Nowadays, the ever-growing online marketing opportunities are becoming a great source for entrepreneurs to capitalize from, especially if they’re starting a small business. Before capital and time is invested in your new endeavor, it’s wise to take some time to review what industries are experiencing the greatest growth.
Additionally, a good knowledge of what resources are available will assist you as your launch date comes closer, and once the business is up and operational, that research can prove to be the difference between success and failure.
Promising Small Business Industries
If you have already launched your business, and are concerned about its position in the industry, relax. With the market landscape, the room for growth is “virtually” infinite.
Susan Ward, with The Balance, updated her list of The Best Small Businesses Opportunities for 2017 in June of this year. A variety of industries are included. Susan compiled this list using certain criteria:
- Potential for profitability now and for the foreseeable future
- Can perform well regardless of the economy
- Businesses do not require decades of experience or a PhD
- Large startup capital is not necessary
Here is a sampling of her picks based upon business and demographic trends:
- Software development and engineering
- Bike sales, rentals, and service
- Children’s services
- Therapy and counseling
- Financial consultation
- Independent coffee houses
Small Business Administration
Every entrepreneur, regardless of where they are in the journey, should have the U.S. Small Business Administration bookmarked on all their devices. The resources that are at your disposal through this government organization are countless:
- Starting your business tips
- Business plan basics
- How to register
- Licenses and permits
For those of us who have started our business, the utilization of the SBA has only begun. Guidance on managing your business; including leading, growth, laws & regulations, exporting, and numerous downloadable forms can be found here.
One of the hidden gems of the SBA is their loans and grants department. There is a government contracts section, a learning center, and a place for each entrepreneur to find local assistance. The only way to appreciate how much they can help is to experience it for yourself.
Online Marketing Opportunity
Say hello to the digital world. If anyone doubts the potential power behind social media advertising, try this exercise. The next time you are standing in line at a coffee shop waiting to place your order, or at the grocery store counting the items someone has in the express checkout lane (we all do it!), pay attention to other customers.
What are many of them doing while waiting in line? Scrolling through social media apps on their phones. Social media is king in the land of digital communication. Facebook, Instagram, Snapchat, and Twitter are popular with all ages and demographics.
YouTube certainly has earned its reputation for video uploads, yet Facebook is quickly becoming the video platform of choice. Savvy entrepreneurs are seeing the value and resort to buy Facebook views to increase target market exposure of their brand.
Any outside help that a company can receive to gain brand exposure results in increased traffic not only to your pages, but to your checkout as well.
Need a list to check out on your own? Here are some that we recommend:
- How to start a business with no money:
- How to run a small business:
- How to promote a business: