advertising
If you’re willing to play around with online marketing, there are a lot of diverse ways to make money from it. And by that, I mean a lot. There’s everything from affiliate marketing (doing somebody else’s advertising for them) all the way up to convert your own website into an advertising platform (that is, selling ad space on your own site). Both of those things can earn you money and revenue streams—and at least with affiliate marketing, they can earn you passive income while you sleep!
But, again: Do it at your own risk. It takes a while to learn how to do it well. Like everything else on my list, if done right it can be super valuable but done wrong will probably land you in jail. So… don’t go to jail. Ever. Learn more about affiliate marketing here. Write a professional blog post based on the following description: A guide to making money with affiliate marketing.
Video Game Industry
The video game industry has seen explosive growth over the past few years. Industry revenue was up 9% year-over-year to $24.5 billion in 2012, according to data from NPD Group, due to increased software sales on consoles, PC, and mobile devices. In fact, software comprised 84% of all game sales during 2012—the highest proportion ever recorded.
Five of last year’s 10 best-selling titles were for handheld systems or smartphones/tablets and not for a console platform like Xbox 360 or PlayStation 3. Mobile gaming has also grown into a $1 billion business in just two years thanks to games like Angry Birds Space that are downloaded more than 500 million times every month. And it’s expected to grow even bigger. A recent report by Newzoo estimates that mobile gaming will generate nearly $6 billion in 2013 and will account for 21% of total worldwide game revenues.
That’s still small compared with other segments, but it’s growing fast: Revenues are expected to double by 2017. There’s one more trend worth noting: social networking sites have become an increasingly popular destination for people looking to play games online. More than half (53%) of Facebook users now access their accounts through a game at least once per week.
While 33% play at least once per day. Not surprisingly, Zynga (NASDAQ: ZNGA) is taking advantage of these trends and has made social gaming its primary focus since going public in 2011. So how do you take advantage of these opportunities? Start researching what consumers want to buy today so you can determine which products will be popular tomorrow and start making them now. You might find your next big idea!
Also Read: What Business Can I Start With 5 Lakhs in Pakistan?
Conclusion
If you’re still scratching your head trying to answer that question, then don’t worry: no one knows for sure. While some businesses have grown exceptionally fast and become unicorns with $1 billion valuations, these companies are highly valued and privately owned so their financial information isn’t available to the public.
That said, it’s safe to say that some of today’s fastest-growing companies include Airbnb, Uber, and Lyft. These companies combined have grown into multibillion-dollar enterprises in just a few years’ time. Did you know that Airbnb started out as a service that let users rent out air mattresses on floors? Neither did we!
