One of the greatest challenges newer entrepreneurs face is deciding on the type of business to start. Trust me, it’s more difficult than it seems. And if you dabbled into the wrong niche, your business tends to fail before it starts. You see, it’s not about starting a business or becoming an entrepreneur. But knowing the exact business to do is one of the most difficult nuts to crack. In this article, I will share with you some of the most profitable businesses in the 21st century.
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#1. Home Improvement Services
In recent times, there has been a boom in the housing market. More people are buying houses than ever. And that makes home improvement services one of the most profitable small businesses in the 21st century.
Every new homeowner out there wants to make their newly purchased home look amazing. And if you have the right skills, you could make a fortune from this business.
Of course, the home improvement business is versatile. You can decide to specialize in any of the areas you are comfortable with. But it starts with learning the skills, gaining relevant experience, and telling people about your business.
The home improvement business includes landscaping, interior decorating and furnishing, carpentry, contracting, plumbing, wallpaper installation and fixing, furniture polishing and spraying, home remodeling, deck building, etc.
So, there are endless opportunities in the home improvement services business. All you need is to focus on a particular area you are good at and be consistent about it.
How to Start a Home Improvement Services Business
If you think that home improvement services may be the perfect business for you, here are steps you should follow;
- Be passionate about the business. The success of your home improvement business goes beyond smartness and business strategy. It’s your motivation and ability to deliver as promised that will make you outstanding.
- Determine the services you want to render. Like I mentioned earlier, the home improvement service niche is versatile. You can’t just dabble into it because it requires a level of expertise. So, list out your skills related to home improvement services and determine which one you are more passionate about.
- Determine your customer base and the people you will be working with.
- Choose your business name, logo, and any other thing you need in order to formalize the business.
- Advertise your new business to the right audience. You can use social media platforms or Google lead services to reach out to your audience.
#2. Cleaning Services
Cleaning services is one of the most profitable businesses in the 21st century. But people don’t always take it seriously. You can choose to clean for residential or commercial buildings, depending on what works best for you.
It’s relatively easy to start a cleaning service business. In most cases, you don’t need an office. And the equipment and other resources you need to start the business are quite affordable.
The operational cost of cleaning services is relatively low. And with the right promotional strategy, you can easily expose your cleaning service to the right audience.
Here are steps for starting a cleaning business;
Carry Out Research
It’s essential to carry out extensive research before you start your cleaning service business. You need to know more about the business, the required skills, the various chemicals, and their effects on surfaces.
Choose a Value Proposition and Name
Every great business has a value proposition. It’s the heart and soul of your business. And it’s the easiest way to make your cleaning business outstanding.
License the Business
Once you choose your value proposition, the next step is to license your business. Legally register the business name and fulfill every other statutory requirement.
Get Insurance
As you set up your cleaning service business, don’t forget to get the right insurance. It’s risky to start a cleaning business without insurance.
Many possibilities could happen when cleaning a residential or commercial building. For instance, you could mistakenly scratch up something or break your client’s valuable possessions.
But with insurance, you will have peace of mind if you accidentally break or destroy something valuable when cleaning a building. After all, your insurance has you covered.
#3. Digital Marketing Services
Digital marketing is one of the most profitable small businesses in the 21st century. The demand for these services is endless.
As a digital marketing expert, you will be helping small businesses and startups build their brands and create an online presence. If you are ambitious enough, you could even start a digital marketing agency.
But a digital marketing service is versatile. There are different specialized areas you can focus on as a digital marketing expert.
However, before choosing any of the specialized areas, you should be very skillful in that area. If you decide to operate a digital marketing agency, you may be offering services across the different specialized areas.
Here are the specialized areas in digital marketing;
- Web Design
- SEO Writing
- Copywriting
- Paid Social Media Advertising
- Creative Consulting
- Content Creation
- Social Media Management
#4. App Development
App development is among the most profitable small businesses in the 21st century. We are in the tech age, and almost every business wants to go digital.
Businesses use different mobile apps to reach out to their customers and make more sales. And you don’t need a formal degree to start an app development business. All you need is to hone your skills and use the right strategy to promote your business.
#5. Blogging
Blogging is also one of the most profitable small businesses in the 21st century. If you are a great writer who has a good sense of business, you could make a fortune as a blogger.
But you don’t have to start blogging because you see other people doing it. You must be passionate about it. Otherwise, you may quit before you even begin.
Even though blogging is a lucrative business to start, it’s not a one-night stand. You need the right skills, commitment, consistency, and more importantly, patience.
There are several ways you can earn money as a blogger, and Google Adsense is just one of them.
However, you don’t have to bother about earning. Dedicate your time, effort, and resources in building your traffic. Once you have enough traffic, you can start making money from your blog.
Sometimes, it may take a while before your blog starts getting enough traffic. But if you have the determination to continue, your efforts will always yield great results.
