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While technology has lowered the barrier to entry to starting a business, there is still an infinite supply of problems just waiting to be solved. With tons of ideas out there, what does it really take to build your startup (besides a bit of luck and correct timing)?
Execution. You just have to start. No one is going to come and build your company for you. But...where is the best place to start? I've pieced together 25 business ideas that I am confident are worth millions, but I don’t have time to build them because I'm full-tilt following my own idea. Any of these could be an awesome starting point to get your business of the ground.
1. Gmail extensionsModern 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 them time and money.
Related: 20 Gmail Hacks Only Savvy Users Know
2. Drone videographyImprovement in aviation technology has made it easier than ever to get a drone up and flying over a beautiful landscape or building. Commercial and residential real estate is practically begging for more drone videographers to come in and serve their agents and home developers.
Related: Revolutionizing the Film Industry With Remote-Controlled Drones
3. Chatbot builder for FAQ’sCompanies waste dozens and dozens of hours a week answering support questions from their customers. Help them automate this process by using a simple, plug and play chatbot!
Related: Top 10 Best Chatbot Platform Tools to Build Chatbots for Your Business
4. Drop shippingYou can start an ecommerce business without holding any inventory. This practice, known as Drop shipping, comes with really low risk and tons of upside if you can dominate the right niche.
Related: 6 Steps to Building a Successful Online Drop Shipping Business
5. Create a courseIf you know an industry or task really well, you can easily create and sell an online course that teaches people a new skill. You just have to invest the resources up front in developing the actual class.
Related: 8 Steps to Creating a Profitable Digital Course
6. Run social media accountsStart running social media accounts for a number of different companies. 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
7. Become an internet influencerIt is every kid’s dream nowadays to become an internet celebrity. And for good reason, being famous on the internet gives you immense power and influence over your audience which can be monetized at scale. Here is a quick guide I build to becoming an influencer.
Related: What I've Learned From Spending $10 Million on Influencer Marketing
8. Affiliate marketingAffiliate marketing is a partnership that you (the blogger or marketer) have with an online retailer. They pay you a commission for every referral sale you send to them. Note: if you're on the opposite end and need affiliate marketing, I recommend you find a good company. I'm a big fan of Robert Glazer at Acceleration Partners. They've always treated me right.
Related: Top 10 Affiliate Marketing Tracking Software Platforms
9. Event planning and promotingRestaurants, clubs, and other physical venues often struggle to get customers in the door. Using your ability as a marketer, you can get compensated for directing traffic to these locations.
Related: The Price Is Right: Turning a Profit in the Event Planning Business
10. Real estate investingIn 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.
Related: 8 Ways Real Estate Is Your Smartest Investment
11. GhostwritingYou can turn your ability to write well and quickly into a serious business if you find the right clients. 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
12. Content translationBeing fluent in another language is 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'
13. Flipping websitesUsing 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. I personally have been able to make a good healthy income each year off doing this.
Related: 7 Lucrative Online Jobs That Can Skyrocket Your Income
14. Start a newsletterBuilding 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 will see your list of subscribers grow over time.
Related: 4 Steps to Building A Profitable Digital Newsletter
15. Freelance designerLearn how to use Photoshop or sketch and you can start charging clients for your design work. As a freelancer, you get to make your own hours and dictate your own progression as your business grows. Here is a freelancer guide I put together.
Related: The Non-Designer's Guide to Hiring a Great Freelance Web Designer
16. Personal trainerIf you like maintaining a healthy lifestyle, then being a fitness trainer may be a well aligned business. There is always a large supply of people who are looking to get in shape (and willing to pay for it); they just need the right person to push them towards the right direction.
Related: How To Add Wellness Coaching to Your Personal Training Business
17. Craigslist flippingCraigslist is a gold mine for 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
18. Stock investorSpend your time and money into becoming a master at investing in the stock market. While returns are generally volatile, and full of risk, you can quickly level up your funds by playing the market game correctly. While this isn't something I want to invest my time into, I've known many that do very well doing it.
Related: 8 People Just Like You Who Made $1 Million
19. Farmers marketsIf you know any farmers in your area, you can reach out to them and offer to sell their product at Farmers Markets. Rather than paying up front, 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
20. Paid advertising consultingMost businesses rely on some sort of paid advertising to drive leads for their business. Become an expert at AdWords or Facebook ads and you can charge clients for managing their spend.
Related: Need Clients? The 5 Best Ways to Market Your Consulting Business
21. TutoringWhether it is for the ACT/SAT or just general schoolwork, students always need help getting by their classes. Become a resource that really helps students succeed in the classroom and parents would love to pay you for the help.
Related: To Rapidly Enhance Your Business, Stop Selling and Start Teaching
22. Outsourced assistantWell paid CEOs do not have the time or energy to worry about many of the administrative tasks that currently come with the job. If you can give wealthy people their time back, and build an army of outsourced, they will be more than happy to compensate appropriately. Make sure to mark on your calendar times to work.
Related: What Successful Entrepreneurs Outsource to a Virtual Assistant
23. Become a reviewerBelieve it or not, you can make tons of money as a “professional reviewer,” aka someone who reviews products by publishing his/her thoughts about them online. It will take some time to gain some domain authority, but after a while, you can come to be a thought leader in your space.
Related: A Top TripAdvisor Reviewer Talks About How Reviews Work, for Good and Bad
24. Life coachingBecoming a life coach is as simple as finding which past experiences you can leverage to provide value to others. Whether it is providing actionable strategies or general advice, you can likely find a niche as a life coach/mentor.
Related: The 10 Best Cities For Starting a Life-Coaching Practice