Best Startup Ideas: Diversified Ideas For Entrepreneurs In 2020
In this decade of the digital revolution, the nature of employment has changed drastically. Now people are more interested in building their own startups than working under someone. This also changed the business patterns. Innovative, user-friendly and unique business models are key to success these days. To erudite you, we have come with a few best startup ideas.
Contemporary Best Startup Ideas
1. E-Commerce: It is undoubtedly the most appealing idea for setting up a startup company. In this era, people are so much busy with their professional life, they get little time for shopping. They are more and more inclined towards online shopping. This inclination is the prime reason for writing this article.
Common customers have few crucial demands like original product supply, fastest delivery policy, regular discounts activity, cashback, and faulty product replacement system. If you have so much time, dedication and money then you must make a plan for this startup program and decide whether to proceed or not. If you proceed, then you must first make some research such as understanding how the online retail chain operates, communicating with a local businessman who supplies original products, knowing about the instant delivery system, refund policy system, government regulation, international regulation, infrastructure development and so on.
After completing at least 3 months of R & A, it’s time to arrange cash. There can be many ways of managing cash for entrepreneurship but most commons are:
- Bank loan.
Now, if you have managed financing, hire a lawyer to comply with all the legal requirements for your startup. Then create a simple logo and lucrative eCommerce website (by the experts) for brand marketing.
Make agreements with local suppliers for best quality good, invest in building Quality Assurance and Inventory facility development, hire a third-party delivery team (if no delivery personnel is recruited). Now, launch it on a massive scale with a unique marketing strategy.
2. Artificial Intelligence (AI) machine development: A startup on supplying AI operated robots can be a bit technical but futuristic startup idea. This idea requires a huge amount of enthusiasm for technology and robotics. Also, capital investment is comparatively high. This business model with AI can be used in household work or even in solving business problems. To develop this business, an individual must be erudite about technology developments and Artificial Intelligence firstly. Then do some research on the latest robotic technologies, consumer problems, and demands & logistic development. Countries like Japan and China are front runners for supplying cost-effective state of art AI devices. A deal can be made with market leaders from these countries. Now build up own marketing brand for the countries where AI is not prospered rapidly. Countries like Africa, South Asia or Middle-east can be potential customers.
3. Dealership of high-tech companies in developing countries: In developing countries or underdeveloped countries, where the requirement of original tech. product is huge. But the price associated with it in these countries is almost double. If a dealer supplies these products at a reduced price, then there can be potentially a massive business.
4. Fish farming: Fish farming is something not so common in developed countries like the USA, UK, France, Australia, New Zealand, etc. These countries are mostly interested in fishes from the sea. But good quality Asian fishes are something they like but could get them. Countries like the Philippines, India, Bangladesh, Sri Lanka, etc have a good export-oriented policy for these fish farming. Buying some ponds and cultivate this for fish farming can be a potentially profitable venture.
5. Renting cars to rider services: Buying cars using EMI and renting them to a registered driver with riding service providing companies like Uber / Ola, can be a big source of passive income. This business is a passive way of generating income. For this, the entire effort should be given to buy a suitable car and finding a trustworthy registered driver.
World’s top cab services
There can be 100 ideas to run a startup, but the entire success depends on how the research of the business has been done as well as how well the research idea be implemented. In this age of technological advancement, if a Elon Musk can send rockets in space without having a formal degree in either rocket science or space science, why can’t you do something unique.